As digital and cryptocurrencies deepen their roots in the financial world, developers are also expanding research and development on means of mining or earning cryptocurrencies more efficiently. Talking about research, development and innovative solutions, one project, in particular, is making some serious progress. Innovation Factory’s BFICoin and its ecosystem are doing exceptionally great.
BFIC’s team has devised a new mining solution “Stake-Mining” for BFICoins. The concept is relatively new in the industry and has already been launched.
Understanding “Stake-Mining”
The term “mining” is as old as we can think of. Humans have been mining resources such as gold, coal, minerals, diamonds, gems and natural resources since their early days. Mining refers to the extraction of anything from its habitat.
Similar to these resources, cryptocurrencies are also stored inside blocks of a blockchain. Computer systems are used to decrypt and solve the blocks on the blockchain in order to extract or mine crypto coins. The first even crypto mining concept was introduced with the arrival of Bitcoin. Since its launch, people have been mining Bitcoin to date and almost 91% of the Bitcoins have been mined already.
This mining method consumes a lot of energy. The mining rigs and setups are also costly. BFICoins however can be mined in a different way, which saves energy as well as costs. This method is called Stake-Mining. The stake-mining concept might be new but is not at all complex. Users simply need to stake some BFICoins in the system. The system in return rewards them with pre-mined BFICoins.
Stake-Mining BFICoins:
Stake-mining BFICoins is a super energy-efficient process. It does not put any burden on the energy resources and is very cost-effective. While Bitcoin miners need expensive mining rigs worth thousands of dollars, BFICoin stake-miners only need their smartphones.
You simply need to download the BFIC Network App from the Google Play store and install it on your smartphone. Once installed, you need to stake at least 1 BFIC in the BFIC Network app and you’ll be rewarded with a percentage of the staked amount as a mining reward. The mining rewards are disbursed on a daily basis if users activate their mining sessions each day. Each stake-mining session is valid for 24 hours, after which it expires. You need to reopen the app and activate the session again. The activation of the mining session doesn’t cost anything.
Value-Added Features:
BFIC’s stake-mining comes with multiple value-added features. Using the BFIC Network app, you can build your networks, and create your teams. Each team member stake-mines on their own account, but you get a percentage reward.
The project BFIC Network also includes an affiliate program. With each referral signup, you get a percentage of their signup amount as a referral reward. These value-added features make BFIC stake-mining even more exciting and fruitful.
BFICoin is by far the only cryptocurrency that has the stake-mining feature. It has no regional restrictions. BFIC’s stake-mining will definitely be a trendsetter and we can expect one of the best crypto projects to follow it soon enough.