The number of blockchain technologies has skyrocketed in the past couple of years and we see no end to the trend. In fact, even though the market is currently in a bit of a downtrend, we see more and more blockchain technologies being offered to eager cryptocurrency investors. But for the most part, even though each cryptocurrency has its own spin on a problem they want to solve, not many of the available cryptocurrencies available are environmentally friendly. This is why Foleum is currently one of the most interesting investment opportunities in the market.
In its core, Foleum intends to offer data center services, however, while doing so, utilizing a hybrid of wind and solar power to power their data centers. According to their whitepaper, not only is this an advantage in terms of appeal but in the long run, this could potentially also be a lot cheaper and generate more revenue over a shorter period of time.
The interesting part of Foleum is that they will be offering custom made miners that you will be able to buy and use to mine Foleum. They have already begun working with major producers of graphics cards in order to custom make their own power-saving GPUs that will power their miners. Something that is almost unheard of in the cryptocurrency space.
Making Mining A Whole Lot More Profitable
Not only will you be able to mine cryptocurrencies through their custom-made Foleum data centers but you will also be able to use their highly-advanced mining technology which is best described in their own words.
“The Project’s data centers are being designed to be able to accommodate any ASIC and GPU-based servers. Although the Project will be capable of mining all scalable blockchains, the decision as to what blockchain to mine will be made by software algorithms, which helps to choose the best options available by seeking to identify and mine the most profitable blockchains.”
Continuing their good-vibe streak of using renewable energy sources to power their data centers, they will also donate 1% of their profits to various charities. So, while using their services you will also contribute to the good of the world.
Financing The Foleum Project – An Interesting Approach
To finance the entire project Foleum will launch an Initial Crystal Offering (in total, there will be 300,000,000 Foleum Crystals available) to certain investors which they will convert into an Initial Public Offering (or “IPO”), in which Foleum is selling (FOL) Foleum mining crystals a security crystal (or “token”), pursuant to Simple Agreements for Future Tokens between Foleum and the investors.
Foleum is also working on offering a mini-initial public offering which would open up the project for the public.
Crystal holders can expect to receive 60% of the daily mining profits from cryptocurrencies like ETH, BTC, ZEC, and others. From what I can gather from their whitepaper, it depends on the currently most profitable mining opportunity.
Foleum Partnerships – The Future And Beyond
The team behind Foleum, 9 members strong plus 6 advisors, has partnered up with some really interesting collaborations. Some of these are:
- WindStream Technologies
- IdentityMind Global
Most recently, Foleum has partnered with Nexus to power their blockchain technology. A collaboration that could very well ignite the cryptocurrency space into choosing more renewable energy produced by Foleum.
No Contracts – Just Foleum Crystals
Another aspect of Foleum that I personally really like is their approach to work together with their community. Foleum will not lock you into a contract in order to receive daily profits. All you really need is to hold Foleum Crystals and you are entitled to your share of the profits. Simple, straightforward and easy to understand.
As with any conventional mining farm that you can invest in, Foleum will take care of everything behind the scenes and all you need to do is to get your Foleum crystals, hold them and earn daily profits.
Foleum – Conclusion
In all, understanding the Foleum blockchain technology is easy even though there are complex mechanics involved, such as hybrid wind and solar power and energy-saving partnerships.
Their whitepaper statement is clear, they intend to create one of the most profitable mining farms available and they will offer it to their community of Foleum Crystal holders to make daily profits. While doing so they will also give a share of the profits to charities.
Holding Foleum Crystals you will also have a say in the operation of the endeavor (influence depends on the number of Foleum Crystals you hold I believe).
For more information about this new and exciting way of mining cryptocurrencies, please have a look at the official Foleum website. There are plenty of information available to you there.
If you are interested in even more cryptocurrency-related articles and information from us here at Bit Rebels then we have a lot to choose from.