StakeCube Welcomes Tradeable Mine Workers

Teething problems with the ground-breaking MineCube model have led to ongoing updates—including the introduction of tradeable mine workers.

In the lead-up to the v3 update, StakeCube was inundated with requests from users wanting the flexibility to buy, sell and exchange their MineCube workers.

Granting their wish, the all-in-one crypto ecosystem has now decided to turn workers into bearable assets that can be sold, swapped or sent to other users.

It’s the latest step in StakeCube’s quest to revolutionise the sector by creating decentralised mining contracts.

MineCube workers as SCP contracts

With MineCube workers as assets, the whole concept of DeFi mining contracts is shaken up.

StakeCube intends to implement smart-contract capabilities for the SCC blockchain, SCP or StakeCube Protocol. Over the course of 2021, the company will create assets to represent workers in each of the mining pools.

These workers will then be available for trade, with users able to sell or swap them at different prices according to their profitability. Workers can also be exchanged between users.

Under a revised system of time-split MineCube pools, workers will be shares from one pool rather than shares from all the miners on MineCube (as is currently the case).

When the system starts up, all existing miners will enter Pool 1. From that point, new workers will be shares in Pool 2, with Pool 3 opening later under the same principle. Users will only win rewards from the pools their workers come from.

Workers will then be located in miner pools with the newest machines. Pools will also be more stable over time, unaffected by incoming workers and miners.

Balancing mine worker supply and demand

MineCube is just one of the functions on the StakeCube platform, which also features a comprehensive crypto exchange, PoS pool and masternodes.

Users can engage in crypto mining, using SCC to buy a share of a mining worker. They can then earn daily rewards for BTC, ETH, DASH, LTC, DOGE or SCC from the mining operations pool.

StakeCube has long been trying to find the best way to balance worker supply and demand. The two main objectives of MineCube often seemed to conflict—to have workers available whenever a user opened the app, while still allowing users to buy an unrestricted number of workers, whenever they wanted.

The company has introduced a series of protocols to help juggle these competing demands—including an automatic supply chain system, an extended daily limit with registered SCC masternodes, and a dedicated OTC desk for bulk purchases.

Mining fees heading south

StakeCube wants more users to choose SCC as their payout option. So, mining fees have been reduced from 5% to 3% when SCCs are chosen. When the percentage allocation payout system comes into force, this reduction will apply only to the SCC allocation.

The company is also reducing mining fees for each registered SCC masternode.

MineCube looks set for an exciting future, as the system undergoes constant refinement!

Image by xresch from Pixabay

Tag Post :
Share This :
Share on facebook
Share on twitter
Share on linkedin
Share on google
Cult Today

Cult Today

CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

Read More

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed