HONEST MINING Review ICO

As the challenge of Blockchain scalability continues to handicap cryptocurrencies ascension to mainstream adoption, an industry wide arms race has been launched to produce a distributed ledger capable of achieving faster transaction speeds without compromising security or decentralization. Although solutions like the Lightening Network, Raiden and Plasma currently lead the way, they still haven’t been proven to be the definitive solution for achieving true scalability.

In response to this , HONEST MINING is a company with a simple mission: building crypto mining that is reliable and easily accessible to everyone.

Evaluation of the project

HONEST MINING will try to grow the crypto mining company community further with the help of the ALEXANDRIA project — a community-supported knowledge bank about the crypto mining industry. As a long-term project, HONEST MINING understands that this is not an easy mission. There are hundreds of active blockchain projects , each of which uses its own unique approach. The team believes that the current proposal is a step closer to achieving their complex goals.

The aim of HONEST MINING is to create an online platform where everyone can easily join the master class and solve the problems described in the problem statement above.

The HONEST MINING platform was built using modern mikroservisnoy architecture. This ensures continuous and large-scale delivery and deployment of applications while increasing damaged insulation. This approach allows each team to loosely combine and focus on improving their parts, without worrying about what others might destroy.

We’re making cryptocurrency mining a lot easier and accessible for everyone who is interested in becoming miners. You will be able to be a part of the community through an uncomplicated process and start earning masternode rewards from the get-go. We believe that honesty is gained through transparency. This company headquartered in Singapore has been operating for at least one year in Indonesia. The plan, Honest Mining itself will conduct a soft launch in January 2019. The first Honest Mining platform mining in Indonesia will come to the surface to introduce mining and how Honest Mining works to help make it easier for people to understand mining in an easier and instant way. The Honest Mining team consists of experienced cryptocurrency and blockchain industry players who believe in decentralization. Together, achieve the mission: to build a reliable crypto mining platform that is easy to use and accessible to everyone.

How does Proof-of-Stake work?

In the consensus proof of ownership algorithm, miners (called validators, delegates, or forgers) are chosen or chosen randomly by the original coin holders on the network. The selected validator then risks the number of coins required using a special betting wallet. Nodes will forge or create new blocks that are proportional to the number of coins in their wallets.

There are several risks associated with the HONEST, TOKENS HNST MINING platform

New technology.

HONEST MINING Platform and Tokens, together with all features, specifications, usage cases and other matters specified in this whitepaper, are new and untested technologies and may not be completed, implemented or adopted in accordance with the development roadmap put in this whitepaper . While HONEST OIL will make reasonable efforts to complete the platform, there may be circumstances beyond HONEST OIL control that can result in delays, more limited releases or in the worst case, a functioning platform cannot be created at all. Even if the platform is complete, implemented and adopted, it may not function as intended and any tokens associated with the platform may not have the desired functionality, suitable for purpose or valuable. Technology changes rapidly and platforms and / or tokens associated with it may become obsolete. Even though Proof-of-Stake is gaining popularity and acceptance, many things can change and new consensus mechanisms can replace Proof-of-Stake or consensus mechanisms may no longer be needed.

2. The HNST TOKENS protocol is based on the Ethereum protocol. Damage, branching, damage or neglect of the Ethereum protocol or network can have adverse material effects on the HNST TOKENS platform or the HONEST GUARANTEE platform. The success of the HONEST MINING platform operation depends on the successful operation of various cryptocurrency Token networks that are at stake or valued. Any damage, forking, breakdown, or abandoning the applicable cryptocurrency protocol or network (such as the Proof-of-Stake protocol that does not function as expected) can have adverse material effects on the HONEST MINING platform and can result in loss of Tokens. at stake or valued.

3. Mining Attacks

Decentralized cryptographic networks pose a risk of mining attacks, such as “51% attacks”, multiple spending attacks, selfish mining behavior, racial conditions attacks and other efforts by miners or other participants in the network to manipulate or play protocol or network games. Every successful attack poses a risk to the expected proper operation, execution and sequencing of the token transaction and calculation of the contract from the TESTED MINING Token and platform. If such a dangerous action occurs, loss of Token is possible.

4. Software Bug

The current source code (or expected to be) is used for, among others, networks and Ethereum and Token protocols, as well as the HONEST MINING platform, wholly or partly based on open source code. Such open source code may be at greater risk of being exploited by malicious actors who examine and look for exploits in the code. Such open source code can also be updated from time to time, which can lead to new and unexpected exploits. Third parties or members of the HONEST MINING team can also intentionally or unintentionally introduce weaknesses into the code base or core infrastructure of the HONEST GUARANTEE platform, which can have a negative impact on the MINING OBJECTIVE platform and Tokens (including, but not limited to,

5. Theft, Abuse or Loss of Private Keys

The TOKENS HNST obtained can be stored in a wallet or digital safe, which requires a private key (or a combination of private keys) to access and use. Therefore, losing the required private key associated with a digital wallet or dome that stores the token will result in the loss of the token, access to the balance token and / or initial balance in the blockchains made by third parties. If the private key is stolen, misused or lost, the wallet or vault associated with it, and any tokens stored in it, may be lost. Any third party that gets access to the private key (including by gaining access to the login credentials from the wallet or third party vault services) may be able to abuse the tokens stored in it or transfer tokens stored in them for themselves or to others. Tokens may not be recoverable and HONEST MINING will not be responsible for these losses. There is also the risk of malware attacks, denial of service attacks, spoofing attacks and other exploits used against legitimate users of blockchain software and cryptographic tokens. Tokens can be subject to expropriation and / or theft. Hackers or other malicious actors can try to interfere with the HONEST MINING platform or Token in various ways (including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing). Such attacks or exploits can result in a private key being stolen or loss of Tokens. spoofing attacks and other exploits used against legitimate users of blockchain software and cryptographic tokens. Tokens can be subject to expropriation and / or theft. Hackers or other malicious actors can try to interfere with the HONEST MINING platform or Token in various ways (including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing). Such attacks or exploits can result in a private key being stolen or loss of Tokens. spoofing attacks and other exploits used against legitimate users of blockchain software and cryptographic tokens. Tokens can be subject to expropriation and / or theft. Hackers or other malicious actors can try to interfere with the HONEST MINING platform or Token in various ways (including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing). Such attacks or exploits can result in a private key being stolen or loss of Tokens. denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing). Such attacks or exploits can result in a private key being stolen or loss of Tokens. denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing). Such attacks or exploits can result in a private key being stolen or loss of Tokens.

6. Decentralization

Although HONEST MINING aims to be decentralized, there is a part of the HONEST GUARANTEE platform that has not been decentralized or which basically cannot be decentralized. For example, the HONEST OIL wallet system is centered because of the nature of how masternode works. Although the team is committed to following industry best practices, such as the OWASP Application Security Verification Standards (ASVS) and CCSC (CryptoCurrencySecurity Standard), security breaches are common and we cannot guarantee that we will not be subject to attacks or security violations. . Security violations can and will occur due to external and internal factors.