Mining Fundmeans a Bitbon System[i] component whose Assets[i] are designated exclusively in Bitbons[i] and are formed from the sources that do not contradict the Bitbon System Public Contract[i]. The Mining Fund’s objective is to provide a mechanism, which allows accumulating received Bitbons and distributing remuneration among the Bitbon System Miners[i] based on the mining method(s) chosen by each Miner, in accordance with Clause 49[i] of the Bitbon System Public Contract.
This agreement identifies tasks and objectives of the Bitbon System, determines and establishes the basis for its development as well as stipulates a set of basic terms and conditions, fulfillment of which is mandatory for all Bitbon System Participants.
The Bitbon System foresees two mining methods:
- Consensus building mining. In order to participate in consensus building in the Bitbon System, the Miner allocates a certain amount of his/her Bitbons. The Miner’s remuneration is determined based on the amount of allocated Bitbons and the degree of participation in the process of organizing the Miner Community in accordance with the Appendix “Mining in the Bitbon System”, which is an integral part hereof.
- Infrastructure building mining. In order to provide infrastructure of the Bitbon System, the Miner allocates his/her resources. The amount of remuneration received by each Miner depends on technical properties and characteristics of the resources provided by the Miner, including the quality and speed of the Internet channel, CPU time and the amount of memory for long-term data storage, in accordance with the Appendix “Mining in the Bitbon System”, which is an integral part hereof.
The remuneration for mining is allocated from the Mining Fund and is distributed among the Bitbon System Miners based on the quantity and quality of the resources utilized by each Bitbon System Miner individually.