Product description:
1. Chia was established in August 2017 to develop an improved blockchain and intelligent trading platform. Chia will be an enterprise-level digital currency. Chia is using the first new blockchain consensus algorithm since Bitcoin, which is called "Proof of Space and Time". It was created by Bram Cohen, the best network protocol engineer in service and the inventor of BitTorrent. Chialisp is Chia's new intelligent transaction programming language, which is powerful, safe and easy to audit.
2. MASS is an open source PoC (Proof of Capacity) consensus algorithm. MASS was proposed by top computer scientists at the Massachusetts Institute of Technology (MIT) and is the second-generation consensus technology after the Bitcoin PoW consensus. It successfully solved the problem of Bitcoin's high energy consumption and can provide underlying consensus support for any blockchain. Its technological innovation is that each user only needs to contribute a small amount of space to participate in the storage and verification of blockchain data. Based on MASS, millions of spaces all over the world will be connected into a super consensus machine, escorting the blockchain in the form of public services.
Earnings settlement and expense explanation:
1. Mining income is based on the average daily income published on the public and transparent website of hpool.co, and is automatically transferred to the user's CCCoin wallet by T+1.
2. Settlement method: After upgrading to dual mining, the previous lease period (that is, the remaining period of the lease period of the chia contract) will be continued. The mining earnings of the previous day will be settled at 14:00 Beijing time every day and will be issued on a daily (24h) basis. The earnings can only be withdrawn when the amount specified by the platform is reached.
3.The full storage rate is 88% of the storage space. No pre-stake, no gas fee, no post-stake, and non-linear release.
4. After the upgrade, the Chia management fee is 5%, and the MASS management fee is 8%, including technical operation and maintenance services, mining pool system usage fees and other fees.
5. The upgrade fee paid for the first time for 1PB includes 55 yuan combustion fee (combustion fee + technical service fee + combustion risk fee) + 6yuan / month usage fee (monthly usage fee includes storage equipment fee, electricity, bandwidth, etc.). A total of 61 yuan;
6. If the official adjusts the algorithm, settlement, etc., the official will prevail.
Property Rights of Mining Rigs
1. After the lease term expires after 1080 days, the property rights of the mining machine belong to the user.
