Magnet Whitepaper

Abstract

ABSTRACT
Magnet is a cryptocurrency based upon the principle ideas of green mining, transparency, accessibility to everyone, strong community focus and fairness. Our network has been built to harness the full power of blockchain technology and drive forward with new, innovative ideas which fully exploit the opportunity blockchain presents

INTRODUCTION
We have designed the Magnetwork so all users can benefit from supporting and using it. We believe that mining plays a crucial role in decentralized networks. Miners are therefore generously rewarded for their effort. However, given the increasing concerns over the extreme energy levels being consumed by blockchain networks, we believe it is important to seek new means of cryptocurrency mining.

We are actively carrying out extensive research into renewable energies and how these might be used efficiently in the mining process. We are building a platform to offer investment into renewable energy mining.

Our network is further decentralized and strengthened through masternodes, which reward users fifty percent (50%) of the generated mining rewards. Finally, all users are also rewarded through proof of staking.

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Magnet Whitepaper

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