What Is HashRental?
Hashrental is a new online marketplace that connects sellers of hash strings with the buyers who need the hashing power. The selling and connection is done via smart contracts on a decentralized network where the escrow takes place.
It offers some of the most convenient and simple to figure out tools you’ll find on any cryptocurrency market. Anyone who wants to participate in the process and wants to create as much profit as possible will be able to do so.
They started the company in regard to the last of the largest cryptocurrency mining markets being hacked late last year in 2017. The result of the hack left users with a lost of $60 million USD. So the people at HashRental decided they would make a system to help make it safer for users.
How HashRental Rent Decentralized Hashing Power Works
The existing problem on other marketplaces is they operate on a centralized service. This is one of the biggest weaknesses for these marketplaces. Centralized systems are easy for hackers to break into and corrupt or steal from, which is what happened with the previous example spoken of in 2017.
- The solution they made is that they’ve created the first of the decentralized hashing power marketplaces. The solutions they offer are what separates them from others:
- The company has a working MVP. $544000 has already been paid to the participants in tokens.
- Luhn coin is backed by a powerful mining operation that is equivalent to the price of one hour of hashing power rent.
- They guarantee that investors will get a 220-500% return in June of 2018 alone.
- The operation is run on the first decentralized hashing power marketplace there is.
- You can contribute to the success of the platform at the company website.
Sellers will love the software because HashRental software is easy to use for anyone and can power from several smart devices without any worry, the hashing power is essentially done automatically. Also, the sellers get paid in ETH for renting smart contracts after they confirm. Lastly, for the pools, smart contracts get paid in ETH for them as well. All of it is done automatically and the process doesn’t take a complex set of skills to operate effectively. No technical skills are needed and prices for renting miners varies depending on the current average of each minute.
Buyers get it just as good, since they can mine what they actually want to mine. They just select a pool and set the needed power of hashing as well as the ordered time period. You can then place a set number of coins in the smart contract and this in turn will produce a proof o funds method of security for the user.
Nothing is paid out until the smart contract is validated 100%. The smart contracts basically protect the users from being taken advantage of, and the contracts will be adapted in the future to operate based on the reputation of the user.
HashRental Luhn Coin ICO Details
The token is named after Hans Peter Luhn, the scientist who first invented and used the hashing algorithm. The ERC 20 token is the base platform that everything is functioning on, Luhn Coin is an Ethereum based token. The ICO will be held on May 18 – June 18, 2018. There is a total supply of 1,000,000,000 LUHN to be distributed with purchase methods being accepted in ETH.
Who Is Behind HashRental?
They are backed by several investors like Soros Hedge Fund Management and under negotiation with other hedge funds and venture capital funds, as well as private investors. The team is headed by Ian Edwards, one of the co-founders with a complete LinkedIn profile and Facebook Profile. Janice Hopkins is the CDO and co-founder with the same social media accounts as the rest of the people. They are the head of a team of more than seven other people on the system.
Basically, Hashrental marketplace is a decentralized network where buyers and sellers of hashing power can connect and operate via smart contracts using escrow. It’s one of the easier to use sites, developed for convenience and easy to use tools for all participants on the different crypto markets, so they can create as much profit as possible.
You can contact them via email and they do have their actual address, which is a very good sign. The website for the company is Hashrental.io, they have all the needed information on the website you can imagine, to use to make a decision if you want to invest with them or not.