Minebase, the energy-efficient algorithmically managed blockchain, has announced that it reached 800,000 users in just two months after its official launch.
Minebase started in 2017 with the aim of creating a coin backed by gold. But with 2018's new stablecoin regulations, the project could not continue. As an entrepreneur, Dr. Seiz set out to create a token like Bitcoin with an algorithm that won't massively pollute the environment. With its unique Creative Token Production (CTP) algorithm, the tokens are released into circulation through transaction fees that existing blockchains already generate.
The protocol has received extraordinary growth throughout its first month of operations and is set to celebrate it with a blockchain-wide competition where participants can win up to 10,000USDT by completing simple tasks.
About $MBASE and CTP
The Minebase Token ($MBASE) is an ERC20 token released into circulation through Creative Token Production (CTP), an energy-efficient algorithm that controls the token supply and floor price. The smart contract controls the algorithm to adjust the token price based on the crypto market's behaviour. Minebase releases new MBASE tokens from the transaction fees its users generate.
Blockchains like Bitcoin use the proof-of-work algorithm that consumes much energy to mine cryptocurrencies. Minebase aims to change this with the in-house developed CTP algorithm. The algorithm makes it possible to generate $MBASE tokens through the transaction fees on Bitcoin, Ethereum, and the top 20 decentralized exchanges.
MBASE mining does not require expensive hardware equipment and has zero power consumption compared to Bitcoin. Minebase has demystified the concept of crypto mining, and users can earn $MBASE tokens with a smartphone or computer. Users need to create a Minebase account and wallet address. Then, all the fees used to trade on supported blockchains will be deposited in the wallet address and can be used to create $MBASE.
In addition to generating $MBASE through transaction fees, CTP will also allow users to generate $MBASE through walking. Users need to walk 6 kilometres with their smartphones to generate one $MBASE token. Also, the speed of Minebase token generation depends on how fast they are walking. The mobile application is set to launch in the third quarter of 2023.
Users can also earn $MBASE tokens by staking a principal. However, the total supply of Minebase tokens is fully controlled by CTP, and the Minebase team can not alter it. So, users need not worry about oversupply and a lack of demand in the market.
This is the beginning of a new crypto era that requires a new revolutionary cryptocurrency. Minebase was founded as an ecosystem of tools, applications, games, and utilities that add to the world of crypto and make it more vibrant. Minebase combines the expertise of tool development, application development, crypto, and NFT games. This is an area where a few possess the skill combination that Minebase has. In addition, Minebase's energy-efficient cryptocurrency is immune to external factors like market demand and supply.