CoinEX exchange introduces Trade-driven Mining feature, is that the future of crypto mining?
From 0:00 July 1st, 2018 (UTC), CoinEx will adopt a "Trade-driven Mining" method to release 3.6 billion CET for free allocation to CoinEx users. We will calculate 100% of our transaction fee income into CET against the real-time rate and give them away to all traders proportionately to their trading volume. Rules: 1. Qualification: 1) For ID verified accounts ONLY; 2) Transactions that use CET as fees are excluded in trade-driven mining. 2. Duration: EST. 180 days in total with an EST. daily yield of 20 MILLION CET. 3. Difficulty: The upper limit of CET for hourly mining yield per account. To balance daily CET yield, CoinEx will readjust "mining difficulty" at 0:00 (UTC) every day based on earnings and difficulty of the last day. The initial mining difficulty is 50,000 i.e. the upper limit of hourly mining yield for an account on the first day is 50,000. API is available to access current difficulty. 4. Payout: Calculated and allocated at every o"clock aga...