Mining got too expensive and unprofitable for most.
• For some, however, it has become a business set for whales and bigwigs.
• A new action-hashed Proof of Volunteering mining protocol sponsored by Walletever aims to foster crypto rapid adoption among citizens by promoting collective wealth building techniques that challenge old economic parameters intended to privilege a small percentage.
CHOOSING HUMANS OVER MACHINES
Action-hashed mining as the starting point to accomplish all your financial goals
Replacing mining in a creative way has been a challenge. It is for the mainstream section of users the platform is expecting to serve but also among the crypto pundits, since mining was created to be a computing process. However, the computing part of the system is in, hence the word "hash" incorporated into the mining protocol decription.
No mining gear to purchase
A level playing field for all miners
90+ mining cycles daily
Creative self-mining process based on project type selected
Action-hashed mining is the process Walletever selected to interpret activities made by neighbors-turned licensed civic miners and convert them into values that feed the ₩EEN algorithm in a way that is similar to Proof of Work (PoW.)
The adjustment word in mining allows neighbors to understand that hashing is the study of actions that go through a numeric reading that will result in the mining cycle.
However, the mining protocol nurtured by this set of expecting actions is part of the database coded, and it is called Proof of Volunteering.
Volunteering mining as an affordable funding source.
Planning for a world after COVID-19 should be the core strategy for any business model.
Having the proper financial resources for the convergence of small businesses and consumers would result in a match made in Heaven.
Therefore, creating a compensation agenda for pro-bono and volunteering-like jobs seems like the most convenient format to distribute funding resources among neighbors, whose work will impact the real economy as employees or entrepreneurs.
The achievement of this milestone would occur if new employment opportunities are added at a local level, or whether an increment in people's income would boost consumer spending thresholds, which in the end, would save municipalities from going bankrupt due to the low speed the local economy moves.
Walletever has identified volunteering as an element poised to influence the speed at which the economy would recover. This element added under the distributed capital philosophy will be key for the success of most CEO endeavors.
As many are familiar with, classic volunteers are not compensated for the jobs they do. That situation remains despite the enormous benefit volunteerism produces for service providers, aggregators, consulting companies, corporate America's juggernauts, NGOs, contractors, and municipalities throughout the US, Canada, and most Western countries.
As we have stated all-along, one of the reasons money has been prevalent since day one was as a consequence of its use in commerce and as a method to pay for labor. This popular custom across Western countries of having volunteer networks performing no-compensated work makes the Walletever paid-for business model needed, but definitely feasible and attainable.
Participants or action-hashed miners would adhere themselves either to a scheme for those that will get in as professional volunteers or as neighborpreneurs.
A delayed compensation plan would support the first scenario, provolunteering. That is getting paid-for the actions they would perform in innovative ways. Following the delayed compensation proposal, additional alternatives to a straight salary will be available for professional volunteers to choose from.
However, action-hashed mining is for those pursuing a more entrepreneurial path through neighborpreneurship. This process involves planning for CEO projects and is intended for miners to swap non-monetary but measurable resources generated by the use of their brain, skills, and sweat for stocks, bonuses, dividends, or any aggregated ownership element that converts them into partners of endeavors they have chosen to be part of.
So, as we have noted, action-hashed mining makes sure people are not getting the classic compensation from an employer but they are investing with their actual time and effort through a task or by making something to happen for an entrepreneurial-type of earnings instead.
CREATING MONETARY VALUE THROUGH WORK
Defining Volunteering Civic Mining
Every cycle is coming with a set number to match by CEOs. The algorithm evaluates CEO proposals based on specific parameters that respond to individual requirements for every vertical. The sum of all projects together would create a mining block.
The score reached by the CEO would compete against other miners based on per-bracket minimum matching criteria for awarding. The system calculates the number of qualified CEOs uploaded for that mining cycle, along with the amount of funds applicants are looking for.
The data the algorithm puts together work dynamically, and no one has access to it. Therefore, no person can alter its outcome.
The number is the sum of all of the algorithm-approved CEO. Before the algorithm reviews them, CEOs must count on neighbors' approval first.
Reviews for new funding are open 96 times a day. Cycles are working nonstop. If there are not bidding developers at a given time, the system will continue ghost-minting, which is the process of generating crypto without miners applying for a CEO review.
The sum of all projects must reach a threshold to trigger a qualifying mining round. Otherwise, the mining will end up deserted —or without awarded CEOs.
The remaining projects would be carried over to the next mining cycle along with new ones.
Neighbors and the algorithm would review every new CEO project up to 10 times during the uploading day. After that, the projects get either approved or disqualified.
The number of projects reviewed on a per cycle basis varies. However, project acceptance, revision, and awarded procedure follow the first-come-first-serve basis criteria until the system reaches a set amount for uploaded CEOs for that cycle period.
A qualifying round can originate by the individual sum of the total proposed CEOs. In other words, the number of projects uploaded should account for at least 90% of the total expected by tier.
Although some projects would be portraying features with heavier weight due to the algorithm, individual projects will have up to 10 times per day to qualify for approval.
Let us elaborate on how this automated mining process would work.
Action-built Cycles are the name this mining procedure receives, and since it is an automatic process, it operates with or without active miners' engagement.
However, miners are not only needed but welcome, so many Community Endeavor Opportunity projects, CEO, would continue to come in and apply for funding based on an action-hashed algorithm that simulates native behavior of PoW.
With the submission of miners-managed local CEOs, a project management tool will empower Action-built Cycles throughout every process.
Check the two ways applicants would upload a new CEO into the project tray:
- A field manager uploaded CEO.
- When a team of developers proposes a new CEO and gets the approval to manage its development.
In short, the field enablers are neighbors members who do not need to hold a miner's license to upload a new CEO into the system. Those executive summaries uploaded by field enablers are subject to auction.
Developers are the CEO-related name used to identify volunteering civic miners.
It will be usual to have subject matter experts taking part during the decision-making process as well as verifiers at the end, to make sure CEOs are properly evaluated before its conclusion.
To receive funding, field enablers and developers must have the popular backing of the neighbors for the projects they have uploaded.
The popular vote will assure the CEO will go through the ₩EEN algorithm review for approval. That is a native functionality the system triggers several times a day —96 cycles during weekdays and at random intervals.
Votes should be a sizeable percentage of the registered neighbors' population. However, during the launching period, some requirements would soften.
Both parties are part of the recipient end, if their posted CEO gets funded throughout any of the 10 Action-built Cycles, it can take part of in a day.
MINING CYCLE DISTRIBUTION
Mining the way for a better society.
As it is now, mining routines within the Walletever ecosystem is set to last ~60 years.
The disbursement of funds would last longer since it is a wealth management combination between mined assets and dividends sharing, that belong to licensed miners, plus investments done in startups and ongoing enterprises that will last more than the schedule set for mining.
Cell Cycles are scheduled to run 96 times on weekdays, and during 48 cycles on weekends and holidays.
- The system will distribute crypto assets in 10-year blocks. Based on this framework, 6-decade time blocks will sparse minted assets throughout sixty years. However, the entire ecosystem is designed to last for as long it is of use for its members.
- The 10-year term, the fund allocation that will be distributed among miners, the percentage of total ₩EE supply in use, the amount of minted ₩EE expected per mining cycle, and the number of cycles per year are available for review in the table below: