How To Maximize AMT Token Mining Rewards
AMT tokens are integral to the Amaze ecosystem, serving as its primary currency. They empower users by enabling multiple functionalities, including mining for additional AMT tokens, trading on exchanges, purchasing/selling digital assets within Amaze, and serving other utility purposes. If you’re new to AMT tokens, this article provides comprehensive insights into their workings. Our focus here is on explaining the reward mechanism associated with AMT token mining, aiding you in maximizing your earnings through our mobile mining feature.
AmazeChain leverages mobile phones for validating block transactions, marking a technological breakthrough in addressing the blockchain trilemma. The core of Amaze’s business model revolves around minimizing hardware investments, and positioning Amaze gas as one of the most competitive offerings in the market. Over time, all AMT miners stand to reap rewards from a sustainable ecosystem as AMT gains increased utility through optimized gas fees and accelerated transaction speeds.
AMT Token Distribution on the Blockchain
In the AmazeChain network, transaction validation operates under the Proof-of-Stake (PoS) consensus, carried out by participants known as mobile miners. To become one, a participant must lock up a specific amount of AMT tokens. A dedicated registry records their addresses, statuses, and submitted attestations. Once these mobile miners activate mining on their phones, the earned rewards accumulate in a dedicated pool, later distributed in batches. Rewards are released to the miner when their pending amount reaches 0.5 AMT. This batch distribution ensures network security, efficiency, and effective management of numerous validators’ activities and statuses.
Our mobile mining process involves locking up AMT tokens, distinct from Bitcoin mining, which primarily necessitates appropriate hardware. Amaze has innovatively devised a method allowing easy AMT mining participation without expensive hardware or technical expertise. Employing Proof-of-Stake consensus, individuals must hold stakes in the network to qualify as ‘miners.’ Within the Amaze ecosystem, mobile phones serve as hardware to mine AMT tokens. The quantity of locked-up AMT determines the available blocks a mobile phone can mine and subsequently their rewards.
Block Time and Block Reward
Block time, also known as blockchain speed, refers to the duration taken for a new block to be created within a blockchain network. Miners or Validators require time to solve intricate mathematical problems and validate transactions, which involves computational processing. This duration varies across different cryptocurrencies. For instance, Bitcoin typically takes 10 minutes to generate a new block, while Ethereum accomplishes this in approximately 14 seconds. Moreover, the speed is influenced by the complexity of the hash function.
In the case of AmazeChain, a new block emerges approximately every eight seconds, showcasing a pioneering approach to blockchain technology. This innovation enables the optimization of processes, allowing the validation of transactions using a mobile device, thereby enhancing accessibility.
At various mining tiers, miners receive different block rewards. The reward scale is proportional to the amount of AMT tokens a miner locks up. Consequently, miners with more locked AMT tokens receive increased rewards per block. This incentivizes miners to commit less time for mining per day while maximizing their potential rewards.
Understanding the miner’s role and the process, let’s explore various mining tiers and their corresponding reward systems. Our aim is to create an inclusive network, welcoming the next billion users to Web3. In our proof-of-stake network, each miner enjoys an equal chance to validate a block and receive rewards. Block creation occurs every eight seconds across all tiers. However, the reward per block increases based on the miner’s locked-up AMT tokens.
- Entry Tier: Requiring 50 locked-up AMT tokens for a 12-month lockup period, miners can earn up to 9% annual mining reward by mining 75 minutes daily.
- Advanced Tier: Requiring 100 locked-up AMT tokens, miners earn a 12% annual mining reward by mining 15 minutes daily for 12 months.
- Pro Tier: For miners locking up 500 AMT tokens, a 15% annual mining reward is achievable by mining 15 minutes daily for 12 months.
- Group Mining: Participants can join or create mining groups with a minimum of 1 AMT token, aiming to reach 50 AMT tokens collectively. This option ensures a 9% annual mining reward without the necessity for daily active mining.
Maximizing AMT Token Mining Rewards
To maximize your mining rewards in the Amaze ecosystem:
- Allocate the Required AMT Tokens: Greater AMT token deposits yield higher mining rewards.
- Activate Daily Mining: Consistent daily mining is crucial to maximizing rewards without substantial battery or data consumption.
Amaze’s optimized processes ensure that daily mining consumes only 1-2% of your battery and less than 50MB of data monthly, making it an energy-efficient option.
Choosing not to mine actively and aiming solely for the mining reward? Opting for Basic tier or Group mining is an ideal choice.
In offering multiple user-friendly options, our goal is to foster a secure, decentralized, and accessible network. You don’t require expensive hardware or extensive technical knowledge to join, aligning with our commitment to a fair and rewarding ecosystem.