A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›
Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
If you don’t have enough, buy ACS on the following exchanges:
Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
The global crypto market cap is $1.04 trillion with a 24-hour volume of $28.48 billion. The price of Bitcoin is $25,863.77 and BTC market dominance is 48.4%. The price of Ethereum is $1,630.15 and ETH market dominance is 18.8%. The best performing cryptoasset sector is Agriculture, which gained 16%.
How GoMining is making bitcoin mining easy and accessible to everyone.
Cover art/illustration via CryptoSlate
Disclosure: This is a sponsored post. Readers should conduct further research prior to taking any actions. Learn more ›
Bitcoin mining is one of the best ways to support and participate in the network and earn BTC. However, for most people, it is not easy to get started. Bitcoin mining’s barrier of entry continues to remain high, as the financial investment, technical knowledge, and active maintenance required are all too difficult for most people to enter the space.
Yet, that is all changing thanks to an incumbent bitcoin mining company, GoMining.
At its core, GoMining is a bitcoin mining company whose mission is to make bitcoin mining easy and available to everyone. Through their GoMining NFT and GOMINING token, anyone can invest in bitcoin mining without the hassle of needing physical mining equipment.
It’s thanks to a concept GoMining pioneered called Liquid Bitcoin Hashrate (LBH). LBH is the idea that the computing power of bitcoin miners can be tokenized into digital assets. As tokens, LBH can then be utilized among DeFi ecosystems for buying, selling, borrowing, and lending.
GoMining has successfully implemented the LBH token concept on the GoMining NFT, an NFT that displays a mining rig with unique computing power and energy efficiency. Currently, there are over 2,000 unique NFT holders, who have received more than 2,000 BTC through the last two and a half years.
As more GoMining NFTs are sold, GoMining builds more hash power, and, subsequently, earns more Bitcoin for all token holders.
Most recently, GoMining released their latest tokenomics on the GOMINING token. Let’s learn more about the GoMining ecosystem, diving into the NFT, the token, and wrap up with GoMining’s roadmap.
The GoMining NFT is a unique kind of digital asset, as it’s an NFT that is directly tied to GoMining’s bitcoin mining equipment. Each NFT has two traits: hash power (TH/s), and energy efficiency (W/TH).
Hash power is simple. The more terahashes (TH/s) your NFT has, the more Bitcoin you earn per day. Energy efficiency works the opposite way. The lower your watts per terahash (W/TH), the cheaper the energy cost is to mine.
More TH/s = More BTC. Lower W/TH, lower costs.
GoMining currently has four NFT collections, with their latest being the Khabib NFT, a collaboration with the MMA legend, Khabib Nurmagomedov. The collection showcases artifacts across Nurmagomedov’s iconic rise to fame, and all of the NFTs sport 29 TH/s of computing power, the same number of victories in his career.
Anyone can explore the many GoMining NFTs on the GoMining Marketplace, where primary and secondary markets exist.
With their latest update, GoMining has given their token a new form and function. First and foremost, the token ticker is now GOMINING instead of its predecessor, GMT.
Second, GOMINING now has several new functions that increase the utility of the token:
Theoretically, the discount token model is the main demand mechanic, as more GOMINING will be purchased and spent for mining fees. In contrast, the burn/mint process and the vote-escrow mechanic are supply control mechanics, ensuring that less GOMINING exist in circulation over time.
In other words, GOMINING is the fuel that powers the GoMining NFT engine, and that fuel becomes more scarce over time.
GoMining has big goals for its future. Their roadmap is simple: build systems to account for 20% of the world’s BTC production within the next two years, equating to a capacity of 30,310,000 TH/s.
What’s most incredible about this goal is the speed at which they’ve already attained their current state, already achieving over 2 million TH/s.
With users powering the GoMining ecosystem through GOMINING and the GoMining NFT, there’s a high chance that GoMining will reach its goals. And if that happens, the amount of Bitcoin distributed to their token holders will completely overshadow their prior successes.
Disclaimer: This is a sponsored article brought to you by GoMining.
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
GoMining is a forward-thinking Bitcoin mining company committed to making Bitcoin mining accessible and straightforward for everyone.
The asset could be more versatile than the bank’s existing JPM Coin, but the idea is said to be in very early stages.
How GoMining is making bitcoin mining easy and accessible to everyone.
2023 has seen a barrage of federal regulatory action against malfeasance in the cryptocurrency industry. Is Congress finally poised to act?
While not the first time a Chinese court has questioned the prevailing policy of the CCP, any break with hierarchy within Chinese politics is unusual.
JP Morgan analysts predict the SEC will approve spot Bitcoin exchange-traded funds after losing its court case against Grayscale.
The U.K.’s National Cyber Security Centre (NCSC) announced the thread on September 1st, linking the threat to the Russian state-sanctioned hacker group, ‘Sandworm,’
The former U.S. President declared he earned over $4 million from his NFT adventure.
The former FTX CEO’s lawyers argue that the government is overwhelming their client without allowing him the ability to adequately prepare his case.
The BNB Bridge hacker’s $63 million position was also liquidated on Venus Protocol.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2023 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via
source
Source: www.cryptoslate.com
