By
Julia Sakovich
July 10th, 2021
SpiderMiner has been created to make room for future advances in the algorithms of all the tokens it supports.
SpiderDAO, a decentralized router-based VPN service provider, has unveiled the launch of its new environmentally-friendly hardware miner dubbed the SpiderMiner. Per a press release shared with Coinspeaker, the miner will have the capability to mine $SPDR, the protocol’s native token, as well as about 4 other tokens that will be unveiled in the near future.
Mining digital currencies have often brought controversies, especially when it is focused on Proof-of-Work (PoW) mining model that requires high energy to operate. The SpiderDAO miner has been ingeniously designed to solve the problem of high energy consumption as little power is all that is required to power and keep the miner on.
Pre-booking for the SpiderMiner is currently ongoing, and for each miner sold, $5 is donated to the Tree-Nation project. The choice of Tree-Nation takes its backing from the environmentally friendly approach of SpiderDao, and the conservation project has planted approximately 12 million trees and has offset over 1.5 Billion tons of CO2 emissions.
The SpiderMiner has a number of in-built features that make it a superior innovation to watch. These include but are not limited to Military-grade VPN protection; Low-power, eco-friendly operation; Privacy and security features for the Metaverse, including a Decentralized ID (DID); and Voting and community participation features via a hardware DAO.
SpiderDAO has developed a new mining algorithm dubbed the Proof of Privacy Staking (POPS), a hybrid mining algorithm that is highly energy efficient. The POPS algorithm draws on a combination of on-chain and off-chain factors to validate mining rewards. A set of requirements are placed on the operators of the mining hardware to ensure the sustainable operations of the miner.
Two of the prominent requirements required to stay on as a SpiderMiner are the integration of the SpiderVPN into the mining processes, and the compulsory bonding of a minimum of $10 worth of each token for the duration of the mining period. Setting up the SpiderMiner and initiating the POPS algorithm is all a miner needs to stay in business and earn passive income.
SpiderDAO Miner Built for Future Upgrades
A major challenge existing miners have beyond the high electricity utilization is the fact that they become obsolete at a very fast pace. As mining difficulty increases, the efficiencies of most miners dwindle, however, SpiderMiner has been created to make room for future advances in the algorithms of all the tokens it supports.
Some of the future-proofing features that have been incorporated include, a DAO voting in a secure hardware environment; Monetizing excess bandwidth, with the returns being deposited into the user’s SpiderMiner wallet; Hardware crypto wallet and Decentralized IDs that use 2FA, military-grade cryptography, and MIPS architecture so that you can access your hardware wallet from any registered personal device (phone, tablet, computer) with complete confidence and security; A dedicated and built-in Metaverse Protection System to guarantee security while participating in or interacting with Metaverse services and applications.
SpiderMiner also guards against inflation to bring a guaranteed income to its miners with the 1-click 90-day token bonding option that can be leveraged as long as the miner is in operation. This bonding option provides as much as 160% ROI to all miners plugged into the system.
