What are the benefits of NGK project development to the profitability of miners?
The blocks in the NGK blockchain system are like electronic bills, which record the transaction information of all nodes. Each block data of NGK is stored in the customer node, and all nodes together form a safe and reliable distributed ledger. Even if the data of any node is destroyed, the system will not be affected. The entire NGK system has a high degree of transparency and openness. In addition to encrypting the private information of all transaction parties, the sharable information will be disclosed to everyone, and the public data can be queried through an open interface.
The NGK miners is responsible for the safety of the Layer 0 consensus layer by storing more capacity data. A more secure consensus layer can attract more business applications. Miners can also obtain tokens from multiple chains in the parallel mining process to increase profitability.
From the perspective of miner ecology, the ETH upgrade to 2.0 and 1.0 mining opportunities become inapplicable. In addition, miners may be eliminated after the BTC halving. Will the changes in these industries benefit the NGK ecology?
It is a huge project to switch from the current Ethereum 1.0 to the Ethereum 2.0, and its consensus mechanism will shift from POW to POS. With the transformation of the consensus mechanism, the mining method of Ethereum will also undergo tremendous changes. Nowadays, the GPU miners used by Ethereum 1.0 miners include GTX1060, GTX1070 and GTX1080. Most of them are expensive and consume too much energy. While Ethereum 2.0 mining will no longer require strong computing power as a guarantee. Therefore, the huge amount of mining hardware from Ethereum miners needs a suitable place.
After the BTC halving, a considerable part of the miners was eliminated due to the excessively high ratio of “electricity fee/revenue”. In addition to the BTC ASIC mining machine, these miners also have hardware equipment including factories, racks, power supplies, and networks, which are reusable.
For NGK, the GPU equipment eliminated by Ethereum can be used for NGK P drive. The professional hardware equipment of BTC miners can purchase additional hard drives for the NGK hard drive mining. Compared with PoW, it has extremely low mining energy consumption.
Under the NGK consensus, the consensus of multiple chains is completely consistent at the DB layer, because the same consensus layer is used. The difference is that, according to different chain strategies, there are different query methods at the Spacekeeper layer. At the same time, there are different block production rules at the PoCMiner layer.
NGK is an open source project, allowing anyone to participate. There are many supporters of NGK ecology in the market.
Nevertheless, NGK itself has done many technological innovations. As more institutions flood in, it will create a fairer and more stable market.