Giga Watt is a facility that offers custom mining packages and a range of turnkey mining services including equipment sales, maintenance and repair, and private blockchain servicing.
WTT tokens give the right to use Giga Watt’s processing center capacity to accommodate one watt’s worth of mining equipment power consumption, rent-free, for the lifetime of the hosting facility (generally, about 50 years). This allows Bitcoin enthusiasts mining the cryptocurrency much cheaper than the online price – for about $540. Besides, Giga Watt’s facilities power any proof-of-work miner enabling WTT token holders to mine Ethereum and Litecoin, and even more digital currencies in the future.
Remarkably, the first two batches of WTT tokens have sold out completely in just three days with tokens to be issued in August 2017. Initially, Giga Watt announced the upcoming launch of crowdsale in May.
Giga Watt offers a total of 30 million WTT tokens. The tokens will be issued in batches, in step with the construction of the new capacities. The facility consists of multiple independent mining pods, and the capacities will be launched progressively once new modules are completed. The last capacities are scheduled to be built by mid-November 2017.
Giga Watt is located in the state of Washington (USA) that can boast of one of the lowest electricity rates in the world. Customers from all over the world can leverage the mining equipment as far as their physical presence at the facility is not required.
All funds raised through the WTT Token Launch are put in fiat escrow, which means that funds received in cryptocurrencies are first converted into USD. Once the underlying capacities are built and relevant tokens are issued and distributed, funds get released from escrow in batches. The law company Perkins Coie that has vast experience in the field of blockchain and cryptocurrencies serves as the WTT Token Launch escrow agent.
New Alchemy conducts the audit of smart contract which drives WTT tokens. It is one of the most experienced companies on the market specializing in smart contract development and audit.
WTT Token launch is being conducted by Cryptonomos platform. This blockchain solution for crowdsale offers a number of advantages, which includes customizable structures and model smart contracts to reduce costs and time at all stages of development, a wide selection of adaptable functions, independent auditing of smart contracts, and assurances of legal compliance and security.