Why Mining

Get to know a new idea of money.
The powerful idea behind Sharemine AI and mining.

What Is Mining?

Why is mining so important?

Cryptocurrency networks need computational power to run securely. The world's most powerful blockchains are supported by millions of computers around the world.

Unlike paper money, Chiacoin and other cryptocurrencies are produced mathematically and held digitally. The people who voluntarily offer their computing power to secure these cryptocurrency networks are called miners. Cryptocurrencies don't have a central government or other so-called "middlemen" that decide about the future of the system. - They are in fact digital, borderless democracies in which miners vote with their computing power to reach order and consensus.

How is Chiacoin kept secure?

The only way to not create money out of thin air or corrupt it, is to burn real energy. This is called Proof-Of-Work.

Today, Chiacoin is the most secure computer network on the planet and it's practically impossible to break it! The reason or that is hash power, the umbrella term used for the computing power that miners provide to the Chiacoin network and similar cryptocurrency networks. Due to the rapid growth of the ecosystem, mining operations today are mostly running with specialized high-performance computers that function most efficiently set up in large data centers.

What's the incentive for miners?

It all comes down to trust: Miners keep the blockchains trustworthy and are rewarded for their efforts.

As miners, we are processing and verifying the transaction of the cryptocurrency ecosystems and keeping their public transaction history (=blockchains) maintained and secure. For this, the mining community is rewarded with the networks' transaction fees and newly created coins. It's a win-win situation! When you start mining with us, you are getting your share of the reward.

The bis vision of cryptocurrency.

The future will be decentralized.

To keep the integrity (and values) of all cryptocurrency ecosystems intact, miners keep the networks safe and its authority decentralized by keeping each other constantly in check. This allows both a healthy growth and a fair distribution of currency units to all crypto-citizens!

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Why Chia Mining?

We are making mining
accessible to everyone.

The founding team of ShareMine AI foresees that Chia Network will be among the top 5 cryptocurrencies in the near future.

Chia Network, founded by Bram Cohen, who is also the founder of peer-to-peer (P2P) BitTorrent protocol, as well as the first file sharing program to use the protocol, also known as BitTorrent, in 2001.

Chia is a decentralized open source global blockchain which utilises the consensus algorithm of blockchain called ‘Proof Of Space and Time’, which claims to be less wasteful, more decentralized, and more secure than Bitcoin. While inspired by the Bitcoin blockchain, the primary resource of Chia is not computing power. Under the PoS algorithm, disk space becomes the main resource, and PoET is used to come to a decentralized “Nakamoto-style” consensus that validates transactions.