You’ve heard about group mining—but what is it? Read on to find out why over 20,000 users have registered and why it’s worth you joining!
What is AmazeWallet group mining?
Group Mining rewards users in AMT for being part of an active mining group for a lower entry price, making it more accessible! Group miners will be able to:
– Join or create a group
– Choose your group name & emoji
– Select their AMT commitment
– Get AMT when the group is filled
Note: AMT is a mainnet currency, listed on several leading exchanges.
Since June 28, when we launched our mainnet mining, users have been able to run a Full Node on their device and get crypto for using their phones—with just 1-2% battery per day and <50mb of data per month! Just like being a validator on Ethereum or Cardano, or mining Bitcoin or Litecoin, AmazeWallet users can broadcast, verify and generate blocks, all on mobile, and get crypto for doing it. It uses our unique VPOS (Verified Proof of Stake) which integrates VRF, VDF, KZG, ZK-Proof and ZK-VM.
Why launch group mining?
Our goal has always been to make blockchain decentralised and accessible for everyone. That’s why we started this journey to build our Layer 1 chain and mobile app. Many mining apps show advertising to users, have anonymous teams or are still on testnet—while running a node on major networks like Ethereum or Bitcoin can be extremely expensive, 32 eth and 10K USD respectively. We have a diverse community around the world, and many of you wanted an easier method to participate in mining even in case AMT price rapidly appreciates—so that’s why we’ve made the entry point an inclusive 1 AMT. The AmazeWallet vision? Everyone, from anywhere, running a blockchain from their phone and getting rewarded for it!
How can I start group mining on AmazeWallet?
Group mining will launch this week, and to get started you will need to do the following:
- Download AmazeWallet from AppStore of PlayStore
- Open an account and create a wallet
- Swap USDT for AMT or send AMT from an exchange
- Click the ‘Node’ tab along the bottom navigation bar
- Click Group Mining to access the pre existing groups
- OR Create a group yourself to invite your friends
- Choose to commit between 1-49 AMT to the group
- Make sure you have enough AMT (0.01 is fine) for gas fees
- Share! Because once filled, it’ll activate and you’ll start mining
Please note that while your rewards are given each block reward, and will appear in your wallet after 45 days from when your group activates. In the future we will provide 1 month, 3 month, and 6 month lock-up periods as well.