BED (Bit Ecological Digital Asset) , the best choice for mining in 2021
With the continuous development of the blockchain consensus mechanism, the design of the mining model is iteratively upgraded. Compared mining data between BTC and BED, the threshold and cost are high on BTC mining, while power consumption and threshold are much lower on BED mining, so that BED mining is more in line with the vision of decentralization, meet the investment needs of small and medium miners and stimulates new value potential for mining development.
Next, we will compare BTC and BED around three aspects.
1.Technical characteristics
BTC: Traditional Bitcoin mining uses the POW mining mechanism. Bitcoin is generated by a large number of calculations through specific algorithms. Miners consume computing resources to process transactions on the chain, create new blocks, and receive Bitcoin rewards. However, the number of effective blocks is limited, the mining threshold is high, the waste of resources is large, so small and medium miners are in a difficult situation.
BED: A low-threshold BED mining mechanism came into being. In the BED blockchain system, an innovative consensus algorithm was proposed that mixed PoW and PoS. Holders must lock their BED tokens to purchase “Tickets”. When a user purchases a ticket, the BED tokens they used will be locked (they cannot spend), and the lock-up period will last until their ticket is called by the network’s pseudo-random function to complete the voting, which is a mining Cycle (1008 blocks). Tickets bring opportunity costs to the PoS mechanism. In this way, it can ensure that the game is fair for PoS voters and it can follow the best interests of the network.
2. Income distribution
BTC: Miners will enjoy full block rewards
BED: Miners hold a ticket for mining: PoW miners receive full block rewards.
Miners do not hold tickets for mining: PoW miners get 20% block rewards, and the remaining rewards are shared by the pos pool.
3. Return on investment
The ROI of mining is mainly considered by two aspects of data, one is the payback, and the other is the annualized rate of return. Generally, the shorter the project payback period and the higher the annualized rate of return, the better on investment of the project.
Because there are too many varieties of PoW professional mining machines, and it’s different in electricity fees in various regions, the cost is difficult to quantify, so we just compare the current Ant S9 mining machine used by BED and the unified electricity fee standard .
BTC:
BED (Ticket Mining):
BED (No ticket mining):
We can know that the income of BED mining with or without ticket is much higher than the income of BTC mining from the above three income graphs.
A specific comparative analysis of the three aspects of technical characteristics, income distribution, and investment returns, we found that compared with BTC, BED has lower mining costs and thresholds, and can balance mining efficiency and investment security, can build a distributed search and mining ecosystem that is efficient, safe, easy to expand, and low-cost.
After the BED mainnet is launched in 2020, it is the best choice for miners to invest in mining to create a new stable, safe, and high-return mining method and create new potentials for mining. It will also become the future of mining development.
As blockchain technology matures, it not only supports tokens, but also supports many other business applications. We have seen the true value of BED. The impact of distributed ledger technology may be greater than any one of us realizes, it may change the economy, business and society, and BED has begun to touch the potential markets.
