Cryptocurrency mining is not as lucrative as it used to be. It is mainly due to the increasing difficulty levels and the need for dedicated, more powerful hardware. Having realized that, miners are moving away from individual mining (self-mining) and shared coming together to pool their resources to mine on a large-scale basis. The profitability of such an operation is much higher than that of self-mining.
Back in 2013, one could make decent profits through self-mining, but over time, the number of miners has steadily increased. Over that, many big firms in China have set up huge data centers for this purpose alone, driving the mining difficulty to new levels.
But all is not lost, there is still ways to making cryptocurrency mining better and Veritas is on it right now. The cryptocurrency project offers a greater advantage over conventional mining due to its low electricity and operational costs. Generally, crypto-mining requires a lot of energy since the process intensive hardware consume a lot of energy, not to mention the associated cooling requirements. One of the sure shot ways of making crypto-mining more profitable is by reducing the input costs – electricity and operational costs.
Veritas has identified inexpensive ways of deriving electricity, at a cost of around US$0.035 per kWh. The energy is drawn from eco-friendly, renewable sources of energy.
Veritas Mining Token Sale
Veritas Mining tokens are called Veritium (VRTM) which are Ethereum ERC20 tokens. During the sale a total of 135 million VRTM tokens will be supplied. The price of 1 VRTM = 0.001 ETH. The presale took place from 28th October, with a cap of 5 million tokens. During the presale, a total of 4,697, 826 VRTM were sold, raising an equivalent of $720,000. The crowdsale began on November 24th with a minimum sale amount of 0.25 ETH.
For any 100 tokens sold, 18 additional tokens will be created and distributed among the team, partners, advisors and bounties. Any VRTM tokens that will not be sold during the period of the sale will be burnt and no further VRTM tokens will be mined in the future.
Why be a VRTM Token Holder?
Veritas offers its token holders quarterly dividends in Ethereum for as long as they hold their tokens. The token holders are expected to breakeven in 6 months after obtaining their tokens. Veritas has arranged an ecosystem with various sources of revenue and also plans for a future integration into more traditional financial fiat markets. The ultimate goal of Veritas is fungibility. This means that they intend to make demand and value for and in their token. Token holders will be able to use the tokens as pledge and collateral if need be. They will also be trade worthy in terms with fiat or cryptocurrency markets.
More information about the Veritas platform and crowdsale is available at – http://veritasmining.co/