It’s no surprise that the evolution of the blockchain is bringing us more innovative ways of being implemented, especially in the crypto world. A blockchain is defined in numerous aspects, however, one of the most important characteristics is the number of miners supporting that specific network.
The blockchain has been combined with numerous types of protocols, incentivizing all who join that ecosystem. As there are many ways to mine a coin, it is important to understand exactly the importance a miner is offering.
We are now crossing the threshold from a centralized, data gathering, web 2.0 architecture, to a decentralized data freedom web 3.0 architecture, and with that, mining is becoming more than just a money-generating hobby, but rather an integral aspect of building this new internet.
NetFlowCoin is fast becoming a strong contender in challenging all other web 3.0 platforms. After 10 years of developing the SDVN (software-defined-virtual network) protocol, and implementing it among numerous fortune 500 companies through their 3rd party app developers. NetFlowCoin’s vision is toward breaking the data-centric architecture, into a distributed people-first data architecture.
The NetFlowCoin network is a decentralized P2P communications network, enabling users to share, store, and stream data among one another without the interference of any centralized bodies. Thus creating an environment where people have full control over any data they have, and choose how their data is used.
Miners of the NetFlowCoin platform are doing more than just accumulating NetFlowCoin tokens, but, are actually supporting the future internet. Every member who joins as a miner is contributing resources that can be utilized by the entire ecosystem. Incidentally, miners are taking on the challenge to create iterations of the current content of web 2.0, and offering it across the web 3.0 network.
By doing so, centralized companies will lose the ability to use people’s data for their own gain without offering users compensation to access it, transitioning from web 2.0 data gathering to web 3.0 data ownership.
It’s no surprise that miners become one of the most important aspects of a blockchain project once the mainnet and technology are ready. Miners are the lifeblood of any blockchain network, and without them, a network cannot support itself.
NetFlowCoin miners have the option to mine certain aspects of the network. There are three types of mining for NetFlowCoin, firstly there is block generation mining. Block generation uses the consensus mechanism POS (proof of stake) and verifies transactions across the NetFlowCoin network.
The second mining method is traffic mining. This method uses a POF (proof of flow) consensus model. These miners are offering their mining device’s storage, and content to a network of users. The more users purchase their ‘services’, whether that be content streaming, or storing, the more a traffic miner can receive NetFlowCoins.
The third mining method, also using a POF model, is bandwidth mining, whereby miners can contribute their bandwidth power to the network, which will increase the overall speeds of the network. Enabling users to experience very low latency, fast upload/download speeds, and incredibly smooth streaming.
As the NetFlowCoin network is a very powerful ecosystem, miners will have to purchase very specific mining equipment. These mining machines will be in the form of a NAS (network-attached storage) device, that has NFCs SDVN protocol software embedded into the firmware. There will be 3rd party sellers releasing these mining machines in 2022.
In conclusion, the NetFlowCoin network is more than just another blockchain project, but instead, is a people’s first, private communications internet infrastructure that will break the chains that individuals are forced into by today’s oligopolies, and take back ownership of their data.