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MoonLite – A Timely Disruption for the Crippled Crypto Mining Model

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Moonlite

Cryptocurrency mining operations have come a long way since the early days when bitcoin first came into the scene. When Satoshi Nakamoto launched the innovation in 2009, his objective was to have a decentralized currency that users could mine from home.

True to his dream, early movers used basic CPUs to solve the mathematical puzzles required to generate new coins. But this simple mining approach fast became obsolete as miners flocked in and the puzzles became more complex.

Fast forward to the present day, some studies point out that the amount of electricity required for mining in the bitcoin industry alone is sufficient to power small countries like Ireland for an entire year. This massive electric energy consumption arises from the advanced equipment used for mining, the technology as well as the location chosen.

This is where the MoonLite project comes in, as it seeks to streamline mining operations in a number of cryptocurrencies so as to reduce the negative ecological impact of the activity. The MoonLite model proposes a number of unique approaches that set it apart from the competition and give it a remarkable edge.

Smart Mining Solution

The MoonLite project plans to start industrial scale mining operations on bitcoin, Litecoin, DASH, Bitcoin Cash and even Ethereum (depending on prevalent profitability) by August 2018. This choice of currency is in itself a highlight as the project only targets the most stable and profitable opportunities in the crypto industry. In addition to making strategic choices in this regard, the project also aims to implement a smart mining approach that will optimize the potential of the operation.

The development team is working on custom algorithms and Artificial Intelligence models that will lead to the highest possible operational efficiency and create autonomy in the data centers. This customized smart mining solution will also reduce mining costs while increasing the profit margins from the activity. It is also planning to create a team of youthful, tech-savvy individuals to exercise control over this custom system at all times to minimize downtime.

Strategic Equipment Sourcing

The MoonLite operational plan incorporates a clever equipment sourcing approach that will lead to notable benefits. All of the ASIC equipment that the project requires in order to set up mining operations will be purchased directly from the manufacturers. The team has already established strategic business relationships with three of the biggest mining equipment suppliers namely, Bitmain Technologies, Bit Fury and Pin Idea.

The company will make purchases at scale in order to qualify for high volume discounts. These high volume purchases will also avail the project of high-level support provisions from the manufacturers. And the fact that all equipment will be the property of MoonLite will serve as a hedge against potential failure thus securing a huge chunk of the investment capital.

Moreover, MoonLite is planning to implement an aggressive equipment replacement program to ensure top performance at all times. The project will have in-house nodes for every currency being mined and will execute its operations in several pools.

The Ideal Location

The project will set up a number of data centers around the globe and the first location chosen is Iceland. This is one of the world’s most popular data center locations because of its production of green energy. All of the electricity produced in Iceland is 100% clean and green as it comes from wind, geothermal and hydro sources. This fact has contributed to it being a low-tariff region that will allow MoonLite to minimize operational expenses. It also has political stability, a developed infrastructure network, low temperatures to keep cooling expenses on the low and VAT exemption on data center equipment.

Future Prospects for Moonlite

One of the most outstanding benefits of the MoonLite project is that it focuses on an area that few others have dared to venture. There is a significant gap in the current mining model and the early mover status of this project gives it a high likelihood of success. It takes a strategic, technologically advanced and ecologically friendly approach to the concept thus optimizing the efficiency of the model.

The combination of strategies that the project seeks to employ will keep the data centers at the base of the operational costs curve. This will offer a hedge against potential risks such as currency devaluation and an increase in energy tariffs.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Heather Buckley via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

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My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first…

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