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Logistically, financially, and environmentally: conventional methods of coin mining are highly unsustainable . Artemine eliminates the requirement of users to purchase and operate expensive energy guzzling hardware and purpose built rigs.
The system is referred to as “Minereum 2.0” by its creators, which makes immediate sense when
you see it coming straight from the same people. Minereum had pioneered the self-mining token paradigm, along with signature innovations such as ‘Genesis Addresses’ and the ability to create your own Ethereum token . Also an interesting innovation introduced by Artemine is the concept of “Public Mining” that allows anyone to mine the Token by calling a Smart Contract function.
What is Self Mining?
‘Self Mining’, as the name suggests, allows to instigate automated self-mining protocols on their pool of coins. By employing smart contracts to govern mining processes in sync with dynamic algorithms, this concept provides account holders with compensation which are comparable to the interest rates provided by centralized banking services. Furthermore, the algorithms monitor and adjust rates to ensure economic sustainability with regards to growth and inflation.
A New Disruptive Market?
Now, ANYONE will have the opportunity to self-mine: On January 22, Artemine Team released the Genesis Addresses Trading Website which allows anyone to acquire self-mining Genesis Addresses.
The Team stated to CCN: “As people start realizing the benefits of Self-Mining, a process that allows anyone to mine coins automatically without the need of any kind of mining equipment, we should start experiencing the rise of Genesis Addresses trading. This is a completely new market that according to our estimates can reach a $1 Billion dollar market value in a not so distant future.”
What are Genesis Addresses?
‘Genesis Addresses’ act as a fundamental asset to the self mining economy. These addresses are tasked with mining and distributing funds throughout the economy. According to the Team the self-mining rate of each Genesis Address is 0.000001% of the total amount of its ARTE holdings, per ethereum block. In other words for a Genesis Address to complete its self-mining task it will take 100,000,000 ethereum blocks, approximately 60 years.
Genesis addresses cannot receive coins from other accounts, ensuring that growth is controlled and inflation is minimised throughout the lifetime of the ecosystem.
A total of 2898 Genesis Addresses were created during the Artemine ICO and there will be no more according to the Team, adding that is impossible to generate anymore as part of the Smart Contract code.
Genesis addresses are easily tradable now. Users will be able to sell their addresses to one another without the need for external moderation; utilizing smart contracts for Blockchain secured and verified peer-to-peer transactions. Enabling tradability of Genesis Addresses has created the potential for a new, secondary decentralized economy.
Anything else should I know?
The Artemine Team has released this tutorial page where they explain how to use the token, how to set a Genesis Address for Sale, how to buy a Genesis Address, among other relevant information.
Returning in this “Minereum 2.0” is a popular service that offers the opportunity for any individual or group with intent and a small monetary ARTE fee to create their own self-mining token. This could be used for a wide range of purposes: for academic testing and development on the one hand, or (due to its accessibility) as a marketing tool for SMEs or Larger enterprises.
Artemine Team is due to release next month what they call the “ICO Factory”. This new service will be an update to the already existing Minereum Token Creation Service that will allow anyone to create their own ICO Smart Contract in addition to the creation of Ethereum Tokens.
You can find out more about Artemine, their activities, and their plans for the future over at their website , also by reading the whitepaper . Additionally, check out their Twitter page for the latest updates straight from the team.
As a tradeable cryptocurrency, ARTE coins are currently available to trade via exchange with their current partners Livecoin and Etherdelta . Trading pairs available at present with ARTE are: BTC, ETH and MNE.