Token Upgrades I Roadmap I PRESS I
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Date: 08.01.2023

Token Mining Without the Power Headache: The Minebase Way

Source: blockonomi.com

Cryptocurrencies are now becoming a staple in this present era. There are crypto tokens that tackle climate challenges, cross-border payments, apps of the future generation, and so much more. However, mining these assets has been shrouded in controversy.

Why is the current condition of new cryptocurrency mining projects detrimental, and what is the way forward? We discuss the answer to these questions and seek out a solution that builds new value proposition on the existing blockchains.

Is there a way to mine crypto without hardcore mining equipment and technical knowledge? Is it possible to transact and earn? Let’s find out.

What Is the Problem with Mining Cryptocurrency?

The first step to answering this question is understanding the underlying framework behind cryptocurrencies.

When Bitcoin was launched in 2009, the digital asset introduced the concept called the proof-of-work (PoW) consensus algorithm. In the simplest of terms, a PoW framework required all connected computers in a network to compete to solve highly complex mathematical puzzles to create new coins in exchange for block rewards.

The merits of this system are impressive: it addresses the issue of double-spend (when an external entity controls more than half of a network’s resources) and is highly secure due to its decentralised format. The trade-off was speed and the energy required to undertake this task.

In addition, the energy heatmap of these PoW protocols has continued to increase as the mining difficulty increases.

According to a Cambridge Bitcoin Electricity Consumption Index (CBECI)
release, PoW crypto mining consumes an estimated 10.52 GW/h annually. This is more than the annual energy usage of small European countries like Slovakia, the Netherlands, and the Czech Republic.

While many new generation blockchain protocols are pivoting to a more eco-friendly option called proof-of-stake (PoS), PoW still commands the highest impact in the crypto industry due to the dominance of crypto giants Bitcoin.

Another critical issue about crypto mining is the tools required to generate new coins.

Crypto mining is highly capital-intensive as miners need to acquire industry-specific rigs or hardware to verify and add transactions to the blockchain. These rigs are often costly and are easily outdated due to the growing difficulty level. The most popular hardware miner is the fleet from Bitmain, a PoW mining equipment miner famous for its Antminer S series. Each mining equipment costs well above $5,000 for the most recent ones.

The significant capital outlay prevents retail miners from joining the exercise as most companies join specialised mining pools to gain block rewards. And mining pools charge a pool fee for using their service, further inflating miners’ overall costs.

How Much Energy Does It Cost to Create a Bitcoin?

Mining companies have tried to reduce the carbon signature of Bitcoin; however, this has not been entirely successful. According to Digiconomomist’s
Bitcoin Energy Consumption Index, a single Bitcoin transaction gulps as much as 1,509.92 kW/h. It would take roughly 51.75 days for an average US household to consume this energy.

Over 842 kilograms of CO2 worth of carbon footprint is released in mining a new Bitcoin. This equates to roughly 1.8 million-plus worth of VISA transactions or about 140,363 hours of binge-watching YouTube videos.

What Can Be Done About Crypto’s Energy Problem?

Several measures are being employed to cut down on the high energy demands of Bitcoin mining while making it environmentally friendly. Here are some of them:

Migration to PoS Systems

PoW protocols like Ethereum are currently transitioning to a PoS system. This is expected to increase its transaction speed and reduce its fee. But most importantly, PoS systems are more energy conservative and require less energy to operate. According to the smart contract network, the
PoS
algorithm would enable Ethereum to reduce its energy consumption by 99.95%, making it less environmentally harmful.

Use of Renewable Energy

Several Bitcoin miners are already exploring renewable energy to reduce its carbon footprint. According to a Q4 2021
survey
by the Bitcoin Mining Council, about 58.5% of Bitcoin is mined using renewable energy. The goal is for all cryptocurrency mining to be powered by sustainable energy.

Introduce Carbon Credits or Fees

Another novel strategy used by Bitcoin mining firms is carbon credits. By acquiring carbon credits from carbon companies, users of this technique can offset their energy consumption.

But what if there was a more effective approach? A way for users to create new tokens without using up truckloads of energy, buying expensive hardware miners, or ever needing to worry about mining difficulty?

How MBASE Can Help to Solve the Environmental Footprint Caused by the Crypto Mining

In response to recurrent problems in the crypto industry, the
Minebase
team was established to provide consumers with an alternative method for producing new tokens without endangering the environment. These new tokens can be used as a form of payment, store of value and staking, which is a process of generating yield on the tokens you already hold.

Essentially, the protocol enables users to mine tokens with transaction fees using the top 20 decentralised exchanges (DEXs), Etherscan and Bitcoin networks. The CTP concept, also known as Creative Token Production, is used to accomplish this.

The basis of CTP is the concept of mining tokens, which is accomplished by collecting fees from the aforementioned platforms and converting them into its
MBASE token
once it hits a certain price level. Compared to Bitcoin, you don’t need any hardware to create MBASE.

The token is created form fees generated by already existing blockchains, which most importantly decreases the consumption footprint of crypto industry as a whole.

This idea demystifies the concept of crypto mining and opens the floor for various interested parties to mine digital assets.

Anyone can mine the MBASE token through CTP using their PC or smartphone. All that needs to be done is to create an account and a wallet address. All fees paid while executing trades on Bitcoin, Etherscan, and DEX platforms are deposited in the wallet address and can then be used to create the MBASE token.

The current price threshold for mining an MBASE token is set at $6.50, meaning that when the accrued fees reach this stated price, users can create an MBASE token. Our sources also state that the token is set to be listed on most established exchanges as early as September 2022, which means that everyone will soon have access to the new way of transacting and earning at the same time.

What are the possible features and advantages of the Minebase token(MBASE)?

  1. Cuts across multiple blockchain networks, like Bitcoin, Ethereum, UniSwap, and SushiSwap.
  2. Mining MBASE does not harm the environment, as it only harnesses the energy already expended.
  3. CTP only interacts with decentralised networks, meaning users’ transactions are not recorded on a centralised platform.
  4. Available and easy to use by anyone with a smartphone or PC.
  5. More reach as everyday individuals can now participate in the decentralised economy.

Conclusion: Environment & Blockchain of the Future

Despite its current energy challenges, the blockchain industry has much potential for the future.

Experts in the industry are optimistic since more companies can automate their business practices using smart contracts. The ripple effect would result in reduced reliance on human labour to advance the business and a reduction in carbon emissions from transportation.

While the industry is still in its infancy, protocols like Minebase can propel the market into its next phase.

Date: 19.12.2022

Minebase – The Real Power Of CTP (Creative Token Production)

Cryptocurrency market is full of tokens that are both of great use and have no utility whatsoever. The former tokens or crypto are leading the charts of Coinmarketcap. Opposingly, the latter grade of tokens is usually short-lived and carry no intrinsic value and utility. Minebase is one of the few projects we have seen so far that require attention and we are about to learn why it is so important to the industry.

Minebase
has developed an algorithm that governs the token
supply and therefore alters the number of tokens in circulation based on the market behavior of the MBASE token. You can already find MBASE listed on the leading exchanges, operating and currently used as the utility token for transactions, staking and store of value. But where is the breakthrough you may ask!? It comes from the fact that you too can earn MBASE by making transaction on top blockchains and by walking with your phone in your pocket. Still, there is even more!

What is Minebase (MBASE)?

Minebase (MBASE) is an ERC-20 token with a total supply of 250 million. It’s released into circulation through
Creative Token Production
(CTP), a revolutionary energy-efficient algorithm that is controlled by a smart contract. CTP allows the supply of MBASE tokens through transaction fees on Etherscan, the top 20 decentralized exchanges (DEXs), and the Bitcoin network.

The token is issued by
Minebase, a project that’s transforming
Web3 with an innovative algorithm that increases circulation of MBASE crypto tokens without harming the environment. CTP — the environmentally-friendly algorithm that takes advantage of the transaction fees generated by global blockchain activity.

A simple way to get a Minebase Token with CTP

In response to recurrent problems in the crypto industry, the Minebase team was established to provide consumers with an alternative method for producing new tokens without endangering the environment. These new tokens can be used as a form of payment, store of value and staking, which is a process of generating yield on the tokens you already hold.

Essentially, the protocol enables users to mine tokens with transaction fees using the top 20 decentralised exchanges (DEXs), Etherscan and Bitcoin networks. The CTP concept, also known as Creative Token Production, is used to accomplish this.

The basis of CTP is the concept of mining tokens, which is accomplished by collecting fees from the aforementioned platforms and converting them into its
MBASE token
once it hits a certain price level. Compared to Bitcoin, you don’t need any hardware to create MBASE.

The token is created form fees generated by already existing blockchains, which most importantly decreases the consumption footprint of crypto industry as a whole.

This idea demystifies the concept of crypto mining and opens the floor for various interested parties to mine digital assets.

Anyone can mine the MBASE token through CTP using their PC or smartphone. All that needs to be done is to create an account and a wallet address. All fees paid while executing trades on Bitcoin, Etherscan, and DEX platforms are deposited in the wallet address and can then be used to create the MBASE token.

The current price threshold for mining an MBASE token is set at $6.50, meaning that when the accrued fees reach this stated price, users can create an MBASE token. Our sources also state that the token is set to be listed on most established exchanges as early as September 2022, which means that everyone will soon have access to the new way of transacting and earning at the same time.

Features and advantages of the Minebase token (MBASE)?

  1. Cuts across multiple blockchain networks, like Bitcoin, Ethereum, UniSwap, and SushiSwap.
  2. Mining MBASE does not harm the environment, as it only harnesses the energy already expended.
  3. CTP only interacts with decentralised networks, meaning users’ transactions are not recorded on a centralised platform.
  4. Available and easy to use by anyone with a smartphone or PC.
  5. More reach as everyday individuals can now participate in the decentralised economy.

sourse: cryptomode.com

Date: 09.12.2022

How to earn with MineBase by creating tokens

The cryptocurrency market is full of tokens that are both of great use and others that have no utility whatsoever. The former tokens or crypto are leading the charts of Coinmarketcap. Opposingly, the latter grade of tokens is usually short-lived and carry no intrinsic value and utility. Minebase is one of the few projects we have seen so far that require attention and we are about to learn why it is so important to the industry.

Minebase
has developed an algorithm that governs the token
supply and therefore alters the number of tokens in circulation based on the market behavior of the MBASE token. You can already find MBASE listed on the leading exchanges, operating and currently used as the utility token for transactions, staking and store of value. But where is the breakthrough you may ask!? It comes from the fact that you too can earn MBASE by making transaction on top blockchains and by walking with your phone in your pocket. Still, there is even more!

What is Minebase (MBASE)?

Minebase (MBASE) is an ERC-20 token with a total supply of 250 million. It’s released into circulation through
Creative Token Production
(CTP), a revolutionary energy-efficient algorithm that is controlled by a smart contract. CTP allows the supply of MBASE tokens through transaction fees on Etherscan, the top 20 decentralized exchanges (DEXs), and the Bitcoin network.

The token is issued by
Minebase, a project that’s transforming
Web3 with an innovative algorithm that increases circulation of MBASE crypto tokens without harming the environment. CTP — the environmentally-friendly algorithm that takes advantage of the transaction fees generated by global blockchain activity.

How it Works

The starting CTP price of MBASE is $6.50. This means that 1 MBASE token is created when the transaction fees in a wallet connected to Minebase hits $6.50. The entire token has to be created for the user to receive it. The creation of MBASE tokens continues as the fees accumulate. Users will receive these tokens regularly until the CTP price is $8,633 (the price at 12 months). After the first 12 months, MBASE tokens will be issued annually. The fees paid determine the value of the token.

CTP creates Minebase tokens through four methods:

  • Period of time
  • Automatic wallet addresses
  • Personal wallet address
  • Walk to earn

Here’s how you can create minebase tokens for free using these methods:

Period of Time

The period of time token generation method is a quick and easy way to create a Minebase token for free. It enables users to create 1 MBASE cryptocurrency in slightly over 24 hours after installing the app.

Minebase credits a user’s MBASE wallet with $0.26 immediately after app installation. Every hour, the price grows by $0.26 until it reaches the token creation price of $6.50 at the 25th hour. A code is then generated and is accessible on the user’s dashboard. To receive 1 MBASE token, they must input the code in the required field.

Automatic Wallet Addresses

This method allows users to create MBASE tokens with as many as 20 wallet addresses. Users can mint Minebase tokens with 1 wallet address if they have 10 MBASE tokens in their wallet. Once the token
creation price hits $6.50, 1 MBASE token is created.

A new wallet address is automatically formed in 72 hours, replacing the previous one. If the former wallet has not accumulated $6.50 in fees, the amount will remain and will continue adding up in the new wallet till it reaches $6.50.
Each wallet is charged separately to create MBASE tokens.

Below is the number of tokens you need to deposit to mint Minebase tokens with multiple wallet addresses.

  • You need 10 MBASE tokens in every wallet to mint tokens with 1-5 wallet addresses.
  • You require 20 MBASE tokens in each wallet to mint tokens with 6-10 wallet addresses.
  • You should deposit 30 MBASE tokens to each wallet to create tokens with 11-15 wallet addresses.
  • You must deposit 50 MBASE tokens to every wallet to create tokens with 16-20 wallet addresses.

In total, you require 550 MBASE tokens to mint tokens with 20 wallet addresses.

Minebase

Personal Wallet Address

Besides automatic wallet addresses, you can generate MBASE tokens with your own wallet address. All you need to do is
register it on Minebase
and send some crypto to verify you’ve added a wallet address. For instance, if you want to add an ETH wallet address, deposit ether to the ETH Minebase wallet in your account. Minebase will verify the added wallet address in 48 hours.

The wallet address will start minting MBASE tokens through the transaction fees it generates from the transfer of coins. When the price gets to $6.50, 1 Minebase cryptocurrency is produced. This method does not require the depositing of MBASE tokens. Also, users can register a maximum of 5 wallet addresses. Each wallet address is charged independently to mint MBASE tokens.

Walk to Earn

Walk to earn is a CTP-powered token generation method that will be introduced in Q3 of 2023.
Put simply, it means that users will be able to mint MBASE tokens with their own energy. To use this method, you will have to install the Minebase app and walk 6 kilometers (3.728 miles) to produce 1 MBASE token.

The price accumulates as follows:

  • $0.00108 at 1 meter (0.00062 miles)
  • $1.08333 at 1 kilometer (0.621 miles)
  • $6.50000 at 6 kilometers (3.728 miles)

At $6.50, you will receive a code which you should enter in the respective field in your account to get 1 MBASE token. You will generate 1 Minebase token the faster you walk or jog. This method helps users stay healthy while earning free tokens.

Final Thoughts

Anyone can create Minebase tokens through the methods described above. By joining the project early, you will have the advantage of creating MBASE tokens at a lower price since the CTP is designed to make the creation price rise with time. Moreover, your chances of creating more MBASE tokens are higher now than later when the creation price climbs. So, don’t miss the chance to experience our revolutionary energy-efficient algorithm.
Join MineBase
today!