logo

Generalized mining may be the answer in a down market

generalized mining for crypto

The term “Generalized Mining” is being used a lot in the crypto sphere from the second half of last year. Generalized Mining refers to any supply service provided by a third party for compensation allocated on the decentralized network. This way we can be directly engaged in the assets we invest in.

Recently, Placeholder and CoinFund established a partnership with the Grassfed Network for generalized mining. Previously, both Placeholder and CoinFund have shown a positive stance towards the idea. CoinFund’s founder stated that this method helps in increasing the liquidity and other important aspects of the platform while adding that for the initial stages crypto traders were most suitable.

The Grassfed network is to increase the number of users that can utilize the service while the firm already supports real-time networks like Steemit and Compound.

Placeholder, on the other hand, has always shown a keen interest in networks that allow users to take part in various methods. That is supported by Placeholder will allow users to bet tokens to win a chance to take part in decision making and their votes will be delegated to Grassfed’s voting service that would mark the partnership between the two networks.

However, voting is still way far from hash power and there is some time before it is achieved.

Technical experts consider that digital asset traders will actively take part in such activities similar to how traditional VC firms would set aside capital for follow-on-rounds. Meanwhile, some stated that the more complex it becomes, the more difficult it gets to optimize it and some firms would stay back to experience from trial and error of others.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

Related News

Hot Stories

Cardano price analysis: ADA/USD price has recovered to $0.3171 after gaining bullish support
Best crypto memes of the day - December 2nd
Orbeon Protocol (ORBN) Set to rise by 6000% in presale: Is it a better investment than Bitcoin (BTC) in 2023?
Best Twitter threads of the day - December 2nd
Top crypto tweets of the day - December 2nd

Follow Us

Industry News

'I think he's telling the truth,’ Kevin O'Leary on SBF
Blockchain games are doing great despite the failure of FTX
Reserve Bank of India’s crypto alternative is here: How can one use the e-Rupi?
Russian bank infuses metamask into its blockchain
OpenSea ends 2022 with major partnerships and $1B in NFT royalties

Add Your Heading Text Here