The mining process involves huge costs in electricity, internet and complex computing hardware. Increased competition in mining of cryptocurrencies is directly adding on to concerns of global warming. With these pressing issues, companies are coming up with different solutions to reduce the negative impacts of mining.
Gstar Coin (GOX) has made mining GOX a child’s play through their mobile gaming platform. Anyone, regardless of their age can now play games on their smartphones and mine GOX simultaneously. What’s more is that mining through games does not incur huge electricity costs, require space or time. Users earn GOX while gaming and can use the coin for other internet contents or shopping. The coins can also be traded on various exchanges and converted into fiat currencies.
The Gstar foundation has developed its business model with an aim of a practical application of its cryptocurrency unlike other projects that focus on trading on an exchange.
Gstar project was developed with the purpose of its application to the creative entertainment industry starting from mobiles games and audition programs to internet broadcasting, lottery tickets, cross-border donation activities and tourism. The business model focuses on three sectors; Web-based mobile game, global audition program and internet broadcasting.
Web-based Mobile Gaming
Gstar has launched its web-based mobile game through GOX. The game does not need to be downloaded from Apple or Google stores; therefore, it can be accessed by anyone across the globe. The mobile games are based on the disruptive blockchain technology and also come in simple versions for amateurs to complex casino games for experienced players.
At the beginning of the project, with every transfer of the coins GOX will update the ledgers within a few seconds. However, the speed is anticipated to be slowed down to an average of one minute with the widespread use. Gstar has estimated the total mining capacity of GOX at 10 billion, out of which 5 billion will be supplied initially to the market through mobile mining.
The GOX Ecosystem will be fostered by all three communities of Gstar that will work independently and simultaneously connect with GOX that will flow between all three communities. For instance, GOX mined through a mobile game can be used to pay for an audition program or to gift Internet Broadcast BJ.
With a mission to bring value to their project within months and enable a real use of cryptocurrency, Gstar foundation has designed a unique ecosystem that extends to the mobile environment. Their vision to bring a practical use of crypocurrency in the real market will certainly contribute towards modification and development of the blockchain technology.