LFi decentralized platform has launched its new Cloud Minting Program, which aims to provide people with an innovative way of generating earnings, rewards, and benefits in the crypto space.
Minting only used to refer to the process of stamping metal to make a coin. The definition is still the same in the crypto world. But since everything is digital in that space, the coins or tokens that are minted are digital as well.
Minted tokens are taken out from the total supply and added to the circulating supply.
What are the benefits of minting? Why are people interested in minting LFi tokens? Let’s discover it in this blog post!
How Does Minting Work?
Minting in the crypto space is much more complex than stamping metal. Coins or tokens are created when users authenticate data and add new blocks of information onto the blockchain. A noteworthy point is that newly created virtual assets are made available for trading in the market. The Proof of Stake consensus mechanism is a key feature of the token creation process, as it involves the formation of blocks through staking.
The participants who take part in the creation of crypto tokens are known as validators. An essential aspect of the crypto minting process is its decentralized nature, which means that individuals interested in creating tokens do not rely on a central authority or intermediary to validate transactions and create new tokens. Instead, transactions are validated by a distributed network of participants who collectively maintain the integrity of the blockchain network.
Next-level Minting with LFi
High-powered hardware with large disk space and computing power is essential to accomplish this task. The LFi Cloud Minting will remove the necessity of have an actual hardware at your house. Here, everything takes place in the cloud, with the help of cutting-edge minting hardware that is placed in a remote location. All you need to do is select a program available on the website of LFi partners and choose the cloud minting program you prefer.
What is new about this new version of the Cloud Mining?
The rental agreement license is registered using NFT – non-fungible token. One NFT is generated for each license and this license allows an optimization of the service through the hard rate of the NFT itself and of the platform. The new Cloud Minting has more variables and can be associated with the hardware minting units that you purchase and manage from your home.
You as a customer can see the hardware’s location, IP, number and working status.
How to start to mint LFi token? Discover here: https://white-paper.lfi.io/lfi-minting/how-to-start-minting
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