0 C
New York
BlockChain News

New way to create return from Crowd Machine compute tokens

The operator of a solution for developing and running decentralized apps, called Crowd Machine, has revealed details of how Crowd Machine Compute Token owners (CMCT) will be able to gain a regular return from October on, for renting their tokens to Crowd Machine’s decentralized network, the Crowd Computer.

To date, Crowd Machine has released to market approximately 500 million Crowd Machine Compute Tokens (CMCT) as the ‘gas’ to pay for app execution on the Crowd Computer.

App owners buy CMCT to pay Crowd Machine to run their apps on the Crowd Computer. Crowd Machine pays Crowd Computer super nodes (Agoric Nodes) in CMCT to execute app activities on their network of worker nodes. Workers nodes (Activity Compute Nodes or ACNs) are set up by anyone with spare capacity on an internet-connected device, such as a mobile phone, laptop or desktop PC, to earn CMCT for running app activities in the background of normal operation.

To start generating income for running apps on the Crowd Computer, Agoric Nodes need a minimum operating reserve of CMCT, which can be rented from the pooling program. In exchange for contributing a set amount of their tokens to the pool, CMCT owners will receive a quarterly return.

Craig Sproule, CEO of Crowd Machine, said that the CMCT pooling program gives token holders an easy way to generate income from their tokens, and add more fuel to the Crowd Machine community busy creating, selling and running apps.

“Where an individual may not be in a financial position to provide sufficient CMCT to run an Agoric Node themselves, pooling still allows them to gain an income from their tokens”, Sproule said. “In decentralizing the technology that helps us run our lives, we’re democratizing the ability to generate wealth from the IT industry.”

CMCT owners are welcome to contribute from 1000 to 5 million CMCT to the pooling program, which is being limited to 200 million CMCT in the first year. Crowd Machine has a fixed supply of 2 billion CMCT, of which approximately 500 million has been released to market.

Wieke Beenen
  • Trust Square expanding to become world’s largest blockchain hub – September 17, 2018
  • New way to create return from Crowd Machine compute tokens – September 17, 2018
  • ETC has been integrated due to UTRUST partnering with ETCDEV. – September 15, 2018
  • Two large scale Blockchain facilities opened by Etix blockchain in Iceland. – September 14, 2018
  • Blockchain capabilities upgraded by Waves platform – September 14, 2018
  • Innovative blockchain partnership kicked off between Paris Saint-Germain and Socios.com – September 14, 2018
  • Cryptocurrency app breaks milestone-downloaded a million times – September 12, 2018
  • Liquid, a new crypto platform with access to worldwide crypto exchanges is unveiled by Quoine – September 12, 2018
  • Best-in-Class Marketplace for Blockchain Companies and Service Providers launched by Cointopia – September 6, 2018
  • Alliance between Fidelity & Blockchain Start-up Building Block REIT – September 6, 2018
  • High profile ICO funded company Polybius first to publish audited annual financial reports – September 4, 2018
  • Former VP of Tesla Joins Solo Energy to Advise Development of its Virtual Power Plant Technology – September 4, 2018

View All Articles

Related posts

Grand Finale Week of Block.one’s EOS Global Hackathon Kicks Off in Cape Town, set to award US$500,000 to winning team


All Star Team Announces WHIRL, a Socially Driven ‘Pay it Forward’ Crowdfunding Platform Built on the Blockchain


Swiss Loyalty Ecosystem qiibee Announces Partnership with Italian Retail Association Confimprese