Crypto mining is now going virtual
As usual Technology continues to advance and change on a daily basis. With the growth of web3, NFTs, and new blockchains it seems technology is alive and hungry for a new future. Through this growth more and more assets are becoming digital. Seven years ago the amount of cryptocurrencies available could be counted on one hand but now there are more than 18,000 different crypto offerings totaling over $2 trillion in value and 221 million users across the world invested in crypto in some shape or form with over 1 million actively mining crypto.
Actively mining crypto puts a large environmental footprint on earth and contributes to lots of environmental concerns dealing with computing power and energy. With these concerns the company E-gold has decided to create the first mining system built completely on the metaverse. Miners will be able to purchase NFT miners that will mine in the metaverse. This has many crypto miners excited as it effectively lower the overhead needed to mine crypto such as high powered rigs.
The NFT miners would mine E-gold and collect and trade the currency as well. The E-gold would be viewed in a warehouse or mining facility in the metaverse. The warehouses or mining facilities will allow for the users to keep track of assets as well as make trades.The NFT miners were designed with predefined business logic and trades are executed via smart contract. The platform will also have a mobile application for users to carry out all tasks.
This method will not require the same methods or same amount of energy as traditional mining methods and many environmentalists and government officials should be very enthusiastic about this possibility as well.