The concept of RWA has been proposed for a long time, focusing on traditional financial products such as real estate and bonds, but overlooking the fact that the cryptocurrency industry also has its own real assets, namely mining power.
The potential market size of mining power is extremely large, with an annual mining income of approximately $20 billion. The daily mining income can be seen on platforms such as http://data.hashrateindex.com, with a basic daily amount of $33 million after halving. The biggest difference between #BEVM and other competitors in terms of business is that its core product is actually the RWA of mining power, which tokenizes the POW mining power of cryptocurrencies such as Bitcoin/Litecoin/Dogecoin into FT/NFT tokens, and the mining income generated by the mining power is directly distributed on the #BEVM chain.
Mining power coins themselves belong to a new category of assets that can generate stable returns. In other words, buying this coin is equivalent to buying mining power and mining machines. Holding or staking the tokens can at least receive corresponding mining income from the POW assets, and additional income can be obtained by staking them in other protocols.
Advantages of BEVM in mining power RWA:
– Investment from Bitmain: #BEVM is the only BTCL2 project invested by Bitmain. The Crypto project invested by Bitmain in 2020 was #Avalanche. The previous investment before #BEVM was #BitFuFu, a listed cloud mining company.
– Technological foundation: In 2017, the BEVM team won an award at the Cosmos hackathon and learned that the Cosmos SDK does not support the Bitcoin network due to its Turing incompleteness. They then decided to challenge the Bitcoin bridge and turned to Substrate language of #DOT, and subsequently developed #ChainX as a Bitcoin layer 2 network. At that time, it hosted 100,000 Bitcoin, but later suspended due to policy and custody risks. At the end of 2021, with the use of the Bitcoin Taproot upgrade, they started developing a decentralized custody based on the Taproot upgrade of Bitcoin for cross-chain bridges. In 2023, inspired by the Inscriptions community, they launched the BitBox platform and observed the community’s activity, leading to the development of #BEVM – an EVM-compatible Bitcoin layer 2 project. Technically speaking, BEVM’s Taproot Consensus proves that it has the best and safest Bitcoin asset cross-chain custody technology, making the distribution and management of RWA mining power assets a breeze.
Measures taken by BEVM for the mining power RWA ecosystem:
– On-chain mining power leasing platform: Tokenize mining power as NFTs, users purchase and stake NFTs, and the mining income is directly distributed to the user’s EVM address. NFT represents the mining power of a specific miner, and purchasing and staking NFTs essentially involve leasing specific models for mining.
– On-chain tokenization of mining power (long-term plan): Tokenize the mining power of specific miner models at a fixed exchange rate (ERC20) and place them on the #BEVM chain. These tokens can be staked on the platform, and users can use mining power coins to participate in staking, cross-chain operations, and interactions in other protocols.
– Recruiting other mining power projects and RWA projects: BEVM is committed to becoming the largest mining power RWA platform and is actively recruiting other mining power projects and RWA projects to deploy on its platform, enriching the ecosystem and expanding market share.
