DICE has the capacity of being a simple digital replacement of real money. Apart from this quality, DICE shines in the areas of fundraising and investment. When you talk of fundraising and investment, one word that readily comes to mind is ‘Crowdfunding.’ You do crowdfunding with real and tangible money where people connect and raise funds for a specific cause.
The correct term to use in DICE terminology is ‘Crowdmining.’ It is a new term and is very much similar to Crowdfunding. In Crowdmining, you raise funds by mining DICE tokens associated with a specific operator in a cluster.
DICE Token Scraping – The Concept
determining employs two external parameters, ‘global complexity’ and ‘local complexity.’ To understand the concept of scraping, you should have an idea about these two external parameters and their significance.
Global complexity is a single unique number that globally defines the difficulty of mining a unit with value 1 DICE. Remember, a DICE unit is a complete data block that can have only 21 values (20/1024, 21/1024 ……219/1024, 220/1024).
Local complexity is a number that can vary within a small range from the global complexity. Each operator chooses their local complexity. It defines the minimum value of a valid unit associated with the particular operator.
Scraping – The Technique
The local complexity is the critical element of scraping. In fact, the difference between the global minimum and the local complexity number is the clinching factor. This example will set things right.
Assume the global complexity of mining one unit of value 1 DICE is 40. The rules say that local complexity can spread within a small range of 10 lower up to a maximum of 10 higher than the global complexity. Any value outside this range will not produce valid DICE units.
Now, we have said that the operator determines the local complexity number. Assume he chooses a number 33 (3 above the global absolute that is always 10 less than the global complexity).
The operator at level 33 will not validate newly mined units with complexity 30, 31, and 32. Of course, they are valid units but are less than the bar set by the operator. Hence, the miners cannot claim these new units from the operator.
Does it entail that you lose these DICE units? No, they have a global validity and are in fact the value that the miner raises for the operator. Other DICE units with complexity 33 and above will get successful validation from the operator and be in the possession of the miner.
Scraping involves allowing the operator to ‘scape’ the units that do not pass the pre-set minimum. However, they have a global validity with the miner getting the rest of the units.
Now, you can ask the question as to why should the miner mine the units for the operator with minimum complexity more significant than the global minimum. There are many reasons for the same.
- The miner might have received various preferential options while dealing with a specific operator.
- Brand loyalty is also a valid reason for the same
- Some miners do it for speculative purposes as well.
What will happen if the operator sets the local complexity at the global minimum? In case the operator does so, there would be no scope for scraping at all.