World Mahjong to buy digital currency mining assets, coins, masternodes
Vancouver, British Columbia, Canada-based publicly traded company World Mahjong Limited announced in a press release CoinReport received that it has entered into a definitive asset acquisition arrangement to purchase particular digital currency mining assets and specific cryptocurrency assets from Costa Rica-based leading digital currency mining and community knowledge network Avalon Life S.A.
The assets consist of a total of 27,386 ASIC mining machines, and seventy-eight masternodes of cryptocurrency dash, along with fewer masternodes of other digital currencies, and an inventory of pura, vivo and dash digital currencies. The cryptocurrencies being purchased were valued at about 109,745,619 Canadian dollars as of December 31, 2017. The replacement cost of all mining machines, together with all supplementary equipment needed to run and operate the digital currency mining machines as presently configured at their data centers, was valued at about 35,000,000 Canadian dollars.
Thanks to the acquisition, World Mahjong should be able to begin making profits at once via digital currency mining and by earning digital currency block rewards through masternodes within each cryptocurrency’s reward program, says the press release we received. Dash masternodes run a dash wallet and make decisions like coordinating mixing of coins, locking transactions with InstantSend and voting on budget funding. They are needed to have 1000 dash as collateral, a dedicated IP address and run 24 hours a day without over a one-hour connection loss. The masternodes are paid 45% of the block reward on each block, which is distributed to them one at a time. Normally, each masternode gets paid two dash every seven days.
World Mahjong also says in the release, however, that it cannot offer any surety about the future success of mining operations in any cryptocurrencies after the completion of the transaction, nor can it assure the profitability of such operations.
Dash logo courtesy of dash via PR firm Wachsman PR
While the blockchains themselves are secure, the applications running on the blockchain may not be. These applications interact with the blockchain through smart contracts, but just like any other software, bugs in the code can lead to security vulnerabilities. For this, we need to involve the auditors who conduct security audits on the smart contract. Smart Contract Audit Company helps you find hidden exploits and eventually reduce the risk and provide you an extra layer of security. Bug-free code is nice to have in other types of software, in blockchain applications, it is essential.