One of the criticisms the Neptune blockchain has received is that it’s hard for mining pools to distribute the timelocked funds, and that this leads to a centralized coin distribution, with the mining pools sitting on too large amounts for too long.
To address this problem, the founders of Neptune are collaborating with Qubite International which is a Dubai-based mining company. Their business model is to sell hosted mining solutions for various blockchains, including Neptune. But they have committed to also support the Neptune blockchain in a wider sense: making a Neptune-related website; developing a block explorer; and, last but not least, developing a mining pool that distributes the time-locked mining rewards to its users.
The mining pool is still under development but the hosted mining solution is already being spun up. It’s our hope that their mining pool will set the precedent of the immediate distribution of timelocked funds making other mining pools follow this policy.
I’m excited about this collaboration, as Qubite International seems competent from both a technical and business perspective, and because they clearly see the long-term potential this blockchain offers.
It’s worth repeating: Neptune is a permissionless protocol, and everyone can start mining, with or without our or Qubite’s help. Qubite International are not getting any benefits from the developers on the consensus-level.
Links
The hosted mining solutions are sold from nptmining.com which also acts as the Neptune-related website. And the mining pool will hosted on neptunemining.com. At the time of writing, the latter website is not yet launched.