Virtual Mining
Pixel Protocol offers users the opportunity to acquire PIXEL tokens through virtual mining. Virtual mining involves users purchasing virtual miners using cryptocurrency, which enables them to participate in the mining process and earn PIXEL tokens.
What is Virtual Mining?
Virtual mining is a process where users purchase virtual miners using cryptocurrency to mine PIXEL tokens. These virtual miners simulate the mining process without the need for physical hardware.
How Virtual Mining Works
Virtual mining operates as follows:
Miner Purchase: Users can purchase virtual miners using cryptocurrency. Each type of miner comes with a specified hash rate, determining its mining capability.
Daily Token Distribution: Every day, a block of 50,000 PIXEL tokens is distributed among virtual miners.
Reward Calculation: The reward distribution is proportional to each miner's hash rate contribution percentage in the mining pool. Users receive rewards based on their miner's contribution to the overall mining effort.
Mining Difficulty: As more users purchase virtual miners, the mining pool expands, and the mining difficulty increases accordingly.
Reward Adjustment: Block rewards decrease by 8% annually to manage token inflation and ensure the long-term sustainability of the ecosystem.
Virtual Mining Process
The virtual mining process involves the following steps:
Miner Selection: Users choose the type of virtual miner they wish to purchase based on their budget and desired hash rate.
Purchase: Users complete the purchase of the virtual miner using cryptocurrency. New miners will start mining the new block once the current block reward is released at midnight.
Reward Accumulation: Daily rewards are accumulated based on the miner's contribution to the mining pool's hash rate.
Withdrawal: Users can withdraw their accumulated rewards at any time, subject to the platform's withdrawal policies.
Benefits of Virtual Mining
Virtual mining offers several benefits to users:
Passive Income: Users can earn PIXEL tokens passively by participating in the virtual mining process.
Accessibility: Virtual mining allows users to participate in token acquisition without the need for expensive hardware or technical expertise.
Flexibility: Users can choose the type of virtual miner that best suits their budget and mining goals.
Contribution to Ecosystem: By participating in virtual mining, users contribute to the security and decentralization of the Pixel Protocol network.
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