GoMining unveils its fundamental update, GoMining v2, which introduces Liquid Bitcoin Hashrate tokens to make mining accessible to all
GoMining, known for its dedication to making mining accessible, has announced the most significant update since its inception, GoMining v2. This update sees the introduction of the innovative Liquid Bitcoin Hashrate Protocol, set to reshape the landscape of mining.Historically, Bitcoin mining has been a complicated process, largely limited to sophisticated users and mining companies.
This approach accounts for the energy consumption associated with Bitcoin mining. While energy cost in mining Ether is negligible and is not factored into revenue calculations, the cost of energy in Bitcoin mining forms a significant portion of mined BTCs. As such, Liquid Bitcoin Hashrate owners will have to pay for electricity, which is transparently deducted from mining revenue.GoMining v2 protocol democratizes Bitcoin mining by making it simple, transparent and widely accessible.
New tokens minted are algorithmically distributed among key ecosystem participants, including service providers, veGMT Contract, GMT Incentives and the GMT Team. This balance ensures the sustainability of the ecosystem. The quantity of minted tokens is intrinsically linked to the number of tokens burned. Early epochs will see fewer tokens minted than burnt, maintaining a dynamic equilibrium in the protocol's operation stages.
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