Bither Platform incentivizes miners in several ways!

BitherPlatform
Mar 13 · 2 min read

Considering the nature and structure of the network, mining the Bither platform’s coins would be ASIC resistant; it means that only graphics cards and CPUs can be used for mining.

Explanation: Nowadays, Bitcoin mining has become the monopoly of companies that have invested only in mining. The monopoly of mining subsequently leads to unequal distribution of digital currency; this is at variance with the primary philosophy of Bitcoin founded by Satoshi Nakamoto. Bitcoin was supposed to be a digital currency that anyone with a personal computer could take part in and mine new coins; currently, it is no longer possible to mine bitcoin with a PC at home as there is no chance to compete with big mining farms. The reason behind this monopoly of mining is the production of special processors that are designed only for mining (Application-Specific Integrated Circuit — ASIC). Graphics processing units (GPU) and central processing units (CPU) are not able to compete with these ASICs. One approach toward preventing such a situation is to make changes in the hashing algorithm, in a way that no one would be able to design an ASIC for mining.

By implementing a modern architecture for mining and defining trusted masternodes, the Bither platform presents a new solution to this problem. The role masternodes play in the distribution of hashing power, is an innovative approach to solving the problem of ASICs. This way, ordinary users will continue to be able to mine coins.

This is as secure and stable as a ‘Proof of Work’ network because We have made Bither Platform incentivizing enough for miners to make sure it can attract as much hashing power as other secure ‘Proof of Work’ networks.

BitherPlatform

New Eco-Friendly and Layered Decentralized Economy: Three-layer solution, Multi-mining capability, Optimizing the energy consumption. https://bitherplatform.io/

BitherPlatform

Written by

New Eco-Friendly and Layered Decentralized Economy: Three-layer solution, Multi-mining capability, Optimizing energy consumption. https://bitherplatform.io/

BitherPlatform

New Eco-Friendly and Layered Decentralized Economy: Three-layer solution, Multi-mining capability, Optimizing the energy consumption. https://bitherplatform.io/