BEST: An Exchange-Traded and Multi-cryptomining Hashrate Protocol
A Protocol Token Collateralized by Bitcoin Hashrate, Ethereum, Hashrate, etc.
Why is cryptomining proved to be a profitable but risky venture with low liquidity?
Miners must choose either holding onto mining equipment for years or relying on brokers for sales on an infrequent basis. The upshot of this dearth of liquidity is that miners have a restricted number of options to hedge against or profit from the price fluctuation of mining machines; the new miners are dissuaded from serious participation; the traders often show interests in gaining exposure to mining market for it can be viewed as long options, whereas high costs on equipment and energy will cause them to hesitate.
What is BEST?
BEST Exchange-traded and Multi-cryptomining Hashrate Protocol Token (“BEST”) is a valuable exchange-traded mining product created for individual miners or investors, which represents a basket of multi-cryptomining power that is standardized and tokenized. BEST offer dual benefits: pooled investments in a basket of cryptomining power like that of an exchange-traded fund (“ETF”) and real-time trading with tick-by-tick price changes as a listed token, bringing exchange-grade liquidity to mining market.
In phase one, Each BEST token represents 0.2 TH/s Bitcoin hashrate and 0.5 MH/s Ethereum hashrate upon launch. BEST will be operated like an ETF and the project team plans to involve a basket of cryptomining power with more mainstream cryptos’ mining power on the basis of Bitcoin and Etherum.
Creating an efficient market for every market participant
By contributing mining power to the project, miners will obtain BEST tokens accordingly in return.
By trading BEST, market participants can freely enter or exit cryptomining in any size, at any time, and with low costs.
By staking BEST, holders will receive daily mining reward distributions that correspond to the mining power staked.
Frequently Asked Questions (FAQs)
What is cryptomining?
Mining is the process of creating a new block of transactions to be added to the blockchain by solving computationally difficult math puzzles. Bitcoin and Ethereum blockchain currently both use the proof-of-work (PoW) consensus mechanism.
Mining is the lifeblood of proof-of-work.
Miners, the computers running software, consume their time and computing power (aka “mining power”; hashrate is a measure of the computing/mining power) to process transactions, produce blocks and get block rewards, to make the blockchain payment network trustworthy and serve as a way to secure the network from attacks.
In most cases, the average computers wouldn’t be able to earn enough block rewards to cover the associated costs of mining. So the miners must purchase a batch of dedicated computer hardware in order to mine profitably within a vast and long-circle investment.
Check more FAQs
Learn more about BEST, connect with the BEST team, purchase BEST token, stake-to-mine or inquire about the tokenization of your mining hashrate. Contact BEST: