Right from its inception, the cryptocurrency industry has always been more reliable than the regular financial system, as it possesses the capabilities required to grant the world, more efficient and dependable financial system.
There are numerous benefits which the introduction of cryptocurrency has brought to the global masses, especially those who choose to adopt it, considering its superiority when compared with the regular system.
It presents unlimited opportunities for users by simply making financial transactions to be easy for them and hence more rewarding, alongside the provision of different avenues through which one could earn.
The blockchain is the technology behind the success and the entire operation of cryptocurrencies, seeing as an efficient transaction tool as advanced and reliable as the cryptocurrency needs to be built on the very best technology.
Blockchain technology is an integral part of the cryptocurrency industry, as it does not just facilitate the creation of these digital currencies, but also helps drive their functioning, just to ensure that its users get satisfactory services while making use of it.
Aside the fact that blockchain is the bedrock of the digital currencies, it is also being used in different industries across the global system for one purpose or the other, all with the aim of improving the quality of services rendered to its users, in turn contributing greatly to the global system.
Different decentralized applications also known as DAPPS are also in existence through blockchain, as it facilitates the creation and deployment of decentralized applications with well defined use cases.
One of the very few systems that has been able to harness the power of blockchain and other advanced infrastructure to make lives better for everyone in the digital system is Cartesi.
For those who have little or no knowledge about the system, and might have questions like…
What Is Cartesi?
Don't worry, we will have a quick rundown of the system.
Cartesi is an efficient system which was created with the aim of improving the digital system by serving as a fully scalable Dapps system, where improved decentralized applications can be created and developed with the help of the blockchain and the Linux operating system.
With these tools, efficiency, security and scalability of DApps created on it are guaranteed, in a fully decentralized and cost efficient manner.
One of the very recent benefits added for the profitability of the global users is the mining feature.
Cartesi Releases Its Mining Feature
Cartesi, admist all the benefits already opened to its users, has added another avenue through which users on its system can earn great benefits from the system through mining on the system.
This way, every user of the platform will be able to earn the system's token easily, simply by participating in the running of the network's node, to its efficient functions.
Through this mining feature introduced by Cartesi, users will enjoy unrestricted benefits from the system, improving their financial status in the process.
How The Cartesi Mining Works
The mining launched by Cartesi is carried out through the use of its PoS (Proof-of-Stake) system to select block producers in a transparent and decentralized manner.
With the Cartesi PoS, block producers that are very important for the Cartesi side chain will be selected at a reduced cost.
A participant of the mining activity on Cartesi simply has to run a node so as to be selected as the block producer, in turn earning the token rewards from the system.
The users of the system are given the opportunity to participate in the selection process of the block producers through a form of lottery where participant's chances are increased greatly by the number of tokens staked, to ensure that the selection is done randomly.
By randomly selecting the block producer from the number of users running nodes on the network, the system is made transparent for the users and the block producer selected at random is automatically qualified for the block rewards from the system. With this, every interested party will be able to profit unlimitedly from the system.
The Mining Reward Pool Allocated By Cartesi
To ensure that the mining process is efficiently executed, with the earned rewards released to the participants in due time, Cartesi has set aside funds to make this possible.
25% of the entire CTSI token has been allocated by Cartesi for the mining operation throughout the entire period, and to make sure that the fund is used for the mining purpose alone, Cartesi has deposited it into a reliable smart contract to make for effective withdrawal.
The 25% of the CTSI supply kept for the mining will be released gradually throughout the mining period, just to ensure that it is spread out, in different batches.
The mining operation released by Cartesi will definitely make way for more developments in the system such as a staking feature to make the entire operation easy and more profitable. Facilitated by the Cartesi PoS (Proof-of-Stake), the mining operation makes the selection of block producers to be easier and more reliable, while giving node runners a chance to earn from the system. You can read more on how Cartesi mining works here.