Victoria, Hong Kong, June 07, 2022 — Tminer is launching innovative minting hardware called Tether Miner which lets miners earn USDT rewards for running an automated node.
Understand cryptocurrency mining
In 2009, the first decentralized cryptocurrency, Bitcoin, was created. Since then many cryptocurrencies including stablecoins have earned their highest valuations in recent years. Once the world saw the size and potential of blockchain technology, it began to adapt and innovate. With cryptocurrencies entering the mainstream with a bang, more and more companies are emerging every single day to bring innovation to the world of blockchain. As a result, companies like Tminer are innovating cryptocurrency mining. Tminer is launching innovative minting hardware called Tether Miner which lets users earn USDT rewards for running an automated node.
The method of earning cryptocurrencies as a reward for solving complex mathematical and computational problems is called mining. It’s possible to earn stablecoin via mining but it can be complicated to break this down. The process of stablecoin mining is how data within the blockchain is secured and verified, in other words, audited. The mining process involves solving incredibly complex computational math problems and executing complicated algorithms. As a reward for their work, miners receive cryptocurrency tokens in exchange for mining. As per the chart by blockchain.com the total value in USD of coinbase block rewards and transaction fees paid to miners is close to $27.5 million for June 5th, 2022. This shows that the adoption of blockchain technology is giving miners sufficient incentives to mine.
Stablecoin mining with Tether Miner
The easiest way for the average investor to buy and sell Tether’s stablecoins is through a cryptocurrency exchange. USDT is widely used by traders and is available on most crypto exchanges. The growing consumer interest in Tether has led to new innovations in stablecoin rewards and mining technologies. Tminer is releasing the beta version of its first hardware product, Tether Miner, which has been engineered to reward users with USDT tokens. Tether Miner’s technology is developed to combine the stability of USDT tokens with the rewards mechanism of minting a digital currency.
As per messari.io, the average USDT transaction volume per day in June was just shy of $10 billion. The huge transaction volume and a large number of USDT transactions enable Tminer’s mechanism to leverage the fluctuations in USDT price to benefit from every transaction. Tether Miner, primarily active on the Ethereum blockchain, will balance the supply and demand of circulating USDT, acting as the middlemen between the buyers and sellers of USDT. This innovative technology aims to take a dig at centralized characteristics of USDT.
Tether Miner’s technology is based on the high utilization and stability of USDT tokens. The hardware system uses a proof of equilibrium (PoE) consensus to maintain the transaction stability and leverage USDT price changes during the time of transactions to benefit from every transaction. By the end of every Transactions bundle ratification (TBR), the system generates a small percentage of USDT to incentivize the miners. The chain is linked to an oracle protocol, which monitors total USDT in circulation, transaction volume, and the changes in the exchange rate of USDT to US dollars. The Tminer’s mechanism retrieves transaction data packets from the USDT-Ethereum blockchain system and applies its controlling process to generate and save USDT. The hardware automatically allocates a portion of saved USDT to miners as an incentive to continue running these nodes. Tether Miner delivers a stable cryptocurrency income that eliminates the volatility and unpredictability associated with traditional cryptocurrency investments.
The Beta version of Tether Miner is ready to hit the market
Tither Miner utilizes a plug-and-play mining system that can be assembled and activated in a few simple steps. This involves plugging a power supply, enabling the network, and setting up a USDT-ERC20 wallet address. The beta version of Tminer will be ready to be shipped in June 2022. The hardware comes with an instruction guide for activation and operations. The hardware is equipped with the industry-leading Rockship RK1808 processor and comes with a 5dBi dual-band antenna for a faster and more stable connection. The system has a built-in 32GB eMMC flash for better data security storage. It is made to consume low power, starting at 10W, which is about 0.24kWh electricity per day. Miners can learn more or be a part of beta launch via Tminer’s website at https://tetherminer.com/
Location: Victoria, Hong KongWebsite: https://tetherminer.com/