🏈BMM20 & XBTC mining process
What is the process and meaning of PoS Mining?
Acquiring BMM20 NFTs:
BMM20.xyz: Mint unique BMM20 NFTs, your "Bitcoin Mining Machines 2.0," representing your stake in the XBTC mining process.
Ranks and Hash Rates: Different BMM20 ranks have varying hash rates, influencing your mining power.
Staking and Joining a Pool:
Automatic Staking: No manual action is needed! Your BMM20s automatically join a mining pool to contribute their hash rate.
Flexibility: Switch pools at any time to optimize your mining strategy.
Mining Process:
Mirroring Bitcoin: XBTC mining resembles Bitcoin's, with a halving mechanism and accelerated block rewards (every 15-20 seconds).
Controlled Supply: Block rewards halve every 30 days (aligning with Bitcoin's halving every 4 years), ensuring scarcity.
Mining Duration: 98% of XBTC will be mined within two years.
Mining Algorithm:
Proof of Stake (PoS): XBTC utilizes Ethereum-based PoS algorithms for efficient and secure mining.
Smart Contracts: Advanced smart contracts manage the mining process and reward distribution.
Mining Start:
21,000 Th/s Threshold: Mining commences once the pool reaches 21,000 Th/s, ensuring network security and a fair start.
Reward Distribution:
Hashrate-based: Your XBTC rewards are directly proportional to the combined hash rate of your staked BMM20s.
Fair Distribution: The system ensures equitable reward distribution based on your contribution to the pool.
Claiming Rewards:
Anytime Access: You and the pool can claim earned XBTC tokens at any time.
Transfer and Sale:
Flexible Marketplace: Sell your BMM20 and XBTC tokens on various platforms. The protocol automatically adjusts hash rates after transactions.
Automatic Updates: Upon selling a BMM20, your mining rewards and pool share are automatically updated, and the new owner receives future rewards.
Unstake and Stake:
Strategic Control: Unstake your BMM20s or stake them in different pools to adapt your mining strategy.
Automatic Adjustments: Your rewards and pool share adjust automatically based on your staking choices.
By understanding these key aspects, you can confidently participate in the BMM20 mining process and reap the rewards of owning Bitcoin Mining Machine 2.0 NFTs.
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