Hashrate tokens are a brand new trend in the crypto space
Mining cryptocurrencies is a lucrative business, but not everyone can afford the extremely expensive mining. Poolin, one of the largest mining pools in the world, wants to change that and has launched the Mars Project for this purpose.
Mining cryptocurrencies has grown from something that could be easily done with a conventional PC to a huge industry. For this reason, it is now very expensive if you want to mine profitably.
What Is the Mars Project?
Mars Project is the only Ethereum based agreement to date that tokenizes hashpower and makes it tradable as so-called hashrate tokens.
Hashrate tokens are ERC-20 that are secured by hash power. Holders of hashrate tokens thus receive part of the underlying hash of the mining pools. By using staking the token, holders can right away start mining cryptocurrencies after buying a hashrate token. In addition, the mining rewards they earn can be paid out in time. The Mars Project enables owners of hashrate tokens to benefit from mining without having to buy expensive hardware.
What Role Does The MARS Token Play?
In addition to the hashrate tokens, the Mars Project owns the governance token. This is distributed as an additional reward for providing liquidity on exchanges. In addition, the MARS token can also be staked, which allows the holder to earn an additional return. Because all income from the hashrate tokens not pegged in the system flows back to the holders.
In addition, MARS owners have the right to participate in governance decisions. This means that they have the opportunity to make suggestions that are important for the further development and the community. They make it possible for the first time to benefit from the mining of various cryptocurrencies even with little start-up.
The contents of this article are for informational purposes only and are not investment advice.