What is New Coin Mining (New Coin Mining Project)

What is New Currency Mining Editor’s note: This article is from BlockBeats (ID: blockbeats), reprinted with authorization by Daily Planet Daily What is New Currency Mining? What is New Currency Mining? According to DuneAnalytics data, the total number of new coins with a value of about US $100 million locked on Ethereum is 500 million; The new token, also known as “StackingPool,” is a special mechanism to reward users who obtain tokens through pledge or liquidity provision, as well as the assets they contribute (such as USDT, BTC). These new projects are usually issued at specific points in time, such as depositing ETHs on exchanges and destroying them before December 2019 So what is new currency mining? Simply put, when you invest a large amount of money in the DeFi protocol on the Ethereum chain, your new currency will be dug up. Therefore, ‘new currency’ can be used to create and operate various decentralized financial services. For example, DeBank’s “New Token Mining Platform”. Users can purchase newly launched tokens from smart contracts, and then convert them into Stablecoin, or transaction pairs like Uniswap. In addition, newly generated profits can also be used as mining income, such as ETH/DAI, ETH/LINK, WBTC/USDC, ETH/WBTC, WBTC/UNI, etc. These applications are based on the development of Ethereum ecosystem The generation of new tokens requires a significant amount of capital to sustain this development process. New coin mining “refers to a method of improving network efficiency by increasing network bandwidth. As the computing power of Ethereum network continues to rise, the new token can attract more miners to join, because they can earn higher prices in different time periods – if the current price fluctuations of Ethereum are not taken into account, they cannot continue mining. Therefore, it also provides a more efficient way to promote the development of Ethereum network: “mining” refers to a process called “The Consensus”, in which people involved in mining will get a certain amount of network bandwidth and resources. The ‘validation process’ refers to anyone being able to become a’ validator node ‘, and this node is responsible for verifying whether the new token will be used as a validation program However, it is difficult to achieve this, as the ‘Proof of Work’ is not the true ‘Prover’. On the contrary, it is a means to ensure the integrity and reliability of the verifier, enabling them to complete tasks as required and work in a safe environment To address this issue, the main purpose of new coin mining is to incentivize miners to actively utilize their computing power to safeguard their economic rights in the new coin – that is, as long as anyone is willing to accept new blockchain applications, they can unleash their potential

New coin digging projects

According to CoinMarketCap data, there were a total of 26 new coin digging projects as of the time of publication. According to monitoring, BTC has increased by 14.8% in the past 24 hours and is currently quoted at $9148; ETH fell 11.4% in the past 24 hours to $180.05; EOS rose by over 9% in the past 24 hours to $2.89; BSV fell more than 12% in the past 24 hours to close at 13Libra; TRX fell more than 5% in the past 24 hours to $0.197 It is reported that recently launched mining projects include NULS, NMR, BTM, etc.