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Sunday, April 15, 2018

HASHRENTAL - Connecting Seller (miner) With Buyer Through Decentralized Escrow Smart Contracts

Greetings Community, in this post I would like to introduce about HashRental project, and for more details let's just go to the following discussion:


HashRental marketplace connects sellers (miners) of hashing power with buyers of hashing power through smart contracts, decentralized Escrow. It offers convenient and easy-to-use tools for all crypto-market participants to create as much profit as possible. The only existing large cryptocurrency mining marketplace has been hacked in late 2017. As a result, the market customers lost $60 million. So this seemed like a problem that we could do something about. 


Existing other marketplace is a centralized service. It’s a point of weakness. It was only a matter of time until hackers decided to attack this platform, which is exactly what happened.


We've created the First Decentralized Hashing Power Marketplace.
A prior agreement: Soros Fund Management
Under negotiation: hedge funds, venture capital funds, private investors.


Working MVP. Hashrental mining system and redirecting system have been tested and launched. $544000 has already been paid to the MVP participants in cryptocurrency

Minimum amount of hashing power for 1 Luhn is determined by the current weighted average profit from mining altcoins for each algorithm. After the service is launched all users can exchange Luhn coins on hashing power and get profit

1 Luhn price on ico, without bonus = $0.04. Minimum profit from mining of one hour with Current approximate price that guarantee you some hashing power is $0.128, thus, token rate will increase up to $0,128 after launching Hashrental system.

Decentralized platform allows users to safely exchange (Luhn coins → hashing power → any other cryptocurrency) with one another and pools.


For Hashing power sellers:

Sellers (miners) can run HashRental software or connect their mining hardware (GPU Rigs, ASICS, Pcs and smartphones) to HashRental servers (stratum ports). Their hashing power is forwarded automatically:
To the pool that the buyer has chosen for mining. Then Sellers get paid* in ETH for renting from smarts contracts after them confirms.
To the HashRental pools, if there is no required volume of orders. Then Sellers get paid in ETH from HashRental pools.

This is all done automatically and the process does not require complex technical skills.

*The price for rent is determined by the current weighted average and refreshed each minute.

For Hashing power buyers:

Select the cryptocurrency that you want to mine
Select a pool on which you want to mine
Set needed amount of hashing power
Set needed order time period
Place calculated amount (or more) of the Luhn coins into the smart contract*. This provides proof-of- funds and allows for a much safer trade. Then:

  • Successfully confirms receipt of needed amount of hashing power, and releases the escrow. 
  • A party raises a dispute, and brings in a third-party arbitrator, giving them the keys to decrypt the messages and work with both parties to make a resolution.

Get reward from selected pool in cryptocurrency (Btc, ETH, and any other)
Trade complete!
*The smart contract allows users to safely exchange (Luhn coins → hashing power → any other cryptocurrency) with one another and pools, and to name a trusted third-party to mediate a trade if a dispute arises. Currently, the trusted mediator is always hashrental.io, but the contract will be adapted in the future to switch over to a reputation-based distributed arbitrator pool.





For More Information:

The bitcointalk name :Aray80

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