Chicago - In a significant step toward decentralizing Bitcoin mining, the Lumerin Hashpower Marketplace will make its official debut on September 26. This groundbreaking platform, hosted on the Arbitrum One network, will usher in a new era of accessibility and inclusivity in the world of cryptocurrency mining.
The Lumerin Hashpower Marketplace, following a rigorous testnet phase, promises to provide global Web3 users with the ability to trade Bitcoin mining hashpower through peer-to-peer transactions. What sets this marketplace apart is its commitment to smoothing out the often unpredictable peaks and valleys experienced by Bitcoin miners.
Miners can use the Lumerin Hashpower Marketplace to sell their hashing power using smart contracts, specifying key parameters such as hashrate amount, duration, and price. This innovative feature provides a greater degree of predictability and risk mitigation, as miners can set fixed prices, ensuring a steady income stream.
On the flip side, miners can also use the marketplace to purchase hashpower from their peers. This allows them to increase their chances of earning Bitcoin rewards without having to invest in rapidly depreciating mining equipment. Buyers can conveniently browse and select contracts that meet their needs, knowing that they are engaging in secure, trusted transactions with real-time payments upon contract completion.
In both scenarios, the Lumerin Hashpower Marketplace adds a layer of predictability to revenue streams. Miners in regions with low electricity costs can even take advantage of arbitrage opportunities by selling hashpower contracts at market prices and profiting from the price difference.
The Lumerin Hashpower Marketplace is not just for experienced miners. It opens the world of Bitcoin mining to anyone, anywhere, and at anytime. Users do not need to have specialized knowledge, invest in expensive hardware, or commit to long-term contracts. Armed with the Lumerin Wallet and comprehensive documentation, users can effortlessly purchase hashpower contracts, direct them to their preferred mining pool, and start earning mining revenue.
Founder Ryan Condron expressed the profound impact of the launch of the Lumerin Hashpower Marketplace "Today marks a milestone in our quest to democratize mining," said Condron. "With the Lumerin Hashpower Marketplace now live, we are taking steps towards restoring decentralization to the Bitcoin mining landscape and providing a direct, accessible path for everyone to participate in the mining ecosystem."
The choice of the Arbitrum One network for the launch underscores Lumerin's commitment to user experience. It ensures faster transactions, reduced gas fees, and an overall seamless experience for users.
Jeff Garzik, CEO and co-founder of Lumerin partner Bloq, Inc., emphasized the importance of Bitcoin hashpower in supporting a secure distributed network: "Bitcoin hashpower remains the foundation for the most secure distributed network yet devised, creating opportunities for new financial systems and much more." He added, "Through Lumerin, professional miners and crypto enthusiasts alike can participate in Bitcoin mining in a way that makes the distribution of hashpower more fluid and democratized, moving our ecosystem closer to its goals."
The Lumerin Hashpower Marketplace's unique approach has the potential to reshape the dynamics of crypto mining, making it accessible and appealing to a wider audience.
