Early Adopters are taking advantage of TAU’s “Mining Power”
It’s been a wild week for Team TAU
7 days ago there were a total of 1653 wallet users of TAU — today its reached 6000 wallets. People are signing up faster than ever and claiming as many free coins as they can.
TAU has now distributed 20,000,000 TAU coins to these users and is increasing their drop rate over the next few days.
But why has interest suddenly spiked? What happened to get so many people signing up all of a sudden? Its all because of the best kept secret in TAU, “Mining Power”.
What is “Mining Power”
You might think this has something to do with hash rates and ASICs; that the “Mining Power” (MP) is a reflection of how much hardware is being added. That’s what we traditionally think of when we think of mining, but in TAU, everything revolve around transactions.
Put simply, “Mining Power” is a users total transactions over the last year. The higher their MP, the higher their share of the block reward. The more someone transacts, the more they receive at every block reward. That doesnt sound like a great way to generate a profit though, because every transaction has a fee.
But referrals dont have a fee. The early adopters on BitcoinTalk figured that out this weekend and started referring new friends like crazy. The result? Total transactions increased 3940%! The current daily transaction count is now close to 1000 a day, making TAU one of the highest transaction count coins in the world. Thats pretty impressive considering how new the project is and its already surpassed its predecessor, NEM.
Ok, so I can get more coins today. Why is that such a big deal?
Actually its not only coins that the early adopters are getting a hold of, its also the future benefits of Mining Power that they are building up.
Every transaction is counted in their historical accumulated count, which means that these users are getting a head start on everyone else and building up their MP to ensure they continue getting an advantage in the future! If someone eventually wants to become a miner, its as if they already have purchased 100’s of ASICs and just need to turn them on. Their Mining Club will already have all of their previous transactions, and this also includes the transactions of their referrals!
The mining club delegation system is like a “tree”. The more leafs (referrals for example), the more MP the club will have. When you wire or refer new users to receive TAU, they become your “leaf”. This is the key that the BitcoinTalk Community figured out before everyone else
Another benefit of a strong Mining Power is on chain voting. TAU allows mining club leaders to decide many important facets of the TAU chain, like block size, block time, or even how long the history window should be! People with more Mining Power get more Voting Power. What keeps this kind of system fair is that anyone can build up their Mining Power without investing money.
Its clear that the advantge in TAU doesnt go to the richest people, but to the ones who work the most.
