Amidst the downfall of traditional cryptocurrencies, we must evolve and adapt to the needs of the current crypto market. What it needs is a new token that would hold value, provide utility to users, and retain the interest of the crypto community. After three years of extensive research, we have finally found how to beat the existing pitfalls of the crypto market. And this is how Minebase was born.
Minebase is the only cryptocurrency with an algorithmically managed token supply and price and is created using transaction fees of other blockchains. With Minebase, you can transact and earn, hold and earn, and even walk and earn! So, let’s see how Minebase is valuable and why you should join this fastest-growing crypto community.
What is The Value Behind Minebase?
You might wonder, if Minebase can be created for free, what is the value behind it? Let us discuss it with respect to other cryptocurrencies, for instance, the oldest one – Bitcoin.
In the beginning, when it all started, you could create one bitcoin for a few cents. However, today it would take you over 10 years to create 1 bitcoin with a single computer. So, the question is, what is the value behind Bitcoin? The value of Bitcoin completely depends on the electricity cost, hardware cost, and people’s trust in the project. A project can succeed only through trust, and the same goes for Minebase.
What Makes Minebase Unique?
While Bitcoin is one of the most famous cryptocurrencies, it is one of the most expensive ones to mine. Furthermore, Bitcoin mining through traditional means consumes more energy than in countries with millions in population. In addition, the vast number of blockchains and the high transaction fees often deter people from adopting cryptocurrencies.
In contrast, Minebase has taken the environment-friendly way, which even includes the entire crypto network. The transaction fees on other crypto networks are used to create the Minebase token. Just like Bitcoin uses electricity, Minebase uses transaction fees to generate new tokens.
What is The Process Behind Minebase?
Bitcoin uses the proof-of-work algorithm to guarantee the security of token creation and transactions. So, a process behind the Bitcoin network takes time to create a new token or confirm a transaction. Similarly, Minebase also has a process behind it, namely Creative Token Production or CTP. Also, the time factor plays a big role in Minebase.
Due to Minebase’s CTP algorithm, the creation price will keep increasing. Therefore, the time required to create a Minebase token will keep increasing. Per our estimate, it would take about 3 – 4 years to create 80% of the Minebase tokens through CTP. Meanwhile, the remaining 20% can take up to 20 years to create.
Moreover, we also plan to limit the users who can create the MBASE tokens. Hence, until a CTP price of $10.48 is reached, the number of users is limited to 500,0000. With each increase in CTP price, we will allow more users to join, with a maximum of 10 million users. At the time of writing, Minebase already has over 130,000 registered users. Meanwhile, through transparency, we aim to keep the token price stable on crypto exchanges in the coming months.
What Are The Components of Creative Token Production (CTP)?
While most cryptocurrencies depend on market forces like supply and demand, Minebase depends on its Creative Token Production (CTP) protocol. The in-house developed algorithm manages the circulation of Minebase tokens (MBASE). Hence, Minebase can not be affected by external factors. The CTP consists of three main components: price, algorithm, and token burning.
After registering with Minebase, you will receive an automatic wallet address if you have a minimum of 10 MBASE in your wallet. The wallet address is randomly selected from Ethereum, Bitcoin, or the top 10 decentralized exchanges. All fees generated by the wallet will be credited to you. Currently, the CTP price is $6.50, so you will receive one MBASE token after reaching $6.50 in fees.
The CTP algorithm determines the price of Minebase tokens. The more tokens are generated for circulation, the higher the creation price will be. That means the algorithm increases the fees that must be generated in each wallet to create a Minebase token. After 60,000,000 MBASE tokens have been created through POT, the cost of CTP will increase to $8.26. It happens through the algorithm controlled by the smart contract.
CTP Token Burning
The CTP plays a part in actively stabilizing the Minebase token by reducing the token supply. For instance, after the MBASE token is listed on a crypto exchange for six months, Minebase starts tracking the market automatically. If the token falls by 10% or more, Minebase burns 0.025% of the unspent tokens on the main wallet.
Furthermore, all MBASE tokens used for buying NFTs on the Minebase platform would be burned. Also, Minebase will offer games where 10% or 100% of the MBASE tokens would be burned depending on the game. From September 9, Minebase also plans to burn all fees used by the CTP system every month.
Creative Token Production ensures that the more tokens are created, the higher the creation price, and the more tokens are burned, the shorter the time for the token creation price to increase. It’s an absolutely sophisticated system.
Minebase – Final Say
With Minebase’s unique and sophisticated system, Minebase has the potential to become one of the top cryptocurrencies. We believe it can have a great future through long-term orientation and planning of the MBASE token. With a smart-contract-based price floor and algorithmically managed token circulation, Minebase is effectively immune to external factors.
Together we have developed the evolution of cryptocurrency with the potential to change the market completely. With our extensive roadmap, you can also trust us to keep delivering on our promises in the future. So, if you were wondering if Minebase is a token with a long-term plan, here you have your answer. However, your trust in Minebase will be crucial to its future success.