MinedBlock Launched To Turn Mining Into a Service

Agnes Grimm

5 years ago

For every blockchain behind any cryptocurrency, be it based on PoW, PoS, PoE, or PoP, mining remains an essential part. While some tokens start pre-mined at 50% or even 100%, the majority of the cryptos out there run on their blockchains with the existing mining algorithms. In short, miners support a blockchain network which is decentralized, at first, but which get centralized as the costs to start operating on them increase. MinedBlock is there to present a reliable model for investors by turning the mining into a service. MinedBlock platform also runs its own cryptocurrency, dubbed as MBTX.

About MinedBlock and the MBTX token

MinedBlock plans to build a dedicated mining facility that will center on extracting multiple coins from the top 50 by market capitalization to make sure that a wide range of revenue streams for customers is in place.

The MinedBlock project is led by Greg Wales (CEO) & Paul Bishop (COO), and Matthew Ruff (CSO). They proposed a platform oriented towards mining as a service, which would address the usual difficulties of cloud mining service. MinedBlock plans to do that by running an STO and through transparency and equal participation.

MinedBlock will operate the Security Token Offering, or the STO, using Polymath ST20 fully compliant tokens. In short, the platform will give clients access to a large-scale mining operation without them requiring to purchase costly mining equipment and pay extra money to configure, maintain, and use the mining tools.

To achieve that, the MBTX token will sustain a feedback ecosystem, creating an ecosystem that will keep mining as a service.

Details on the MinedBlock MBTX token

The company, MinedBlock Holding Limited, will keep 75% of the total Mining Service, while shareholders would possess 95% out of that before-mentioned amount. To participate in the STO, customers have to comply with anti-money laundry and KYC policies.

During the MBTX STO, the MBTX Security Token Offering is currently running with a 5% bonus on purchases. MBTX tokens are priced at $0.15 each.