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Since cryptocurrency platforms keep popping up each passing day, all that’s left is for miners to stay updated with the upcoming one. That information is essential because it makes it easy to make the right decision when choosing one. First, some platforms are a scam, and that’s something every investor will have to avoid, like a plague, to avoid incurring losses.
Even when it comes to legit platforms, some are better than others, explaining the need to understand them comprehensively if you want to choose one of the best, if not the best, crypto investment platforms. That’s why this piece focuses on one of them, the Miningwatchdog.
It leaves no stone unturned regarding this peer-to-peer cryptocurrency investing platform, not forgetting its decentralised multi-utility tokens. So, let’s dive into it without much ado as we unveil everything you need to know about the platform.
A Brief Overview Of Crypto Mining And Miningwatchdog
The growth of cryptocurrencies over the last few years has been notably rapid. What do you expect when more and more people are getting interested in them each passing day? The likes of Bitcoin and Ethereum are some of the most popular and rapidly growing cryptocurrencies. As the demand for these cryptocurrencies increases, crypto mining follows suit. In addition to that, the rise of many mining platforms has also boosted the mining sector significantly. Miners have several options to think about when crypto mining, from remote hosting services to cloud mining platforms.
That’s where the Miningwatchdog platform comes in. It combines blockchain and cryptocurrency, among other features, to monitor crypto mining. It also keeps an eye on the various devices by providing necessary information and live updates.
If you are a crypto miner trying to figure out how, where, and when to mine cryptocurrencies, that’s an excellent place to find out such information, no doubt. The platform allows you to buy or sell cryptos, altcoins, crypto mining equipment, and hash rate. Furthermore, it has mining pool servers and serves as a great and advanced escrow system. We will be discussing these in detail shortly.
What Are The Problems With Crypto Mining?
It is no secret that it hasn’t been a smooth ride for crypto miners. The various problems facing the industry are a clear indication that it hasn’t been easy. They include:
First, getting started has proven to be quite challenging. That’s due to the need for hashing power since blockchain networks need it for transactions’ confirmations. Consequently, miners require various pieces of equipment to happen. They have two options to handle it, and none of them is straightforward. One of them is to look for a reliable miner, and one must admit that it can be hard to come across one. On the other hand, the other option is setting aside money to acquire the necessary mining equipment, which is quite expensive.
Secondly, chances of losing investment are high, especially when dealing with various cloud mining organisations. These companies are usually strict, and their unfair contracts make the situation worse. Since they are single entities, one can only expect a single service from them. They are at liberty to terminate the miner’s contract at any time resulting in loss of investment when they decide to do so.
It is important to note that platforms don’t combine hash rate services and cryptocurrency marketplaces, posing another issue. Therefore, you will need to buy or rent mining equipment first. Once you mine, you then start looking for a place to buy and sell coins mined.
How Does Miningwatchdog Help Solve Crypto Problems?
Fortunately, Miningwatchdog has several solutions to various mining problems. Let’s discuss them in detail.
For example, it is a cheap alternative to any crypto miner looking for mining equipment. After all, the peer-to-peer marketplace puts used yet effective mining equipment at your disposal, and the prices are also pocket-friendly. Therefore, for anyone looking for GPU and ASIC miners, that’s a place to go to, and you need not break the bank to acquire one.
If you find it impossible to afford the mining equipment, all is not lost since Miningwatchdog also sells hash rate. Besides affordability, the mining contracts you get into are fair.
Mining is also not the only way of pocketing coins as far as this platform is concerned. On the contrary, you can also get them as a reward for participating in the ICO. The participants get to pocket their Smartchain Tokens, MSC. Last but not least, Miningwatchdog maintains a high level of transparency. It is achieved by recording every transaction and activity on an Ethereum blockchain.
What Is The MSC Token?
MSC token is an ERC 20 token that’s the primary currency when transacting the Miningwatchdog platform and is based on the Ethereum blockchain. Upon submitting a request, it will be sent to a peer-to-peer network comprising many computer nodes. Their role is to verify every transaction and add the required details to the Ethereum blockchain upon their confirmation. Its significant use is buying and selling goods on this marketplace whenever a need arises.
The 3 Token Sales Events
Below is a discussion of some of the events to look out for regarding MSC token sales.
Pre-Sale
Miningwatchdog has a pre-sale on 30th August 2021. The price of an MSC stands at $0.5, whereas the total of available tokens is 40 million MSC.
Public Token Sale
Another sale event will take place between 14th September 2021 and 18th September 2021. Within this period of the public sale, the price per MSC will be $1.5. As for the tokens, the amount is up to 43 million MSC.
Private Token Sale
Once the previous event lapses, the next one will be a private sale between 6th October 2021 and 20th October 2021. This event will take place in two phases, and these are the details.
– 1st Phase
The first phase will have a vesting period of 4 months. The price per MSC will be $2.5, whereas the limit will be 50 million MSC.
– 2nd Phase
On the other hand, the vesting period of the second phase will be two months. The price will go up to $4 for every MSC. Last but not least, the trading limit will be 50 million MSC.
The distribution of the ICO sales is as follows:
Pre-sale takes up to 8% whereas public sale takes a slightly high percentage, 8.6%. On the other hand, private sale’s limit is 20%, and strategic sales will account for 6%.
What Are The Features Of The MSC Platform?
Miningwatchdog is a marketplace that has several incredible features. They include transparency, decentralisation, and programmability, and this is how they benefit the investor.
Decentralisation: It eliminates the importance of having a centralised authority. That eliminates the chance of the platform failing at a single point.
Programmable: Technology has many ways of making things easy, and embracing it is something a miner should consider any day when it is available. Fortunately, this MSC platform has made it available. Consequently, transaction recipients can either be human or smart contracts.
Transparency: Equally important, Miningwatchdog is a marketplace that records every transaction. The records are also available publicly, and they will remain unchanged forever regardless of time.
Use Cases of the Tokens
Besides features, the token also has several use cases:
Advanced Escrow System
With scammers taking every opportunity they get to exploit people; this use case is important. Its sole purpose is to eliminate such opportunities by ensuring that the seller doesn’t receive the payment until the buyer is satisfied with a particular product. Under such circumstances, the chances of getting scammed reduce if not becoming zero. There is also the peace of mind that comes with doing a transparent, secure transaction. That’s what this use case is all about.
The involved parties can include choosing open or anonymous options. As the names suggest, the open option means that the buyers and sellers transact openly. Through a live video conference, the parties agree on the sale in the presence of a Miningwatchdog agent. Besides video conferencing, a live chat may also apply, and all the necessary parties are included, not forgetting the escrow agent.
As for the anonymous option, no escrow agent from the platform is involved. The entire transaction is a secret explaining the high risk involved in this case. That said and done, the escrow system ensures that the seller doesn’t get the payment until the buyer approves the product.
Crypto To Crypto Exchange
Additionally, the platform is no different from typical exchange platforms for crypto-to-crypto exchange. However, you must be a verified Miningwatchdog member to have this privilege. Another condition for the approval is being a miner who has recently carried out cryptocurrency mining. If that’s the case, it will be easy to exchange your crypto and another one. Equally important, one can buy cryptocurrency using supported fiat with ease.
Hashrate Sales P2P
For someone unwilling to buy mining equipment or join a cloud mining company, peer-to-peer hash rate sales is a great option. It is also suitable for miners with power issues, which is common in underdeveloped or developing countries. Under such circumstances, mining can be hard, but the platform makes it easier as a marketplace that sells mining power, often called mining hash rate.
If you are wondering how it works, miners choose to sell the crypto mining power of their equipment to the public. That earns them a place in the pool of miners. All participants get to share the profit equally depending on the hashing power they contribute to the pool.
Crypto Mining Equipment P2P Marketplace
Another use case is serving as a marketplace for crypto mining equipment. It is important to note that the equipment is usually used hence comes at an affordable price. Despite being used, expect high-quality mining equipment. Whether you are a buyer or a seller dealing with this equipment, rest assured that Miningwatchdog will ensure that the transaction you undertake becomes successful.
As for the buyers, you have an opportunity to buy great mining equipment without having to break the bank. Don’t make a mistake that some of the crypto miners have made in the past. For instance, some of them have had to pay too much for the equipment only to find that what they got wasn’t worth what they paid in return. There is also a great benefit of buying used products. In most cases, especially when using such a trustworthy marketplace, you get to take home something amazing at a relatively low price.
On the other hand, sellers get to post their offers and ads on the platform. Besides making it easy for buyers to find mining equipment, it simplifies finding a buyer that is beneficial to the seller.
Mining Pool Servers
In this case, crypto miners come together to form a mining pool. Each one of them contributes computing power used to mine cryptocurrencies. At the end of the day, success mining means getting cryptocurrency tokens. Every participant receives a share of what the mining pool makes collectively. Nevertheless, the amount may differ from one miner to another since it depends on how much power the individual contributed to the mining pool.
Notably, the individual miners will have to prove their work or processing power contributed to the mining pool. The servers are in three continents, North America, Asia, and Europe. They also support commonly mined coins, ASIC and GPU mined coins.
With a list of various pools at your disposal, it also becomes easy for a user to compare them, and that’s important when determining the most convenient and profitable one to mine on.
Conclusion
From the above discussion, it is evident that Miningwatchdog is multifaceted. It also has various ways of solving problems facing the crypto mining sector. The platform has remarkable features, including decentralisation, transparency, and programmability. These are some things that investors should pay attention to at all times.
MSC token has proven to have several use cases, too, and their advantages are impressive. Last but not least, the marketplace has ICO tokens, and that’s a fantastic cryptocurrency investment opportunity an investor should take advantage of, indeed. Since the details, including dates and limits, are at your disposal, the ball is now on your court.
References:
https://token.miningwatchdog.com/docs/MSC_onepager.pdf
https://token.miningwatchdog.com/docs/MSC_Whitepaper.pdf
https://token.miningwatchdog.com/docs/overview.pdf
https://token.miningwatchdog.com/
https://miningwatchdog.com/blog/
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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