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Explanation and Opportunity to participate with Syntropy Cloud Mining
Syntropy Cloud Mining (SCM) has developed a new way to mine crypto currency coins that have been newly released into the crypto market using the basis of traditional Proof of Stake (PoS) mining. We call this new process of mining Proof of Return (POR), which is exclusive to SCM. To better understand this new process of mining returns in traditional PoS mining, it’s best to start with the explanation of what traditional PoS is.
Proof of Stake (PoS) Mining Explanation:
Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins he or she holds. This means that the more altcoin owned by a miner, the more mining power he or she has. Traditional PoS mining requires each participant to build a master node to stake and hold the coins to be mined. All these coins that are available for PoS mining are startup coins and newly released ICO’s, which carry inherent risk and volatility.
The proof of stake was created as an alternative to the proof of work (PoW), to tackle inherent issues in the latter. When a transaction is initiated, the transaction data is fitted into a block with a maximum capacity of 1 megabyte, and then duplicated across multiple computers or nodes on the network. The nodes are the administrative body of the blockchain and verify the legitimacy of the transactions in each block. To carry out the verification step, the nodes or miners would need to solve a computational puzzle, known as the proof of work problem. The first miner to decrypt each block transaction problem gets rewarded with coin. Once a block of transactions has been verified, it is added to the blockchain, a public transparent ledger.
Mining requires a great deal of computing power to run different cryptographic calculations to unlock the computational challenges. The computing power translates into a high amount of electricity and power needed for the proof of work. In 2015, it was estimated that one Bitcoin transaction required the amount of electricity needed to power up 1.57 American households per day. To foot the electricity bill, miners would usually sell their awarded coins for fiat money, which would lead to a downward movement in the price of the cryptocurrency.
The proof of stake (PoS) seeks to address this issue by attributing mining power to the proportion of coins held by a miner. This way, instead of utilizing energy to answer PoW puzzles, a PoS miner is limited to mining a percentage of transactions that is reflective of his or her ownership stake. For instance, a miner who owns 3% of the Bitcoin available can theoretically mine only 3% of the blocks.
Bitcoin uses a Proof of Work (PoW) system and as such is susceptible to a potential Tragedy of Commons. The Tragedy of Commons refers to a future point in time when there will be fewer bitcoin miners available due too little to no block reward from mining. The only fees that will be earned will come from transaction fees which will also diminish over time as users opt to pay lower fees for their transactions. With fewer miners than required mining for coins, the network becomes more vulnerable to a 51% attack. A 51% attack is when a miner or mining pool controls 51% of the computational power of the network and creates fraudulent blocks of transactions for himself, while invalidating the transactions of others in the network.
With a PoS, the attacker would need to obtain 51% of the cryptocurrency to carry out a 51% attack. The proof of stake avoids this ‘tragedy’ by making it disadvantageous for a miner with a 51% stake in a cryptocurrency to attack the network. Although it would be difficult and expensive to accumulate 51% of a reputable digital coin, a miner with 51% stake in the coin would not have it in his best interest to attack a network which he holds a majority share. If the value of the cryptocurrency falls, this means that the value of his holdings would also fall, and so the majority stake owner would be more incentivized to maintain a secure network.
In addition to Bitcoin, Litecoin (LTC) also uses the PoW method. Nxt (NXT) is an example of a cryptocoin that uses the PoS method. Some coins like Peercoin (PPC) use a mixed system where both methods are incorporated. As of May 2017, Ethereum (ETH) is in the process of completely switching from a PoW to a PoS system.
Read more: Proof of Stake (PoS) Definition | Investopedia https://www.investopedia.com/terms/p/proof-stake-pos.asp#ixzz57I6L72aK
Profits from traditional PoS mining come from the coin issuers in the form of income that is generated daily which in turn produces a weekly, monthly and annual sum that is declared by the coin issuer. When a coin is staked there are a set number of coins that are locked by the issuer of the coin as a requirement to be a Master Node Originator, and those coins are mined daily to produce more coins for the Master Node Originator. Coins are mined each day based on the transactions that take place with each coin mined and their value can be based on their utility and acceptance in the crypto marketplace. The number of coins mined each day can vary and the coins value can go up or down short term and long term. Most Master Node Originators will develop a portfolio of coins that they are staking to help diversify risk and at will, remove or add coins to help balance their portfolio.
SMC Proof of Returns (PoR) Mining Explanation:
Syntropy Cloud Mining (SCM) has developed a way for eVantage360 Members to purchase a fractional mining contract called Stake Mining Blocks (SMB), each SMB constitutes the value of 0.05 Bitcoin (BTC). SCM has identified and created a Stake Mining Master Block (SMMB) which consist of 1000 Stake Mining Blocks (SMB). Once each SMMB is filled up with 1000 SMB then that SMMB is closed to new Members. SCM then takes the pooled BTC (from the Members who purchased) and SCM purchases a new coin (each member chooses which coin they want to mine, this determines which Master Block they are placed in) and SCM builds the Master Node for that new coin to be mined in that SMMB. Each coin that is chosen has been researched and vetted using many different parameters to determine the utility & profitability of that coin to be mined and the node price & number of coins required to stake the coin. Other determining factors in selecting a coin to offer is what problem is the coin solving, does the solution offer long term benefit and sustainability, and does the coin already have a specific niche’ in the crypto marketplace that sets itself apart from other similar coins. Members determine which coin they want to mine based on the SMMB they are entering into contract with.
Each member purchasing an SMB or multiple SMB positions are purchasing actual mining hardware: such as servers, space & location to house the server, ongoing maintenance of the servers, utilities to power the servers, constant internet connection, engineering & development, Coin Management & Administration fee’s. At any time during the thirty-six (36) month SMMB contract period the SCM team can recommend to their Members another coin to diversify into through the repurchase option each Member has. This is the decision of each member, not SCM.
To conduct business in the most transparent way and to be held accountable to its Members, SCM has developed a full back office including access to a Master Block Explorer (MBE) for each Member and for each coin being mined in the SMMB. Each coin has an Explorer that is accessed directly from the coin provider. SCM provides this link to every coin being mined and is accessible through the Member’s back office dashboard. Each Node in the Master Block has its own separate Explorer link that allows the Member to see in real time the number of coins being mined and how many of those coins they own and how many coins they have received that day. The MBE is set up for each participating Member to have access to their SMB’s which is password protected and specific to their SMMB. When logged into the MBE they can see exactly what coin(s) are being mined in their SMMB on a daily weekly and monthly basis. They can also see how much Proof of Return (PoR) they have in their private wallet account. Each Member can determine what they do with their account balance as their choices are to sell their coins on an exchange for the current value of BTC, then transfer that BTC to their external wallet for their personal use or allow that balance to accumulate until they have a current value of 0.05 BTC, then that 0.05 BTC can automatically purchase a new SMB, which is added to their existing portfolio of SMB’s. When a new SMB is purchased by a Member in this scenario, it creates a new thirty-six (36) month SMB contract.
What sets SCM apart from any other program in the PoS space is, the coins that are allocated (split 50/50 with Member) to SCM, which are used to purchase more Nodes to be added into that specific coins SMMB, staking and building more Nodes increases the number of coins that are mined, which in turn produces more coins for the Member and SCM. SCM’s best efforts and intentions are to create as many Nodes as possible during the Members mining contract period, this strategy will create the most coins, in the near future for the Member to liquidate along the way or allow the compounding growth of those Nodes and coins mined for future liquidation at the end of the mining contract period.
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The information contained herein on these pages is for educational and training purposes ONLY. Illustrated projections of returns or growth of coins is purely speculative and does not represent a guarantee of future performance. This information provided does not represent a solicitation to purchase or a solicitation to advise. This information does not contain tax advice. You are encouraged to get advice from certified or licensed tax and financial professionals before proceeding. No copies, digital reproductions or verbal dissemination of this educational and training material is allowed, including ANY Social Media postings. Violations will be an immediate cancelation of eVantage360 Membership and cancellation of ANY Syntropy Mining Contracts (all initial purchases will be refunded less 20% service fee, within 10 working days of termination) All corporate decisions are final and no appeal process is granted.
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