All you need to know about ONE’s mining program

A couple of users asked me about the ONE mining, is it similar to Bitcoin mining so that it consumers smartphone computing power? How many ONE/ONELUCK can you mine per day? This short article is intended to answer these questions.

First of all, ONE mining is a referral game seeking to promote the ONE Dapp, except the internet connection, it doesn’t require any sophisticated hardware, like ASIC for Bitcoin , neither hash power to work properly. In other words, regardless of the performance of your smartphone, as long as it meets the minimum requirements for the Dapp (version 9.1 for iOS, version 4.1 for Android device), you can start mining.

Secondly, the quantity of ONE or ONELUCK you can collect depends only on two variables, dapp open rate and the so-called “computing power”. Please find below the Reward Rules that I quoted from the ONE Dapp(with minor changes to facilitate the understanding):

“1. Each friend you invite to complete the registration and the basic task, your power will be increased by 10, and 2 ONE tokens and 200 ONELUCK as reward.

2. If your friend sends an invitation to his friend, and he has completed the basic task, the latter will become your “second level” friend, therefore, you will get 5 mining power and receive another 1 ONE token and 100 ONELUCK as rewards.

3. In addition, Once you complete two basic tasks: mobile authentication and identity authentication, you will get 40 powers, if you open your Dapp at least one time per day, your power will be increased by 1 every day.”

Here is an example of how this referral program works, this users has 18 friends and 9 second level friends, so that he has acquired 225 power, 45 ONE tokens and 4500 ONELUCK.

Thirdly, the system will release a random amount of tokens (ONE and ONELUCK) every 40 minutes, the quantity of tokens released everyday is a fixed number but the value indicated on the token varies, basically more power you have, higher value you will get. We have doubled the mining difficulty several times since the ONE Dapp’s creation, currently every 400 power can mine one ONE token and 1000 ONELUCK per day. The ONE tokens and ONELUCK allocated in the mining poor are at a 1:1000 ratio, however they are totally stochastic with a standard deviation of 0.2, which means that you may mine 0.8–1.2 ONE token and 1000 ONELUCK per day, but in long term, the ONE/ONELUCK ratio tends to close to 1:1000.

The mined tokens are temporally stored in our Red Packet account, we plan to link the Red Packet account with the trade account before we get listed in Exchanges, our engineer is working overtime to integrate facial recognition in the Red Packet account.

Given that there is a decentralized Exchange in our app and we are trying to list more external tokens in our Trade platform, we also plan to include some tokens in our mining pool.

Do you find this interesting? Go invite more friends and improve your power!

Dapp download link: http://app.onechain.one/appstart_en.html