With the lack of stamina of the Chia network, investors and miners began to gradually lose their patience. Therefore, this gap was quickly filled in the market. Dozens of Chia fork projects were born one after another. With the launch of the fork, many miners found that they did not change the essential flaws of Chia, but blindly forked, and did not have their own clear plan and ecological development route.
But in these projects, there is still one potential, that is Silicoin, which has upgraded the consensus mechanism based on Chia, and has greatly improved the overall ecosystem, allowing the economy to form a closed loop, thereby changing the biggest shortcoming of Chia : “Keep Dumping”
Why Silicoin is most worthy of participation？
Among the many projects that support Chia dual mining, how to find the project that can make your return the fastest has always been the heart of many miners, because many projects are the same as Chia, there is no economic model, no token demand, if there is no demand for tokens , Naturally, no one continues to take over, and the ecology is even more impossible to develop, so that you can only follow the boss to crash, and return to the original is nowhere in sight.
The emergence of Silicoin directly broke this deadlock. Silicoin carefully studied the reasons for the decline of Chia’s ecology. Whether it is Chia or other forks, it only has a simple green mining concept, but the concept alone is far from enough. How can it last without corresponding ecology and demand around tokens? Simply put, the tokens of these projects have no value at all, so no matter how to support dual mining and multiple mining, it will be futile, because it will only go down all the way.
Silicoin therefore created an ecological mechanism to increase the value of tokens and reduce the circulation of tokens, so that the project can develop in the long-term, and also allow the miners who previously participated in Chia to pay back faster. The core of this mechanism is the dynamic staking mechanism.
Silicoin’s Staking mechanism is introduced in detail. You can check it on the official website. Simply put, it allows users to pledge tokens for mining. The more pledged, the higher the probability of block explosion, so the higher the profit will be, which will greatly reduce the market. Selling pressure will increase the demand for tokens, but Silicoin will not force miners to pledge, so that it will be fairer for all miners, and the miners can dynamically balance market demand by themselves.
Needless to say, the benefits of staking. For large miners, staking more tokens means higher profits, but many small miners do not have so many resources, so non-mandatory staking farming also encourages small and medium miners to have the power of the entire network. Contribute, because under the model of staking mechanism, the overall ecology can avoid the centralization problem caused by the monopoly of resources and funds, so when small miners do not have a certain amount of computing power, there is actually no need to pledge Farming, and more will choose The pledge should be big miners, which is also the basis of overall ecological fairness.
Under this whole set of mechanisms, small and medium miners can choose not to pledge but can still join the ecology with a low threshold, contributing to a more decentralized and fair network, and at the same time restricting large miners from excessive development and forming a monopoly; Large households will buy more SITs for faster return of their costs, and the high demand will ensure the healthy development of the market, so as not to harm the interests of small and medium miners, so the entire ecology of large and small miners checks and balances each other under this pledge mechanism , Has the potential for long-term development.
In addition, Silicoin also realizes the entire network circulation control of the token output according to its unique mechanism, so SIT can always maintain a low inflation level, and the demand for SIT caused by the staking mechanism increases, so here Under the escort of the entire ecological model, no other project can compete with it.
Looking at dozens of Chia fork projects on the market, none of the projects except Silicoin are truly innovative. It can be said that they are just an effect. Silicoin has not only innovated in the consensus mechanism, but the most important thing is to build the overall economic model into a closed loop, control the circulation of the entire network, maintain long-term low inflation, and a perfect staking mechanism, which has resulted in a strong increase in user demand for SIT. , Which also allows users to greatly increase their confidence in the future of the project, and allows the entire ecology to achieve a long-term sustainable development balance.
So it is not difficult for us to conclude that apart from Silicoin, no other Chia fork project is worth participating in.