GoMining Review: Discovering Unique Mining Strategies

GoMining introduces a new solution to the challenges of post-halving bitcoin mining, offering a user-friendly approach that makes mining more accessible and profitable for everyone.

The bitcoin halving was the focal point of the first half of the year and many predicted monumental changes following the event. Analysts, experts, and crypto gurus predicted ups and downs not only for bitcoin (btc), but for all major and minor coins in the market. However, for those new to the field, the entire event must have been nothing short of confusing.

For the uninitiated, here's a simple breakdown: When miners validate blocks of transactions, they receive block rewards in the form of btc. bitcoin-mining-market-paradigm-may-shift-towards-further-consolidation/” rel=”nofollow” target=”_blank”>bitcoin price halving is the process of reducing the block reward by 50%. Therefore, the halving process reduces the supply of btc entering the market and helps increase its value. This particular event takes place every four years.

However, the halving brings with it its own set of problems. With the halving, the mining difficulty increases significantly, which is not ideal for miners. They would now need increasingly powerful and energy-efficient solutions to compete in the mining space. And this is not without consequences. Since the profit from mining is calculated on the margin between the mining reward and the running costs of the equipment, profitability decreases after the halving because the rewards are cut. This is detrimental to smaller players in the game, who are pushed out by the large mining companies that can afford this increase.

The solution in this case could be the implementation of better mining strategies. An interesting and well-known alternative in the bitcoin mining sector is GoMining which presents a new, unique and innovative concept to combat some of the concerns mentioned above. Let us explore this new concept and look at the GoMining project in this article.

Overview

Company: GoMining

Token Symbol: GOMINING

Blockchain: ethereum, Binance Smart Chain, The Open Network (TON)

Sector: bitcoin Mining Platform

Business model: Digital mining through nft

GoMining

GoMining is a bitcoin mining company with nine data centers around the world and over seven years of experience in the industry. With a current power capacity of 350 MW, a market cap of $137,049,370, and over 99% mining equipment uptime, GoMining has become a trusted name in the mining space. On their website, the team makes it clear that their mission is to make bitcoin mining a reality. bitcoin nft Mining Accessible to all.

With GoMining, users interested in mining no longer need to purchase and install dedicated mining hardware on their own or manage equipment maintenance. Instead, they can handle everything online.

However, those who are curious about What is GoMining?you could learn more about their “digital miners.” A digital miner is a unique non-fungible token backed by a real-world share of bitcoin mining power. In other words, it is a digital record on the blockchain that grants users the right to own a certain amount of terahashes within the digital space. It is kept in a user’s crypto wallet like a cryptocurrency. GoMining’s digital miner uses a technique they have coined as “bitcoin-hashrate-protocol-3404a9c82ec7″ rel=”nofollow” target=”_blank”>Liquid bitcoin Hash Rate Protocol“.

What is Liquid Hashrate Protocol and how does it work?

The Liquid bitcoin Hashrate (LBH) protocol is a method that allows users to purchase and hold digital tokens that represent bitcoin mining power. These tokens work just like nfts, except that these particular nfts represent bitcoin mining power. More precisely, LBH represents a claim to the underlying hash rate of bitcoin mining.

What are the benefits of this protocol? With LBH, users can engage in bitcoin mining without the hassle and risks of owning and managing physical mining hardware. Additionally, LHB tokens can be used as collateral for loans and other DeFi operations on the ethereum and BNB chains. However, users should note that these tokens are not directly converted into bitcoin, as in direct mining.

Another interesting feature of these nfts is that they have been designed in such a way that they can be upgraded, both in terms of computational power and energy efficiency. In addition, nft holders earn daily rewards for bitcoin mining, which users can send to any wallet chosen by the holder.

Purchasing process and payment methods

Users can purchase digital miners on GoMining single marketThis guarantees authenticity and they will automatically appear in the user's personal account. Another option available is to purchase a GoMining nft on external platforms such as Getgems or OpenSea. The GoMining ecosystem supports both traditional and cryptocurrency payment methods. In the crypto space, Binance Pay and Coinbase Pay are popular choices for users. Additionally, GoMining has its own secure payment gateway, GoMining Pay, which accepts btc, USDT or eth.

For users who wish to go the traditional route, GoMining accepts credit cards, bank transfers, mobile payment options such as Apple Pay and Google Pay, and other local country-specific payment solutions.

nft Collections

Each of GoMining’s nft collections is designed to meet different investor preferences, from lower-cost entry points to high-capacity, energy-efficient mining options. nfts are backed by real computing power and allow holders to earn daily btc rewards directly to their wallets.

The Greedy Machines Collection, Khabib Collection, East nft Collection, North nft Collection, South nft Collection, Golden Box Collection, and Party Box Collection are some of the existing collections, although the largest is the Mine Box Collection.

Profit Strategies

Solo Mining: This type of mining strategy allows access to the safest and most predictable practices that do not require any real participation in the process. These digital miners mine btc on a daily basis without any effort on the part of the user.

Pool Mining: With the pool mining option, users can join a group of other users and mine btc as a team. Proper strategies and participation can help users earn even more with collective hashing power. However, this method involves more risks than solo mining and the rewards here are not guaranteed.

Participation and voting: VeGoMining (voter trust) The token model is the governance mechanism that the platform uses. Here's how it works: To initiate a lock position, the holder must select the amount of tokens GOMINING tokens The user must approve the transfer and locking of tokens in the veGOMINING smart contract. After that, the user will receive votes from veGOMINING in proportion to the volume of locked tokens and the locking time. veGOMINING grants governance rights so that token holders can influence the distribution of additional rewards and how the rewards will be distributed.

GoMining Token and Tokenomics

According to the whitepaper, the main goal and function of the GoMining ecosystem is to provide simple and intuitive access to mining for participants with different levels of knowledge, from beginners to professionals.

The GOMINING token, the GoMining protocol, veGOMINING votes and the liquid bitcoin hashrate are the main elements within the GoMining ecosystem.

The GoMining token is traded on cryptocurrency exchanges under the symbol GOMINING. The price of a GoMining token is determined solely by supply and demand. The token is currently available on several exchanges including Gate.io, Bitfinex, Bitget, MEXC, Uniswap and has recently been listed on HTX.

Continuous growth in demand is one of the main features of the GoMining token. It provides a 10% discount on electricity costs to hashrate power owners. Therefore, the higher the bitcoin hashrate owned by users, the higher the demand for the token.

Additionally, GoMining permanently burns a certain percentage (17% on July 24) of the tokens it receives from electricity payments, reducing the total supply. With a target supply set at 100,000,000 tokens, over 15,000,000 of the initial supply of 436,15240 have already been permanently burned.

GoMining Reviews and Public Opinion

GoMining has gone above and beyond when it comes to trust and transparency. On the website, users can find information about the mining facilities that is continuously updated. They even display live camera footage of their facilities. Despite earlier rumors of a GoMining ScamThe team has successfully proven its trustworthiness to the crypto community.

In addition to this, the platform collaborates with projects such as The Open Network (TON) and Trust Wallet, among others. Venture capital fund bitcoin-mining-protocol/” rel=”nofollow” target=”_blank”>Bit scale It recently invested $3,000,000 in GoMining, highlighting the project's long-term prospects and sustainable growth.

Currently, 27% of the total GOMINING supply is locked for an average period of over two years, resulting in an APR of up to ~22%. This demonstrates strong community support and long-term commitment to the project.

If none of this helps, users can check out the GoMining app reviews left by users on trusted pilot and mobile app stores. On TrustPilot, GoMining has an average rating of 4.0, with several positive customer reviews.

Verdict

In general, GoMining brings us a unique idea that is both convenient and easy to use. Its Liquid Hashrate protocol is a commendable effort to make mining more accessible to the public and remove the hurdles of traditional mining. Our verdict: 4.5 out of 5.

Interested users who find GoMining attractive can check out the project website for more information: https://gmt.io/about/