Titan Launches the First P2P Hashpower Marketplace for Crypto Miners
Titan.io, Inc. (‘Titan’), a cutting-edge blockchain software company based in Chicago, announced the launch of the Lumerin Protocol, the world’s first P2P decentralized hashpower commodity marketplace, which enables a next-generation version for Bitcoin mining, today.
For a long time, crypto miners have continuously sought out creative ways to navigate the technical complexities of Bitcoin mining in order to increase their profitability and efficiency. Titan’s next-generation Lumerin peer-to-peer protocol is set to transform the transferability of hashpower and provide miners with a first-of-its-kind opportunity to sell, purchase, and deliver hashpower. The new P2P platform decentralizes the control of hashpower and enhances access, transparency and efficiency for everyone from individual miners to firms across the world.
The Lumerin Protocol promises to advance the crypto industry by making Bitcoin hashpower a tradable, liquid financial commodity. With its global launch scheduled to take place in Q2 of 2022, Titan seeks to build on the vision for crypto and blockchain technology as a truly decentralized, peer-to-peer, currency.
Ryan Condron, the CEO and Co-Founder of Titan, said: “This technology seeks to combat the rising problem of hashpower centralization by offering miners the ability to buy, sell, access, distribute and manage hashpower from anywhere on the globe. The Lumerin Marketplace provides a foundation for the entire mining ecosystem to realize its full potential by creating a single, virtual marketplace that improves efficiency, and provides greater access to capital and investments.”
Improving the Efficiency of Crypto Mining
Launched in 2018, Titan.io, Inc continues to be a cutting-edge software platform that enables efficient crypto mining activities.
In December last year, Titan raised more than $15 million in its recent sale of the Lumerin Token as part of efforts to make the token available for use. The firm plans to use the funds from the sale to support its continuous efforts to expand and market the hashpower marketplace.
The Lumerin Token is an integral part of the Titan hashpower marketplace and its utility and functionality. The token supports the efficient creation of hashpower smart contracts and the Lumerin Validator nodes in creating a trustless, secure, and decentralized environment.
Individuals and companies who need hashpower, but do not want to invest the funds required for cryptocurrency mining IT infrastructure, can purchase or sell the token on Titan’s marketplace. Besides that, the decentralized mining ecosystem/marketplace can create more investment and income growth than ever before. The ecosystem enables such opportunities by allowing the use of financial derivatives/futures and services for lending, custody, OTC and trading.