This article introduces Proof-of-Loyalty (PoL) Mining. A cryptographic mining method that is totally new and set to potentially grow to a multi billion dollar industry. This would explain to you how and why you can take part in this!
Bitcoin mining as we know it, is a multi billion industry. Big mining farms are setup all over the world.
Bitcoin production is about 1,800 Bitcoins per day. Miners collectively earn about an equivalent of USD 18,000,000 per day. That is assuming that Bitcoin is USD 10,000.
In Bitcoin’s infancy stage, you can earn about 5-10 BTC per day just by mining it with a simple video card.
Such days are no longer, as there are more and more competitive farming done all over the globe.
Mining on specialized hardware generally takes between 8 – 18 months of continuous operating to break even. Expensive electricity and also the mining machines are very noisy.
If you spend over S$ 100,000 on the above mining hardware, you would take between 8 – 18 months to break even on continuous running. After that, the hardware would not be useful. You would have to spend S$ 100,000 to replace the hardware.
Cloud mining lacks transparency. You do not know how they are doing mining on your behalf. Even with cloud mining, you would take a year to break even.
Not to mention bitcoin mining, your hardware would experience asset depreciation. Your hardware would not have resale value and would need to be disposed off with no returns.
Pure conventional Proof-of-Stake (PoS) does not have the problems of Proof-of-Work (PoW). However, most Proof-of-Stake (PoS) do not have huge returns as most mature Proof-of-Stake (PoS) has high prices that favour earlier adopters and most people would not be able to get preferred pricing earlier adopters get.
Introducing Proof-of-Loyalty Mining. For those more technically inclined, you may read the detailed Proof-of-Loyalty white paper by clicking on this link.
Network nodes are in the process of being setup. For Proof-of-Loyalty mining.
No expensive mining hardware to purchase.
You just need to buy Katalyst to outsource to our nodes for Proof-of-Loyalty for us to mine for you.
Immense resale value as Katalyst is listed in BartyDEX (soon to come) and WavesDEX. Unlike hardware purchase in Bitcoin cannot give you resale value at all. Proof-of-Loyalty (PoL) mining gives you both Coins that have value and also your original purchase to be a part of the mining can be resold.
Katalyst would increase in value as projects are going to use Katalyst as one of their tokens to pay for the fees of Proof-of-Loyalty (PoL) mining.
Presently, the first major project to use Proof-of-Loyalty (PoL) to record and reward community’s activities on the blockchain platform is OToken – the project designed from ground up to disrupt Hollywood industry. Many more would come.
Bitcoin Mining partially contributed to the increase of market cap of Bitcoin from small millions to the present USD 196 billion.
For Proof-of-Loyalty (PoL), it is just at the beginning. Being the first, and with others new / old projects adopting Proof-of-Loyalty (PoL), the value of Katalyst and the related outsourcing income to Proof-of-Loyalty (PoL) mining nodes can only go up.
Be part of the pioneers, if you are keen to participate in the Katalyst Token Generating Event, please click on this;