The decrease of Bitcoin price completely discredited PoS mining
In 2018, experts predicted that as soon as the cost of cryptocurrency falls below $4,000, the break-even threshold will be passed and BTC mining will be unprofitable.
It seems that a prolonged decrease of cryptocurrency prices in the fall and winter have led to a justification for fear. Mining giant Bitmain stops mining Bitcoin in Texas. All staff at the prospective mining center in Rockdale were fired. Cryptocurrency mining operations are suspended.
The company plans to reduce capacity but does not stop mining completely. Two engineers will continue to work at the facility in order to maintain equipment operability and ensure a quick start.
It should be noted that there are a lot of negative rumors about Bitmain. According to the mass media, both the mining giant and the Huobi exchange confirmed their plans for a massive dismissal of employees.
Several Chinese experts reported that Bitmain disbanded its Bitcoin Cash development team. Whatever lies behind these statements, only one fact is indisputable - PoS mining is one of the Achilles' heels of Bitcoin.
It is energy-intensive and leads to an unjustified waste of natural resources. Mining in the e-Chat project is completely different. It is “green”, as does not waste power and does not harm the environment. It can be described as "Proof of Replication".
The principle of ECHT mining is in providing part of the disk space to other users. The principle of operation resembles the functionality of SIA or STORJ. The more gigabytes allocated for common needs, the higher the chance of getting a reward.
Where can I spend tokens?
Users of the social network based on the blockchain can encourage other participants giving their coins to the most vivid comments. This allows you to monetize content.
Thus, in e-Chat, you can receive, send and exchange several types of currencies. It is very convenient. No wonder it is in such high demand!