The Lumerin project is preparing to launch a decentralized hash power marketplace for Bitcoin mining based on the Arbitrum One network.
Exciting News! #Lumerin is launching a decentralized #Bitcoin hashpower marketplace on @arbitrum. Trade BTC mining hashpower without your own hardware. Ensuring trustless, real-time transactions and democratizing Bitcoin mining! #arbitrum #CryptoNews #DecentralizeMining
Full… pic.twitter.com/RNon57TtID
— Lumerin Protocol (@HelloLumerin) September 21, 2023
The new platform is designed to “smooth out the peaks and valleys” of the first cryptocurrency’s mining operations. It allows market participants to buy and sell hashrate by adjusting various parameters – amount of power, price, contract duration.
According to the developers, all transactions on the marketplace are peer-to-peer, real-time and do not require trust. Users do not need to own their own hardware.
The service is designed to help companies manage operational risks. It allows you to set fixed prices, providing predictability of income. The platform also reduces the need to invest in rapidly depreciating equipment, project representatives say.
In addition, miners in regions with cheap electricity will have the opportunity to sell hashrate at world prices. Using the Lumerin Wallet, users can purchase contracts, allocate power to their preferred pool, and directly receive income from cryptocurrency mining.
According to the developers, the choice of the Arbitrum network was due to its good user experience, fast and inexpensive transactions.
The official launch of the platform is scheduled for September 26.
Let us recall that in March, the mining company Navier launched a service for trading hashrate-backed tokens.
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