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Mining Bitcoin and other cryptocurrencies on a personal computer is no longer practical, but new technologies make the process of creating new coins accessible again. One PLC Altima is currency.
As you can see in this article, this new technology is also available in simple mobile phones.
Mining in the cryptocurrency world is the process of solving complex mathematical computational problems using specialized hardware, video cards, or ASICs.
Mining machines compete with each other to solve problems, as the first machine to solve a problem gets a reward. The more computers involved in the mining process, the more complex the competition among miners. The level of competition can be measured by the “hashrate”, a metric that reflects the number of attempts per second he makes to solve a problem.
In October, the hashrate behind the Bitcoin network hit an all-time high of 321.15 exahash per second. This means that competition among bitcoin miners is getting tougher, currently unavailable to smaller miners, and has taken this lucrative niche in the cryptocurrency industry, which already has millions of Limited to a few investors in their pockets.
This is how smaller miners were kicked out of the mining game.
Another type of mining based on the Proof-of-Stake algorithm was supposedly created to solve this inaccessible mining problem. In a PdP network, blocks of transactions are submitted to the blockchain through validators. Validators are selected by the amount of coins sent and locked at a particular address, not by computational power.
In September 2022, Ethereum, the second-largest cryptocurrency by market capitalization, switched modes to PdP, replacing miners with graphics cards and ASICs with validators. Ethereum’s blockchain network consumes 99% less power compared to the proof-of-work version on the network.
However, small investors still face limited opportunities. To become a validator, a specific smart contract requires him to freeze 32 ETH worth US$38,000. Small miners are therefore at a disadvantage even in PdP networks.
If global adoption is the dream of the crypto world, mining should be reinvented to lower the barriers to entry and allow millions of potential users to enter the industry. The dream of a decentralized world of
Dozens of new ideas are in development and new technologies are available. The PLC Ultima Ecosystem Team, a decentralized fintech platform launched by investor, business coach and blockchain expert Alex Reinhardt, has launched a new currency through a special application on regular mobile devices. created a new technology that allows you to create
Like any decentralized system, PLC Ultima relies on active community participation. It is the crypto community that guarantees the functionality of the blockchain network, the completion of transactions in blocks, the writing of blocks to the network, etc.
To maintain a high level of decentralization, the PLC Ultima ecosystem team created a technology called Coinage. This allows anyone to become an active member of the cryptocurrency community without buying expensive mining equipment or locking tens of thousands of dollars worth of coins.
To turn their phone into a fertile farm, users need to install two mobile applications (Ultima Farm and Ultima Wallet), register with the system, and top up their wallet with a random number of coins from the Ultima PLC ecosystem. there is. This is similar to how the Ethereum blockchain works. But there is a big difference.
There are no minimum standards for participating in the PLC Ultima ecosystem casting process.
You can start mining with any coin. Additionally, joining the Ethereum network requires freezing your coins, while the PLC Ultima network does not block funds. User coins are under the complete control of the user. The user is the sole owner of all access keys to the wallet and all coins in it.
Just like the blood of the human body, the life of the PLC Ultima ecosystem is carried by two liquid assets called PLCU and PLCUX coins. Both currencies carry out important infrastructure activities and complement each other.
PLCU is used as a currency to transfer value and pay transaction fees. This is a deflationary currency and burns all fees paid in PLCU to prevent secondary market inflation.
PLCUX, on the other hand, will be used to generate new coins. Both coins have been created, but only her PLCUX can be created by new users.
Mining rewards for keeping PLCUX in the wallet correspond to the number of coins stored in the wallet and are paid monthly according to the level of digital certificates purchased by miners. This certificate acts as a form of enrollment plan and unlocks access to mining technology. The higher the level, the more coins you can store in your wallet and the higher the reward.
Rewards are distributed automatically through smart contracts and the distribution process is free of any kind of manipulation.
All new user engagement and nurturing mechanisms implemented in PLC Altima Explain why the ecosystem is growing rapidly in both number of users and number of applications on blockchain. There are already about a dozen fintech services in the ecosystem based on thousands of users, including PLC crypto debit cards with very high limits, crowdfunding platform Platin Hero, and digital marketplace PlatinDeal. increase.
