Have you already raised the topic with the difficulties of mining? I would like to know Foleum team opinion of the on this matter.
"Blockchain difficulties have increased significantly as the interest in Bitcoin, Ethereum and others has evolved. This
presents a clear risk to profitability of any mining operation and requires progressive management to ensure its adverse
effects are minimized. The more popular mining becomes the more the difficulties are likely to rise and the harder it can
be to realize the same quantities but due to the restricted supply of cryptocurrency it is expected that the value of the
mining rewards increases as well." - Foleum white paper.
Yea, im understand that. But i want to know the specifically main probles of blockchain minig in Foleum team's opinion.
Hmm...i see what you mean. Okay, according the white paper and Foleum site info, there is 5 major problems, it is:
Price and Availability of Electric Power
Hardware Acquisition
Thermal Management
Network Outages
and Hardware Failure
I hope that was helpful
Huh, yes it was really helpful, thank you. Good that they're known minig problems, but more important is do they know how to solve it?
Of course, they have their own approach for each problem, they have talked about this many times.
Oh, that's cool then. I think i miss this moment or im just was unobservant
. So, they have a different,
specific approach for every problem it is quite admirable! Can you, please, repeat for me way to solve
some of this problem's? If it's not burdensome for you.
Don't worry its fine, i'm glad to help. Now, about your question, so for example, let's take look at problem named "Hardware Acquisition"(pretty relevant right now) and problem named "Network Outages".
Hardware Acquisition
Acquiring the hardware components for on the intended scale of the Project would normally be a large concern due to
the popularity of blockchain mining and the limited production capacity of hardware suppliers. There is extremely high
demand for this type of hardware.
• Through our network of strategic partners, we have been able to secure prioritized access to components such as
GPUs and motherboards in large quantities.
Network Outages
Outages and downtime are inevitable in any mining operating.
• Our engineers have designed a system with several redundancies to handle failures, and keep the Project running
in response to most network problems and to limit outages and downtime.