Introducing Non-fungible Miners On The Nitro Network
Non-fungible miners (NFMs) are the next generation synthesis of DeFi and NFTs. The non-fungible miner term should be embraced. NFMs have properties that make them distinct from DeFi and NFTs in a novel and forward-thinking way.
Non-fungible miners have arrived at the perfect time in the course of blockchain history. DeFi and NFTs have catapulted into the mainstream. The non-fungible miner (NFM) is created from the synthesis of decentralized finance and non-fungible tokens, the two most influential spaces in blockchain. The NFM ecosystem, with its IoT solutions, harnesses the limitless energy of these exciting fields. And with its ethos of fair play, anyone who participates wins.
Should business be separate from NFTs? Although it may look like they can’t work together, they absolutely can. In the right hands, DeFi and NFTs are a formidable duo. Nitro Network has realized this, creating an NFM protocol that has mining characteristics enclosed in NFTs. Without the high costs of crypto mining operations, NFMs are accessible, versatile and cutting-edge.
With this marriage of DeFi and NFT, Nitro Network has given birth to a new type of crypto ecosystem, a system that revolves around its flagship non-fungible miner.
What Are Nitro Network’s Non-fungible Miners (NFMs)?
Rather than using the terms digital miner or NFT, Nitro Network has pivoted to the term non-fungible miner. NFMs have some of the most original and innovative properties in blockchain. They are a synthesis of digital miners and NFTs, making them original and dynamic. NFMs are also far more accessible and cost-effective than the mining protocols on legacy networks. Distinguishing it from a digital miner or NFT is necessary, given the non-fungible miner’s distinctive and innovative properties.
Non-fungible tokens (NFTs) are assets powered by cryptography with unique identification on the blockchain. When Nitro Network refers to “miner,” it refers to miners that are in the form of NFTs. Imagine this. Instead of users needing to provide for the equipment, power and internet cost like in traditional mining, Nitro Network has users investing in NFTs which mine crypto! Furthermore, IoT is the core that enables a robust and forward-thinking network.
NFMs also strike at the heart of Nitro Network’s philosophy. Nitro Network aspires for everyone to have access to the DeFi and NFT revolution. Going shopping for equipment will keep most people from pursuing mining. This is not even factoring energy costs and hiring an electrician for more advanced systems. Those with smaller rig systems make tiny profit margins when the wiring has been put in place.
This is a high barrier to entry. Users need thousands of dollars to even hope to compete with state-of-the-art mining facilities. We have already seen how mining plays out with legacy networks. Many blockchains are migrating to Proof-of-Stake protocols to offset the cost and barrier to entry. Nitro Network has already taken care of this problem.
When creating the flagship NFM network, barrier-to-entry has been factored into its ecosystem. This low entry point jumpstarts any investor’s vision to have a stake in DeFi and NFTs. As IoT and big data continue to accelerate the future, non-fungible miners in Nitro’s Network give users easy access to both the DeFi and NFT revolution. This path is accessible for any savvy investor who has wanted to get into mining but is put off by cost.
How Non-fungible Miner Rewards Work
Those who dive into NFMs are forward-thinking individuals who want to channel interconnected miners on a blockchain. Once the Nitro marketplace launches, you can purchase an NFT and be a part of a community where everyone wins.
Nitro mines NCash each EPOCH. An EPOCH is a time period of thirty minutes, so you are rewarded every thirty minutes, you have an NFM mining on the blockchain. It’s as simple as that. Earnings and rewards are relative to which tier you sign up for.
Here are the three tiers:
- ICONIC: TIER 1 NFT
- PREMIUM: TIER 2 NFT
- TOP: TIER 3 NFT
By being on tier 1, or the ICONIC tier, you earn 95.69* NCash per EPOCH. Tier 2, the PREMIUM tier, you earn 52.05* NCash per EPOCH. The last tier, you earn 24.18* NCash per EPOCH. As long as you are signed up, you can just sit back, relax and earn rewards.
The Future Of Non-fungible Miners
A single non-fungible miner channels the next generation of blockchain on two fronts, through DeFi and NFTs. These two blockchain spaces, usually thought to be separate, make a dynamic duo that propels blockchain towards the future. More importantly, with Nitro Network’s NFMs, anyone with an internet connection can access this synthesis of DeFi and NFTs. In a world that is adopting blockchain technology at a record pace, NFMs encapsulate what it means to head towards the next generation of blockchain with inventiveness, ethos and accessibility.
*Reward per EPOCH is subject to change as Nitro cannot guarantee a specific number of earnings. These numbers are an average that is reflected on our Tier system with a network size of 20K miners.
About Nitro Network
Nitro Network is building a world of private communication networks powered by IoT together with LoRaWAN/3G/4G and 5G. This hyperconnected world is the IoT alternative to cellular networks unlocking a $3 trillion market opportunity. We believe our decentralized private telecom networks is a gamechanger built on a blockchain with our proprietary token NCash at the core that drives utility and value from unlimited use cases. We are creating an inclusive ecosystem incentivizing users to own, operate and earn from the private networks of the future.
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