Cryptocurrency mining has a historical significance within the crypto industry, dating back to Bitcoin's Genesis Block, marking the inception of the first-ever blockchain. Mining was a foundational concept involving users contributing their computational power to validate transactions on a blockchain network. Over time, the intricacies and expenses of mining grew, prompting a need for evolution.
Eminer (EM) emerges as a solution to these challenges, offering an innovative system that slashes costs, minimizes power consumption, and optimizes resource utilization. Projects like Eminer are at the forefront of redefining and revitalizing the global mining ecosystem in the face of advancing blockchain technology.
What is EM?
Eminer is a blockchain-powered platform with a comprehensive vision for the crypto-mining sector. This visionary platform aims to offer various innovative services spanning financial, hash rate, circulation, and information services. Its primary mission is to address pressing challenges within the mining industry, such as substantial capital costs and high energy requirements. The platform also aims at resolving the issue of currency switching in mining. By doing so, Eminer envisions enhancing asset liquidity, cost efficiency, and the overall financial landscape of the mining sector.
The EM team
Eminer was launched in 2019, and its Mainnet became operational in September 2020. Anchoring the platform's success is its dedicated core team. Spearheading this team is CEO Artem Borovkov, boasting a decade of experience in the tech realm and is the founder of SODIUM Protocol. Key figures such as COO Edward Zhang, Operations Director James L, and Mining Farm Head Leo LV join him, all contributing their expertise to drive Eminer's innovative journey forward.
How does EM work?
Eminer has set its sights on revolutionizing the global mining landscape. At its core, the platform endeavors to reshape and harmonize the mining ecosystem on a global scale. This transformation is driven by transforming the hash rate, the computational power pivotal for verifying transactions, into a streamlined digital pass. Eminer boasts an extensive hash rate from many mining machines, enabling it to offer versatile and user-friendly mining services.
Notably, Eminer supports third-party minefields, a distinctive feature facilitating hash rate services through EM node competitions. Users can use their EM tokens for hash rate services or pledge them to become Eminer nodes. By embracing the latter route, users gain rewards through Bitcoin and EM tokens, solidifying the platform's commitment to fostering an engaged and incentivized mining community.
EM tokenomics
EM is the native cryptocurrency of the Eminer platform. This token assumes a pivotal role by tokenizing miners and their hash rates, imparting them with inherent value liquidity. This liquidity and the token's intrinsic value serve as the life force propelling the entire Eminer ecosystem forward. EM's journey began on July 30th, 2019, with a total token supply of 2.1 billion. However, as of July 2023, approximately 1.45 billion EM tokens are actively circulated, accounting for roughly 69.26 percent of the total supply.
EM token use cases
The EM token boasts a versatile range of applications within the Eminer ecosystem. Notably, its primary function involves the collection of transaction fees, underpinning the seamless flow of activities within the platform. Furthermore, EM tokens can be staked on the project's platform, fostering active user participation and engagement. Beyond these functionalities, EM tokens also stand as a tradable asset.
EM token distribution
Eminer strategically allocated its native token EM as follows:
- 28.5 percent went to the hash rate funds.
- 24 percent was set aside for ecosystem development.
- 18 percent was allocated to the mining foundation.
- 16.8 percent was granted to early participants.
- 9.5 percent was used for team incentives.
- 3.2 percent went to the token exchange.
