IAGON Partners With Bancor Protocol to Facilitate Mining Liquidation Of Tokens
IAGON (IAG) has recently announced a strategic partnership with Swiss-based Bancor protocol to facilitate the way miners liquidate their mining profitability.
Bancor is a blockchain powered protocol that lets users exchange cryptocurrencies peer to peer without the need of a centralized exchange. This platform offers a network of lower tier cryptocurrencies easy liquidity due to its lack of consistent supply/demand in bigger exchanges. Built under Ethereums ERC20 token standard, it uses smart contracts to finalize secured trades between individuals.
IAGON is a platform for harnessing the storage capacities and processing power of multiple smart devices over a decentralized Blockchain grid, has announced their integration of the Bancor Protocol in efforts to provide continuous liquidity for the IAGON platform. (Phillip Nun).
One of the biggest problems for miners mining newly minted ICOs or unknown tokens is the lack of liquidity. The integration will ensure that miners will be able to liquidate their tokens and have continuous access to trading partners.
Navjit Dhaliwal, IAGON CEO commented:
“We aim to become the world’s largest and most secure provider of decentralized cloud computing services and technology, and the immense demand for IAGON (IAG) tokens continues to grow, integrating with Bancor is going to ensure that our users have quick and easy ways to convert their tokens and will provide the liquidity that everyone desires as we continue to disrupt the industry and develop an optimal platform.”
It has become a recent trend to mine new ICOs and lower tier tokens due to its profitability and lower competition. ASIC miners have saturated Bitcoins competition making it almost impossible to have a profitable mining rig with just a few GPUs. Cryptocurrencies such as Vertcoin are creating an anti-ASIC mining ecosystem to make the mining game fairer for everyone. If you are looking for a less competitive mining scene, ICOs and lower tier token can make sense, but liquidity used to be the biggest issue. With this partnership, ti could make sense to take your mining computing power elsewhere.
Which cryptocurrency are you currently mining?