What Is GoMining Token (GMT)?
GoMining is an infrastructure project for Bitcoinmining. The project's primary goal is to provide simple access to Bitcoin mining to participants of different levels of skillfulness ranging from beginners to experts. The project's basis is its proprietary data centers and a pool of computing power equipment continuously updated for mining.
GMT is the native bitcoin mining token of the GoMining platform and the essential product of the project, and the link between professional equipment and end-users. The GMT token is based on the ERC-20 and the BEP20 standard. BEP-20 tokens are a type of standard token used on Binance Smart Chain. Each token is backed by a portion of the computing power of the GMT device pool. The token provides the holder with quick access to the mining process. Token holders receive daily mining rewards in their Bitcoin wallets directly from the mining pool. GMT aims to simplify the initial mining process without investing in expensive hardware or delving into the details of setting it up and connecting it.
GMT tokens are highly liquid, and it only takes a few minutes to sell the token; the token does not wear out and requires no additional investment. Users do not need to monitor the maintenance of their equipment. The GMT team closely monitors the maintenance of a stable hashrate of devices. The GMT team uses backup equipment during the repair process whenever an equipment failures occurs.
Also, due to the frequent burning of parts of new tokens, the strength of each token increases without additional investment from its holders. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means, the tokens are lost forever. Tokens are usually burnt to reduce availability and increase market value.
The GMT token is used as an initial payment for equipment placement in a GoMining data center and as a payment for data center equipment rental. The token is also a payment option for equipment maintenance at GoMining service centers. GMT is also used to purchase mining equipment for inclusion in the following GoMining data centers and purchase branded products on the GMT website. Lastly, the token gets distributed as a reward in GMT marketing events.
History of GoMining Token
The token's total supply as per the ERC-20 standard is 131,967,458 tokens, and the total supply on the BEP20 standard is 10,000,000 tokens.
