MINING 2018-02-05T13:40:38+00:00

ABOUT 4NEW

Everyday, crypto-mining makes a profit by finding and verifying blockchain transactions. However, due to mining requirements, the process is leaving a huge carbon footprint, one that is much worse than originally expected. As of January 31 2018, Bitcoin energy mining costs have surpassed the energy consumption by the entire country of Iraq.

THE 4NEW PROJECT IS THE FIRST EVER ECO-FRIENDLY BLOCKCHAIN SOLUTION THAT TURNS WASTE INTO ENERGY. BY REFINING WASTE PRODUCTS INTO WATER AND ORGANIC MATERIALS, 4NEW CAN CREATE ENERGY THAT IS SUBSEQUENTLY SOLD TO THE NATIONAL GRID OR APPLIED TO ITS OWN PROPRIETARY ECO-FRIENDLY MINING FARM.

The cost to produce this energy is negated through the revenue from a variety of 4NEW services, including:

WASTE
COLLECTION
SERVICES

SALE
OF
BYPRODUCTS

ADMINISTRATIVE
AND FACILITATION
FEES

MINING
FARM
OPERATIONS

The medium that makes all of this possible is 4NEW’s coin, KWATT. Each coin embodies 1 kW of electricity per annum. KWATT coin holders actively store energy through their coins and can use their energy in one of two ways: selling their energy to the National Grid or applying it towards 4NEW’s proprietary mining farm. Either way, coin holders benefit and energy is used efficiently.

The team has already identified two plant sites in the UK (Sheffield and Dreffield) that will serve as the base of operations. Each plant will eventually have the capacity to produce approximately 40 megawatts per hour, enough energy to power 40,000 households for a day every hour. The management team has pledged to devote 35% of annual profits towards constructing additional plants, which will enable the business to scale for the long term.

4NEW forecasts revenue of roughly USD $100 million annually, resulting in a profound impact towards dramatically reducing blockchain’s increasing carbon footprint.

MINING

Mining costs a set fee. The fee is inflation adjusted and will never change over the lifetime of the plant. This will standardize transaction fees during periods of heavy traffic. Token holders will be able to mine all cryptocurrencies without having to worry about fluctuating energy bills caused by cryptocurrency price spikes.

The Mining Capacity Of A KWATT Coin

We understand that one hash today may represent half the mining power a month from now. To combat this, KWATT Coin mining capacity is pegged to the 4NEW energy output capacity, rather than a fixed mathematical rate. This allows 4NEW to expand their mining capacity to match competitive rates on the network.

This rate of exponential expansion serves as a predetermined reinvestment strategy for funds received through 4NEW’s mining portfolio. It will supplement profits from the other revenue streams. This model guarantees the longevity of free energy and competitive mining practices.

Miner Portfolio Customization

Users can decide which cryptocurrencies they want to mine with their KWATT Coin power. They will have access to the top twenty minable coins. The configuration will automatically determine the necessary hash rate for the particular coin, and the reward will be credited to the account connected to a 4NEW Wallet.

Proof-Of-Work And Proof-Of-Stake Mining

Ethereum has recently taken steps towards implementing a Proof-of-Stake system. Full implementation will be complete within the next several years. Other networks, however, will still use the Proof-of-Work protocol for years to come. For this reason, precautionary steps must be taken to reduce the economic and environmental effects of Proof-of-Work mining. Our mission is to lead this effort through the 4NEW platform.

This document and any other 4NEW documents do not constitute a prospectus of any sort and are not a solicitation for investment. The KWATT Coin does not represent an ownership or share in ANY public or private corporation, or other entity in any jurisdiction. Acquisitions of 4NEW through the initial coin offering are non-refundable. KWATT Coins are only to be used in connection with 4NEW goods and services within its ecosystem only. Any acquisition and use of KWATT Coins carries significant financial risk, including the use of experimental software.