Giga Watt (WTT) Token ICO. The First ever Hardware Backed ICO token Launched. Makes Mining Profitable.

Mining is the backbone of any cryptocurrency. Without mining, no cryptocurrency can exist. This makes the cryptocurrency transaction possible.

As cryptocurrency mining gets more and more cost intensive, Giga Watt project has come up with an innovative solution, WTT tokens, which democratizes the mining process by making it more affordable.

The Gigawatt went Crowdfunding on 2nd June. The token is up for crowdfund for more 39 days(from the time of making this post)
The cap is set at 30 million WTT, offered at a price range of $1-$1.2 during the ICO.

Each WTT token gives the owner access to 1 watt of the mining facility’s capacity for a duration of 50 years. The number of WTT tokens a miner would need to purchase is determined by the wattage of their particular mining equipment. Token holders can either choose to use the allocated power themselves to run their own equipment or rent it out to other miners and earn from it. In other words, WTT tokens represent space on the shelves to allocate mining equipment at the company’s facility. Also, WTT owners are charged a hosting fee at less than half the standard rates, which makes running own mining equipment more attractive.

The platform has already sold over 9 million tokens in 15 days of the ICO, putting the capacity of the facility at around 10 MW. With this Token Launch, Giga Watt has gained the distinction of organizing the first ever hardware-backed ICO. And, given the increasing interest in cryptocurrency mining among the community and the people behind this project, Giga Watt token sale presents itself as an attractive opportunity for those who want to be part of this revolutionary concept.

Token Launch Platform

Token Launch is conducted through a groundbreaking Cryptonomos platform.
All payments for WTT tokens will be collected by Cryptonomos. Upon the completion of the
Token Launch, on August 7, 2017, Cryptonomos will issue and distribute its initial batch of
WTT tokens, with subsequent batch issues to follow upon the completion of new capacity
construction. If a cap of 30,000,000 WTT tokens sold is reached before the scheduled end of
the Token Launch, Cryptonomos at its own discretion may issue WTT tokens ahead of the
specified date to provide access to the facilities built by that time.

WTT Smart Contract

WTT is an Ethereum token. It complies with and extends ERC-20 - a de-facto standard and
widely used token API. WTT Smart Contract guarantees:

1. Transparency
   1.1. Balance. The information on the number of tokens held by any user is public.
   1.2. Transfers. All information on transfers is public and can be traced back in time.

2. Ownership
   2.1 Scope. Only Ethereum users and contracts can be token holders.
   2.2. Uniqueness. Each token belongs to one user-owner. There are no shared tokens.
   2.3. Right to transfer. A token can be transferred to another user only by the direct
   command of its owner or by the command of the receiver directly authorized by the
   owner. No token transfer may be initiated by another user.

3. Token Supply
   3.1. Exclusive issue. Only one user, the contract owner, can issue tokens.

4. Contract Management

4.1 Replacement. The contract owner can relinquish the ownership in favor of any
other Ethereum user or contract.
4.2 Blockade. The contract owner can stop or resume token transfers between token
holders at any time.

1. Miscellaneous
   5.1 Recovery. Any call to the contract which results in an error does not change the
   users' tokens or Ether balance, except for the gas spent on the transaction.
   5.2 Limits. Maximum allowed tokens in circulation and may be set and are limited to.
   Smart contract does not guarantee the following ("Uncertainty Provisions"):

1. User validity.
An account with positive token balance may or may not be a real Ethereum
user or contract and therefore may not have a private key. Tokens transferred to such users
will likely be lost.

2. Ether supply.
The contract prohibits most, but not all means by which Ether could be sent
to it by users who are not contract owners.
We engage independent auditors prominent in the industry, who review the smart contract
code line by line, checking for any security, incentivization or other concerns regarding the
attack surface.

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