Innovative Mining Protocol Concludes a $2 Million Fundraise Led by Exnetwork Capital and Oracles Investment Group
Leading Venture funds including Exnetwork Capital, CSP DAO, STC Capital, Oracles Investment Group, MoonBoots, Leos Ventures, Global Key Investment, and Aza Groups, have successfully led a funding round for MINE Network. A group of strategic partners including Skyrim Finance, Kylin Network, Charged Particles, and FOMO Chronicles also supported the round, to help MINE Network raise $2 million.
Reportedly, it was an oversubscribed private sale with unimaginable responses from some of the industry’s most influential and trusted names. The project has attracted a slew of high-net-worth individuals who are trusting the project’s vision to be a premier solution provider in the crypto mining industry.
With the successful funding and IDO launch, MINE Network is ready to kickstart the journey of creating its eco-conscious, multi-chain mining protocol until it attains its fullest potential. MINE Network is enthusiastic about revolutionizing the very core of the crypto sphere and with immense support from the blockchain community.
Standardizing Mining PowerAs the first decentralized standard hashrate token protocol solving mining problems, MINE Network is geared towards standardizing mining power. MINE will set up the mining power standard for a list of mining projects so that the mining power. This applies to mining powers from MINE and other mining pools, so they can be easily tokenized and clearly identified.
Growing cloud mining pools have curbed and lowered certain barriers impeding entries in crypto mining. However, there are a good number of cloud mining pools with no proper standard which can inhibit the rapid growth of the sector. MINE Network’s goal to standardize mining power is targeted at offering scaling potential to the industry.
MINE Network’s protocol is out to develop the right standards for numerous mining powers and also the minimum standardized hashrate unit. With this, the MINE Network mining pool will be an open and accessible tokenized market. As MINE aims at this problem of low standards, it is positioned to bring the mining ecosystem to a completely new level of accepted standards including energy consumption ratio, types of specific mining equipment as well as their numbers.
Building A Decentralized Community With Complete AutonomyMINE Network as a project seeks to build a decentralized community with complete autonomy. This is a major factor in dealing with credibility issues facing the mining industry. MINE aims to act as a fully transparent decentralized autonomous organization. For every growing mining project, the MINE Network DAO will be adjusted to suit all stages for the community to be developed without hindrances. As the project matures, the MINE Network DAO increases. The primary objective is to grow into a decentralized protocol with full community autonomy.
As it works towards becoming a DAO, MINE Network is encouraging the willingness of the community to participate in governance by lowering participation thresholds and increasing incentives.
MINE Network is building a community with no hierarchical management or central governance. It will have a plethora of beneficial purposes. Miners on the platform will enjoy a self-sustaining economy with a better distribution of mining power for an even more equitable space.
Text source: NewsBTC
