What is ERON MINER?
ERON MINER is the mining application for ERON TOKEN where all users can earn 1 ERON/hour and 20% of the current mining rate of every person invited into their downline.
As the mining process will create tokens, there will be a 50% cut of the mining rate at the following milestones:
- 75.000.000.000 – 50% cut from 1 ERON to 0.5 ERON
- 125.000.000.000 – 50% cut from 0.5 ERON to 0.25 ERON
- 150.000.000.000 – 50% cut from 0.25 ERON to 0.125 ERON
The total mining supply needed will be 175.000.000.000 ERONs.
Every 50% cut of the mining rate will also mean a 50% cut of the referral commission of 20%:
- 75.000.000.000 – 50% cut from 0.2 ERON / referral to 0.1 ERON / referral
- 125.000.000.000 – 50% cut from 0.1 ERON / referral to 0.05 ERON/ referral
- 150.000.000.000 – 50% cut from 0.05 ERON to 0.025 ERON / referral
Once the total needed supply will be complete the application will stop mining.
All users will be able to see the mining balance in their account on the application at any given moment.
The users will receive the mined balance once the total needed supply will be accomplished. At the end of the process, once they receive their tokens, they will have the option of putting all mined tokens into a staking pool, where they will receive 10% interest/ month.
The main goal of this mining application is to supply liquidity for the upcoming ERON MARKET and ERON PAY.
The users will be able to use their mined ERONs in the ERON MARKET in order to buy products. The value of the mined ERON at any given moment will be the same as the value of the ERON TOKEN that will be listed on the exchange.
Technical overview of the mining process:
The current intent at ERON is to use a mining algorithm where miners are required to fetch random data from the state, compute some randomly selected transactions from the last N blocks in the blockchain, and return the hash of the result. This has two important benefits.
First, ERON contracts can include any kind of computation, so an ERON ASIC would essentially be an ASIC for general computation - ie. a better CPU.
Second, mining requires access to the entire blockchain, forcing miners to store the entire blockchain and at least be capable of verifying every transaction. This removes the need for centralized mining pools; although mining pools can still serve the legitimate role of evening out the randomness of reward distribution, this function can be served equally well by peer-to-peer pools with no central control.