Know all about AuraPool

Cudos recently announced the addition of Aurapool to the Cudos family, which is unique and the first of its kind in the NFT marketplace in the crypto industry. After making a wild guess before the announcement of AuraPool, I will try to explain AuraPool as simply as possible in this article so that everyone understands everything.

What is AuraPool ?

AuraPool is an NFT marketplace where you can buy and sell hashrate collectibles created by clean energy bitcoin mining farms. which will represent a part of hashrate in the form of NFT in your wallet, which will generate bitcoin for you.

How will this work ?

Consider a clean mining farm that is determined to tokenize its mining farm on the Cudos blockchain using AuraPool.

• First, they have to figure out how much hashrate is produced by their machines in the mining farm; suppose their mining farms are producing 100 T/s, and they want to tokenize this in the form of NFT according to their calculations.
• Assume they decide to launch 100 NFT, each with one 1Th/s.
• Now, this NFT is the tokenized infrastructure of those mining farms, so if you decide to buy 1 NFT, it will generate bitcoin for you at a hashrate of 1 Th/S, which can range from a few years to a lifetime.

So these are the steps on how this is going to work.

Why do we need AuraPool ?

AuraPool is trying something new in the market by tokenizing the mining sector using NFTs, which will allow sustainable energy mining farms mine Bitcoin. Furthermore, it will encourage other bitcoin mining farms to switch to renewable energy mining.

It also has a high utility for NFT buyers; if you buy these Hashrate collectible NFTs, you are mining bitcoin just by holding the NFT.which helps reduce electricity consumption because doing your own mining will cost more than holding NFT in your wallet, which will mine bitcoin for you, and also the bitcoin are all coming from green energy sources.

Can We Trust AuraPool?

AuraPool is not a new firm or project; it is an expansion of the CUDOS family, with the same crew. If you believe in CUDOS, which has been developing in the crypto space since 2017, you can trust in AuraPool.

What about NFT providers?

When it comes to who can launch their NFTs on AuraPool, mining farms who want to tokenize their infrastructure must go through a thorough assessment by the AuraPool team. If they pass all of the testing, they are ready to go and can launch their NFTs on the market.

More about AuraPool

Aside from NFT buyers, collectors, and bitcoin miners, AuraPool is bringing gamers onto the platform. Gamers can compete for hashrate NFT, and there is also the possibility that a team can organise some kind of competition in which gamers participate, such as a tournament for gamers, to make mining Bitcoin more enjoyable for everyone.

Follow Aura Pool on Twitter

About Cudos

Cudos is powering the metaverse bringing together DeFi, NFTs and gaming experiences to realise the vision of a decentralised Web3, enabling all users to benefit from the growth of the network. We’re an interoperable, open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralised, permissionless access to high-performance computing at scale. Our native utility token CUDOS is the lifeblood of our network and offers an attractive annual yield and liquidity for stakers and holders.

Learn more:

Website, Twitter, Telegram, YouTube, Discord, Medium, Podcast

New to trading? Try crypto trading bots or copy trading on best crypto exchanges