New Mining Method by Module- Japanese Blockchain
I was easily impressed when I read Module's whitepaper ( link here : https://modltoken.io/doc/whitepaper_en.pdf ) as I can clearly visualize the holes and gaps that they are trying to fill in - in today's crypto currency mining industry. I kind of agree with them when they said that mining has becoming centralized these days , in the sense that it is being largely monopolized by a few people who are rich ( namely those who can afford mining rigs and those who are holding majority of the tokens- be it a PoW or PoS.
They are right. I have planned on putting up my own rigs before but got disheartened when I learned how much I need to shell out just to put them up, plus the most heartbreaking of all- the cost of electricity to run it.It's very hot here in the Philippines so apart from the rigs, I need to buy Air Conditioners too.. So it did not push through as I did not have that amount of money to begin with.
I was doing some Airdrops on my Free Time and I happened to get a token that is Proof-of-Stake. I did not know what Proof-of-Stake was back then... Then I learned that it's basically that you have to hold a certain amount of token in your wallet , which you have to keep "open" all the time. You get to earn a certain percentage from that. In that token's case they are offering 10 percent per year which I realized was that not much since I only had 5000 pieces. Again, being rich is an advantage when it comes to PoS as the one who have more buying power gets to buy more and hold more.
This is the mining problem that MODULE is trying to solve. Module Developers has come up with a new technology and algorithm so that mining can be done via smartphones from anywhere in the world making it available to most people be it rich or poor- no matter what the size of the storage is. They have come up with a solution to make use of the unused storage of mobile devices being used today. Apart from that, people will be able to create new tokens on top of the module blockchain and ofcourse cloud storage too.
I am really excited for Module to roll out as this is one of a few company which has actual use in real life.
Watch here how Module will change how Cloud Storage roll.
To simply put it, you get to earn MODL token just by simple renting out your unused mobile device storage.
This Technology that Module have developed is called PoSTT or Proof of Stake, Time and Transaction. This was developed so that mining can be accessed and participated and enjoyed by a lot of people all over the world using gadgets like smartphone, tablet or laptop. This is the real decentralization.
In turn Clients can actually make their own token over the Module blockchain. The tokens can be used for storing and transmitting data, and miners will mine the tokens being used for data storage or data services.
Watch out for this. App will be released in Appstore and Playstore approximately at January of 2019.
Module is temporarily an ERC20 token only during ICO phase.
Here are some information about the Module Token:
Ticker Symbol: MODL
Token During ICO: Erc20
Type: Utility Token
Total Emission: 15,000,000,000 MODL
Price per 1 token: $.008usd
ICO just started and will last until September 2018. Module planned have the token on an exchange by September.
So much is in the RoadMap for the next few months. These Devs are surely gonna be busy all throughout.
Please head over to their website to lean more about this wonderful project : https://modltoken.io
Article by : Mommynigabby
BCT Profile: https://bitcointalk.org/index.php?action=profile;u=756932