BitMax.io Mining Features | Part 2
Bitmax.io is looking to stand out from the crowd of digital exchange platforms. There is a number that is operational. However, none is as client-focused as Bitmax.io.
Digital asset exchanges recently became very popular among digital asset users as more of these assets were made available, and their demand also increased as new traders entered the cryptocurrency and digital asset market. Bitmax.io is trying to change this narrative by using an innovative method to outshine other platforms and probably inspire them to think innovatively to provide a favorable environment for competition.
Headlining Feature
For Bitmax.io, Trans-fee-mining is its main feature and its key towards creating a distinction between its services and those of other ‘generic’ digital asset trading platforms. Trans-fee-mining is a situation whereby Bitmax.io rewards its users for transacting using their platform. Now, traditionally, exchanges are known for charging a certain amount of fees whenever a trade is being carried out. Various exchanges charge different fees depending on various factors.
Trans-fee-mining allows Bitmax.io to facilitate trading activities for their traders at what could be termed as ‘free.’ The set up used by Bitmax.io results in traders receiving tokens, BTMX tokens specifically, whenever they trade on the Bitmax.io platform. The transaction fee that is charged on the trade can be said to be refunded by Bitmax.io through the BTMX reward they give as the reward is equal in value to the transaction fee paid by the trader.
Bitmax.io, therefore, sets itself apart from the rest through this innovative new measure that is configured to attract both professional traders and newcomer traders in the digital exchange industry. This set up works regardless of the existing market conditions. Whether there is a slow down in a trade or market volatility is being experienced, Bitmax.io’s reward system still stands.
This move will also see Bitmax.io change the face of exchanges as their main aim diverts from profit-making to service provision by encouraging more traders to use their platform which has more advanced services compared to their peers. Environmentally, the approach that Bitmax.io uses makes it for a greener future as it is a method of digital mining that spends considerably less energy compared to other mining methods that are synonymous with blockchain related platforms.
Understanding Trans-fee-mining
It follows a basic principle; it credits its traders with BTMX that is equivalent to the transaction fee attached to the trade being carried out. It is a method that promotes much trading among users of Bitmax.io because of the rewards associated with it.
Additional specifications for Trans-Fee-Mining on Bitmax.io
To ensure fairness and transparency amongst traders within Bitmax.io, some rules and guidelines were drafted by Bitmax.io’s team. These determine how traders and Bitmax.io will relate regarding Trans-fee-mining. They include the following:
On mining, there are two types of Trans-fee-mining, conventional mining referred to as mining and reverse mining. Mining, as defined in these guidelines, relates to the process where a trader receives BTMX tokens after paying for transaction fees for the trade being carried out. Reverse mining is limited in use to Makers. Reverse Mining is where Bitmax.io pays traders for the transaction made in exchange for BTMX tokens of equivalent value to the transaction fees that Bitmax.io pays.
On traders, there are two categories of traders, Makers, and Takers. The difference between the two is defined by their ability to make BTMX. Makers create BTMX through mining as their orders are never filled whenever they are made. They have to get to the order book for them to be matched. Takers have their orders filled before they get to the order book thus deny the chance for mining of BTMX.
Participating in Trans-fee-mining is optional. Traders have the option of trading regularly as with other digital asset exchange platforms.
Design Considerations
Bitmax.io’s platform is designed with some crucial factors in mind. They include the following:
Token output and mining rate have to be controlled to ensure that the value of BTMX is not affected by any sudden rise or fall in mining.
Still, on BTMX’s value, there are mandatory lock-ups that are enforced where a large trade has taken place to prevent the effect of a massive influx on BTMX into the market which may affect the value of BTMX.
Trading within Bitmax.io is also designed in a manner that promotes healthy liquidity within the platform to ensure that everything runs smoothly.
Different ways have also been formulated for the use of BTMX to make them even more valuable thus traders will have a new arsenal when trading within BTMX.
Bitmax.io has even gone a step further and improved its platform such that it is faster and more streamlined thus transactions can be done in record time and orders can also be matched up fast. Bitmax.io now boasts of speeds of up to 400,000TPS which is an industry leader showing just how unique Bitmax.io is compared to its competition. More improvements are likely to come in the future. Thus traders opting should opt to use Bitmax.io over another digital exchange platform.
In order to find further information on BitMax.io’s mining features, please follow this link.
#BitMax.io #Testnet #Mining #Publictest
Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advise in any situation. Please remember to DYOR before making any decisions??
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