What is Minereum (MNE)?
Minereum aims to bring the self-miningsmart contract to the cryptocurrency world. Mining on the platform is performed on the fly with a mathematical formula. Thus, no mining equipment is required, and hence self-mining takes place.
According to the whitepaper, with the current growth of blockchain technology, smart contracts are becoming the future of the financial system. From creating a token, insurance, or an entire election voting system, blockchain technology enables anyone anywhere, anytime to replace and disrupt entire market sectors. Surprisingly, all of the processes can happen with just a few lines of code. Meanwhile, all government institutions and functions are now being created with trustless trust, without any central authority in the middle to block it. Minereum aims to contribute to the ecosystem by introducing a mining approach in the cryptocurrency space. The proposed mining approach tends to be transparent, fair, and shared by all the participants.
While elaborating on the platform's features, Minereum Smart Contract seeks to come on top. Smart contracts are just like regular contracts. However, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. The smart contract tends to be deployed on the Ethereum blockchain. Next comes the process, which mentions some important features of Minereum mentioned below.
Genesis - The first phase collects as many Ethereum addresses as possible. Conducted openly in online forums, the phase allows anyone to provide the address. The addresses collected then get incorporated into the smart contract and are termed Genesis Addresses. Surprisingly during the first airdrop, 4,268 Genesis Addresses were collected.
Supply - In the second step, each address gets attributed a total of 32,000 Minereum (MNE) tokens. The total initial supply was set to 38,324,288,000 MNE and varied depending on Genesis Addresses.
Mining - The mining process starts whenever Genesis Address owners upgrade the addresses to Level 2 or Level 3. The mining process intends to run for 100,000,000 Ethereum blocks with a reward of 0.00032 MNE per block. To prevent instant inflation, each address is allowed to transfer only a few coins depending upon the blocks of the Ethereum blockchain.
Mining Precision - Minereum allows mining with no need for mining equipment or mining pools. The process takes place by the code itself.
Minereum (MNE) is the native token of the platform. MNE is a cryptocurrency operating on the Ethereum platform.
History of Minereum (MNE)
Minereum was launched in 2017. The maximum total supply of Minereum (MNE) is 14,605,619.08608 MNE.
