APPLE PIE FINANCE: REVOLUTIONISING CRYPTO MINING
So I’m here to tell you guys about APPLE PIE FINANCE, the world’s first cross chain crypto mining pool. But before we go into APPLE PIE FINANCE lets do a quick refresher on what mining in the crypto scape means.
Mining in the world of crypto
So all new people just being introduced into the crypto world will have no idea what mining in the crypto world means, in the real world mining involves digging into the earth to remove precious materials that are needed by human beings, crypto mining is a bit different and it is dependant on the consensus mechanism that is used for the blockchain.
There are two types of consensus mechanisms used in blockchains, mainly proof of work consensus mechanism e.g. Bitcoin or Ethereum and proof of stake mechanisms e.g. Terra or Avalanche.
In a proof of work consensus mechanism, the crypto miners perform tasks, they add blocks to the block chain and for doing this they get rewarded in the form of transaction fees and new tokens minted.
The way the block chain is arranged makes it easy for any body to be a miner, add blocks to the chain, and to receive rewards, but to reduce and nearly eliminate people that have malicious intent towards the blockchain. To do this, potential miners have to solve a plethora of difficult problems that require a lot of computational power, and this is not all to guarantee being rewarded, they still have to be validated by nodes, these are people that verify the transactions in a block before they are added to the whole chain as a whole. Unlike the real world mining where you have to excavate the earth to get the precious materials (removing) in proof of work you add before you get rewarded.
In a consensus mining mechanism like proof of stake that can be found on the Terra Ecosystem, this type of mining does not require you to solve difficult and complex tasks, thereby negating the use of large computational power, therefore in this type of mining they are not called miners but are known as validators. For the validators to earn the rights to create new blocks to be added to the block chain, and thereby get rewarded what they have to do is stake a large number of the blockchains native token, there are other factors as well, but this is the main one, the more tokens you have staked, the more likely you’ll be picked as a validator. Unlike miners, validators are only paid through transaction fees and not from the minting of tokens as well.
So the ones that feel the advantage of being a miner or a moderator, are those that have large individual resources, or those that pool their resources together, which is usually the case in the crypto world.
Now that we understand what mining in the world of crypto is, let us explore how APPLE PIE FINANCE ties into this.
APPLE PIE FINANCE
We have come to the conclusion that when it comes to mining or validating, it is better to be part of a collective and pool your resources together, well with traditional crypto mining you could only choose to be a miner or a validator, basically choose one type of blockchain over the other, even though both of them have their own advantages.
What apple pie lets you do is deposit on their platform and the funds get utilised across multiple blockchains, and all of them can be managed from one place, the Apple pie finance platform. This effectively lets you enjoy the beauty of both worlds while making it super manageable.
Currently, the apple pie Protocol is able to pool in resources from users through 11 pools, PIE, BNB, BUSD, CAKE, ETH, SHIB, MATIC, AVAX, GLMR, STELLA and FTM, and distribute them across 6 blockchains Avalanche, Binance smart chain, Ethereum, Polygon, Moonbeam and the Fantom network.
The reward generation is thus;
- 12.5% on the PIE pool daily
- 10% on the other pools daily
- Accumulated yearly APR of 3,600%, and;
- 20% of Dev fee as a referral reward
Apple pie finance are trailblazers in the world of crypto mining, can’t wait to see what the future entails.
