These days, cryptocurrency miners are faced with several problems. For one, there is a lack of transparency; this stems from the fact that miners cannot track the rewards they earn from blocks to their crypto wallets and as a result, there is room for duplicity. Furthermore, miners are never sure which cryptocurrency to mine because how profitable a crypto is depends majorly on the hardware that is being used. Additionally, miners cannot track the state and metrics of their hardware; as a result, they cannot tell when they are exceeding the device’s limit — this does not help the durability and lifespan of the hardware (which is quite expensive to start with).
The Whalesburg project plans to solve the problems mentioned above on their cryptocurrency mining platform. According to reports, the platform will serve 3 primary purposes. Firstly, it will simplify the entire mining operation for its users. Secondly, measures will be put in place to increase the yields of miners on the platform. Thirdly, there will be an array of time-saving mining tools available on the platform.
To accomplish all these, Whalesburg intends to introduce the following products. One, a multi-currency mining pool where users can mine a large number of coins. Two, an operating system with an overview of all available tools. Three, the Whalesburg Cloud — the brain of the entire platform: where all statistical data will be processed using real-time monitoring and/or various statistical reports. Four, a profit-switching algorithm that will supposedly calculate the optimal hashrate needed to mine ar currency without increasing difficulty. Five, a hardware monitoring and management protocol that will provide users with information that will facilitate the efficient usage of hardware.
Whalesburg’s tokens, WBT, are Ethereum-based and they will reportedly be used for the following on the platform: One, to discount mining fees; 0.45 to 3% of currency mined is supposed to go into the mining pool, but the more WBT a miner holds, the less mining fee he pays. Two, the Whalesburg platform is expected to have a decentralized governance system, and only WBT holders are allowed to vote; the more tokens you have, the weightier your vote. Three, to verify the addresses of users on the platform. In a bid to protect the platform and its users, Whalesburg uses the WBT tokens in every wallet to verify the correct wallet address of all users. Once the address and the amount of WBT in it is verified, users are shared into Tiers (from 1 to 5). The higher a users’ tier, the more the benefits available to him.
Whalesburg team has released an MVP for their smart mining pool and interested parties can test it out here.
Hard Cap and Valuation
There will be a total of 100 billion WBT tokens and the project aims to raise 3,800 ETH for 66% of the token total. The remaining 34% is to be distributed thus: 20.5% will be used for business development, 10% is earmarked for the founding team, and the final 3.5% will be used for bounty campaigns. Founder tokens will be released over 12 months, with the first installment disbursed exactly a year after Whalesburg’s token sale.
Unsold tokens will reportedly be destroyed.
Price Per Token
1 WBT = 0.0000718 ETH, with minimum purchase pegged at 0.5 ETH. Investors during the presale will reportedly receive a 20% bonus.
WBT presale is going on currently, with the public sale is expected to hold in April.
As at the time this post was published, Whalesburg had over 13,200 members on Telegram, 5,200+ followers on Twitter, 4,200+ followers on Medium, over 3,500 Reddit readers, 2,100+ followers on Facebook, and over 40 followers on Linkedin.
Team Members’ Areas of Expertise
John Kitkin, Co-Founder & CEO.
- CEO of Talent-Guild, a recruitment company, for 7 months.
- Founder of KITKiN, an IT consultancy, for 9 months
- COO of Booking Analytics, a hotel service company, for a year.
- IT Project Manager at Diebuendner AG for almost 4 years.
- Freelance Web Developer for almost 3 years.
Vladimir Protasevich, Co-Founder & CTO.
- Founder of Mechanizm, a software development company, for almost 3 years.
Self-employed Senior JS/Ruby Developer for over a year.
- Middle Ruby on Rails developer at RacoonsGroup for almost 2 years.
Nurlan Abdrassilov, COO.
- Solution architect at Home Credit International for almost 2 years.
- Big Data Instructor at MHM computer, an IT services company, for 6 months.
- Training and Documentation Expert at ZOOM International, a software company, for over a year.
Target market experts
No team member with target market expertise but many of the project’s advisors are mining experts.
No team member with marketing expertise but at least one of their advisors has extensive marketing experience.
Andrei Moskvitch, Lawyer.
- Co-founder of A2ICO, legal services for blockchain projects, for 11 months (ongoing).
- Managing Partner at Moskvitch law offices for almost 3 years (ongoing).
- Director, Patent Operations at Yandex, a technology company, for almost 5 years.
- Associate at Osler, Hoskin & Harcourt LLP for 2 years.
Software engineering experts
Dana De Alasei, Data Scientist.
- Senior Data Scientist at ViralGains for over a year.
- Analyst at Arcadian Asset Management for over 5 years.
Igor Netkachev, Red Hat Certified Engineer.
- Technicial Support Engineer at Red Hat EMEA for almost 3 years (ongoing).
- Linux System Administrator at NK Support for over 3 years.
- Junior System Administrator at Extmedia Ltd. for over 4 years.
Igor Barynkin, Back-end developer.
Rostislav Katin, Full-stack developer.
Ivan Korjavin, Mining pool developer.
- Lead System Administrator at Svyaz-Service.
Roman Faizullin, Frontend Developer.
- Full Stack Developer at Mechanizm for over 2 years.
Blockchain development experts
No team member with blockchain development expertise.
Token sale structure experts
No team member with ICO launch experience, however, some of their advisors have the required expertise.
Token economics experts
Same as above.
- Extremely low hard cap — 3,800 ETH.
- Sizable amount of community members.
Potential risks for investors
- The team lacks expertise in some areas.
- Some members of the development team seem to be working only on a part-time basis.
- Part of the social media hype/followership was created by bounty campaigns.
- Nothing written in this article is a legal or an investment advice.
- Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.
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