If you do some sort of crypto mining, you might have heard of Maximining. But what is MaxiMine and what can you do with MaxiMining? MaxiMine provides a simple, blockchain-based method for the distribution of mining rewards. By combining staking, smart contracts, and its own token, MaxiMine creates a "cloud mining pool" system that is as transparent and open as the blockchain itself. This article will explain more about Maximining.
What is Maximine?
The Singapore-based MaxiMine project attracted media attention in early 2019 after a triple-digit price surge propelled the platform into the top 100. Since the launch of the project in 2017 and the completion of the ICO in 2018, the platform has operated under the banner of globalization of cloud mining and eliminated the “hassle” in the process. The platform is promoted as a distributed mining pool revenue system with a business model that relies on token staking in exchange for convertible hash power for mining. All of this should be possible for a wider range of cryptocurrencies of user choice.
By building a reward distribution platform on a public blockchain such as Ethereum, MaxiMine can provide transparency and openness that centralized cloud mining platforms cannot. The mechanism, fees, and processes of the platform are transparent and anyone can participate.
Who invented MaxiMine?
Cai Hua, who has been operating mining farms in northern China since 2013, is the founder and current CTO of MaxiMine. MaxiMine holds more than 20 patents related to crypto asset mining, including the BTC-BOX, a mining rig built inside a shipping container. The BTC-BOX is a self-contained mining unit optimized for climate control and durability that can be easily and quickly set up almost anywhere.
What can you do with MaxiMining?
Holders of MXM tokens are essentially investors in MaxiMine's mining operations and are therefore entitled to a share of mining rewards from mining farms. MXM token holders must stake their tokens on the MaxiMine platform to receive mining rewards. This means that anyone who can buy and stake MXM tokens can participate in crypto asset mining.
How does the MaxiMine app work?
To ensure smooth interaction with the MaxiMine ecosystem, the MaxiMine app will be used as the most important control interface for any investor. The MaxiMine team chose the mobile option to be able to simplify design functionality and reduce the risk of web and phishing attacks.
Key features of the app include:
- The app is used to check the balance and status of active contracts
- User's profile and account are managed by the app
- Rates and returns associated with specific contracts can be checked
- If a user/investor wishes to stake MXM tokens for additional contracts, this can be done through the app
- Multiple wallet addresses for mining cryptocurrencies can be synced and verified
- Users can view daily return rates and forecasts
- The app simplifies the extraction of mining rewards
So I hope now you will understand what is MaxiMine and what can you do with MaxiMining. MXM stakes or investors get 80% of their mining rewards from their computing power. The remaining 20% of mining rewards are used for operating expenses and reinvestment in mining farms.
