All you need to know about Mindsync Mining
Benefit and mining with the Mindsync platform
Mindsync offers a unique combination of Ethereum and AI mining
More than 4 million graphics cards are used in Ethereum mining. Mindsync offers Ethereum mining with automatic switching to AI mining that more than five times profitable. Mindsync will offer miners and other platform participants a special application “Mindsync Miner” (modified Ethminer) to enable Ethereum mining and run computational tasks on demand.
Mindsync Miner can be installed on a 24/7 mining farm or on a desktop computer, where it will be active when idle.
The Mindsync Miner will mine Ethereum (ETH) by default and automatically switch to more profitable computing tasks as soon as they are available.
Miner’s fee
Miners will be paid in ETH for Ethereum mining if the application is configured on the Mindsync Mining Pool. Mindsync will charge a 2% fee for Ethereum Mining. Part of this commission will be used to buy and burn MindsyncAI tokens in accordance with the Mindsync token burning program. Mindsync reserves the right to reduce or increase this fee.
Mindsync will pay a reward in MindsyncAI tokens to miners for performing computational tasks. Reward will be paid off for the GPU usage time.
The miner’s reward will be calculated as:
r=PGPU∗G∗R∗k
Where PGPU is a Ethereum mining profitability for GPU (If Ethereum migrates to PoS and optes out of mining, the Pgpu base rate will be calculated on the basis of the profitability of the GPU in mining of the other cryptocurrency where PoW is required.), R is a current Mindsync reward multiplier (R = 5 by default; this value can be changed during the fine tuning of the platform and the GPU market), G is a “gas” price ( G⩾1 , this value can be increased by user to get a higher priority), k is a personal multiplier based on the amount of tokens stored by miner on a platform’s smart-contract and miner’s reputation score. The k calculation algorithm will be published on the platform’s website.
Benefit from resource sharing
Mining allows any platform member who wants to use the platform resources not to buy MindsyncAI tokens and Ethereum ETH to pay for transactions. But accumulate Ethereum and MindsyncAI tokens for their own use by sharing idle computing resources with other members. A common problem with the 23 first launch of an Ethereum-based application (such as the need to purchase both Ethereum ETH and project tokens) can be solved by providing computing resources to other members for lease. This feature allows even students who have a home computer with a video card of sufficient power for the platform or extra disk space and a good Internet connection to use the Mindsync platform without money. During the computer idle time, a new member of the platform can get enough MindsyncAI tokens and Ethereum ETH to run applications on hundreds or even thousands of CPU/GPU, to pay the rent of solutions in the marketplace and the commission of the Ethereum network.
Proof-of-Importance, PoI
Mindsync will use Proof-of-Importance (PoI) as a consensus algorithm for AI mining. Miner that will perform the computation transaction will be selected by Importance value. The Importance is the “trust score” and is calculated based on locked account balance and a quality of service.
Win-win
Mindsync turns Ethereum mining into not only a profitable activity, but also a useful one for business and society. Mining farms are becoming available for computational tasks. At the same time, Mindsync also engages ML/DS developers’ computing resources in mining and supporting the Mindsync platform and Ethereum network. It’s a win-win situation for all the participants.
