Mining X NFT Technology - Digital Mining

NFM seeks to combine the mining and NFT worlds by bringing about the age of digital cryptocurrency mining. In order to understand the technologies involved, we have briefly described them in this section.

Mining Technology

Cryptocurrency mining is the process of generating new cryptocurrencies (i.e. BTC) by solving a computational puzzle. Mining is necessary to maintain the ledger of transactions upon which a given blockchain is based. Our project will primarily mine bitcoin, but we will also allocate a small amount of the overall mining power to mining alternative cryptocurrencies. Cryptocurrency mining is achieved using graphic cards (GPU mining) or specialized computers known as application-specific integrated circuit miners (ASIC mining).

Non-Fungible Tokens

Non-Fungible Tokens (NFTs) are unique cryptographic tokens that exist on a blockchain and cannot be replicated. NFTs are used to represent various real-world items such as artwork, music, real estate, and more. NFTs provide a means of “tokenizing” assets, allowing them to be bought, sold, and traded more efficiently while reducing the probability of fraud.