Are you interested in news about mining and new companies which are trying to take mining to new levels? Then you would probably like to know more about the company that we are going to review today, Chariot.
What is Chariot?
Chariot is a new mining company which describes itself as the “future of mining”. Basically, this is a mining platform which uses a certain technology based on the Ethereum blockchain using smart contracts to allow mining investors to control the profitability of their mining and receive better results.
This service uses a unique system which is able to combine the best principles of the decentralized model, like the remote surveillance, tokenization, escrow agents and voting by using smart contracts with a profitable way for each miner to make its profit.
This company was created by a team of anonymous developers known only as Alpha, Beta, Gamma and Delta. The team is mostly based in Europe but there is no information about the main creator of the company or about where he lives.
How does Chariot work?
Basically, Chariot is a decentralized mining platform in which the miners mine coins for third parties and earn a substantial profit. All the work can be monitored via the platform.
The platform uses TOM tokens as a currency. You will only be able to buy “mining equipment” by buying them using the TOM tokens. You can also vote for the escrow agent for your transactions using this platform if you want.
The company states that Chariot is better than many other companies like BitShares, ANTProtocol, Blockchain Capital and Hashflare because it enables many more options than they do. For instance, the company offers a level of anonymity that these other companies do not, more transparency about the processes that happen during the mining and has its own blockchain technology, unlike Hashflare, which does not.
Chariot has an additional tool called the Reserve Investment Fund (RIF). It is a useful tool to minimize risks because the fund is replenished with time using funds from the mining data centers and it can work as a security for the miners-investors.
From time to time, as a promotional effort, the Chariot company promotes lotteries for the miners in which the tokens (or other material assets like fiat currency) are distributed. The lottery is conducted via an online broadcast which selects the winners randomly.
The company will continue its development during 2018 by extending its mining activities and developing its platform further.
How to invest in Chariot?
Are you interested in investing in Chariot? The company is having an Initial Coin Offering (ICO) right now in which you can buy TOM tokens, which can be used for buying mining equipment from the company. The sale is already happening and it will last until March 7. over.
The Chariot Verdict
Is Chariot a good option for you? Hardly, unless you are a miner. As the tokens from this company are primarily for buying mining equipment and for using the platform to get more tokens, the tokens will not be really valuable unless you are really interested in using the platform.
On the other hand, if you are a miner, then it could be a better idea to learn more about this company and about how it works because it might be profitable for you to be a part of the Chariot company. There are people getting a good profit from this company, so why not be one of them?
Think well and decide. The choice is all yours. We do not necessarily recommend Chariot as the better platform for you right now, but it is far from being the worst choice that you can make if you are a miner, so you can surely invest in it if you want.