4NEW : Sustainable cryptocurrency mining ecosystem using Energy generated from domestic waste

Cryptocurrency mining is one of the sectors that consume bulk of electricity in fact statistics show that global consumption of energy for mining of cryptocurrency is higher than total consumption rate of some countries in the world. This will continue as many miners continue to join cryptocurrency mining business. Electricity is mostly generated through the use of coal and natural gas which cause some environmental hazard due to discharge of some volatile organic compound (VOC) in to the ozone layer. 4NEW is set to revolutionize energy generation and cryptocurrency mining industry through electricity generation from domestic waste which will be used in mining cryptocurrencies. Electricity generation through waste is one of the novel approach through which municipal waste are converted and the gas released are used as fuel which is used in generating electricity. Energy generation from waste can be achieved through some technologies which include Gasification, Combustion, and Anaerobic digestion.

4new will be an eco-friendly blockchain based ecosystem through which waste will be converted to energy in 4New power plant and the electricity produce will be used in 4NEW crypto mining. 4New ecosystem relies on waste energy model through which the waste that is being process are being paid for and also the sales of other product which are being generated during conversions. These products include Fertilizers, organic material and fresh water. In order to start the project, the cost are being funded through the coin sold through the Initial coin offering and the main plant will be developed through the cash which is generated through collection of waste and also revenue from other sale of some by-products which were mentioned above. In order to address problems this may arise as a result of scalability and volatility of the mining hash, 4NEW coin will epitomize a fragment in fraction of the gross mining capacity of the Network and not a fixed non-adjustable rate. With this, 4NEW will be able to increase the total mining volume in order to equal a modest rate on the network.

 

On completion of the 4NEW ecosystem, all the users will have the opportunity to decide which of the cryptocurrency they will put their KWATT Coin power on in order to mine it. Top 20 coin which can be mined will be available from which the users can pick from and successful picking of a particular minable cryptocurrency will result in estimation of amount of hash rate which will be needed to mine the picked coin. Finally the yield will be credited to 4New wallet own by the user.

4New Mining pool will be designed and provided inside a shipping container which will be mobile. This will give room for scalability of the mining rig when it is necessary. The 4NEW mining rig will have container which will have capacity to hold 432 Antminers generally used for mining Bitcoin or 2675 GTX 1060 GPU. 4NEW will focus on using ASICS S9 model type of antminer which is one of the most sophisticated and efficient mining device available today in the market.

ASICS Miner

4NEW official token is the KWAT token which is an ethereum based token. This token will be available to be swap for KWATT coin after the development of the 4NEW ecosystem. The initial coin offering will offer Three Hundred Million (300000000) token for sales. In order to maintain the sustainability of the project, 4NEW advisors and founders will be strictly prevented from selling coin until January 2019. For more information about 4NEW, you can visit the website here https://4new.io/  

The Article is written by

Thesmallgod

Bountyhive