SWATM – The Green Mining Token

 SWATM – The Green Mining Token

Using traditional energy sources to mine POW Crypto currencies such as BTC, ETH, LTC, DOGE, etc., has been an area of concern quite some time now. Bitcoin is the biggest culprit in this area since it guzzles approximately the same amount of electricity consumed by an entire country such as Malaysia or Sweden for its existence.  In addition to this, as mentioned by us several times earlier, BTC/ETH mining and the benefits of Block Chain Technology has always been out of the reach of the common man and will apparently remain this way in spite of the efforts made by several block chain projects over the past few years. 

During the early stages of its existence Bitcoin was used mainly on the silk route for illegal transactions to avoid the scrutiny of any regulatory framework. Today, after ten years, BTC has become legal tender in several countries and there are exchange traded funds (ETF) with regulatory approval that have BTC as the underlying asset, which was unthinkable even a couple of years ago. In spite of this growth and widespread acceptance Bitcoin still remains merely a speculational junk asset and guzzles giga watts of power for its sustenance. Speculators, Rich Investment Bankers, High Net worth Individuals, Mining Equipment Manufacturers, Pool Operators and the likes, scratch each others’ backs and benefit at the cost of the innocent individual retail investor, who is lured into this vortex hoping to make some quick money. The truth is the small investor will always end up losing money.

Ethereum on the other hand has more use cases in comparison to Bitcoin. Yet the fact remains that the speculative price increase of ETH is funded secretly by the existing artificial demand for Graphics Cards and the atrocious black market prices of GPUs that are prevailing currently, aided by the blatant support of the chip manufacturers Nvidia and AMD. Not to be left out of this huge profit opportunity, Intel too is jumping into the game with its Intel Arc Alchemist GPUs. Vested interests have made sure that POW ETH mining will continue to operate by postponing the date of the Difficulty Bomb on the Ethereum network to the mid of 2022 and there is a consensus among most of the industry analysts that this date will get postponed further when the time approaches. It is an established fact that in several markets GPU purchases for mining far exceeds those for gaming, streaming, machine learning and video rendering for which the cards were actually created for.

This being the situation we launched SWAT in 2018 using the ERC20 token route to provide a solution to these problems thereby delivering a remedy to this situation. We are proud to say that we succeeded since we got the technology, price & ease of use perfectly right and made it accessible and affordable to everyone.

More to follow...

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