NEW YORK, June 02, 2022 (GLOBE NEWSWIRE) -- Today, Computecoin announced a strategic partnership with Midas Wireless, a large-scale manufacturer of HNT (Helium) mining machines, to install Computecoin’s CCN mining software on Helium’s wireless machines to enable merge-mining for both communities. This will provide additional nodes to the Computecoin network by enabling approximately 10-20,000 machines per month to mine CCN and HNT simultaneously, with a projection to reach 120,000 machines in a year.
Computecoin is a decentralized cloud that powers resource-intensive applications such as Web3 and the metaverse as well as IoT, artificial intelligence, machine learning, and big data analytics. It provides low-cost and low-latency, decentralized storage and computing. Most recently, the company has announced a strategic raise of $6.2M and brought on various key advisors onto its Board, including the cofounder and Founding Architect of Salesforce and the Global Loyalty Strategy Lead of Dell.
“The partnership between Midas and Computecoin will allow us to tap into Helium’s sizable mining community, bringing tens of thousands of new miners to CCN,” stated Dr. Max Li, CEO and Co-Founder of Computecoin. “In addition, we are effectively bridging the gap between IoT and cloud computing, by having enormous data volumes produced by IoT devices, be readily accessed and stored, and ultimately be transformed into useful resources for developers and projects.”
Helium is building a decentralized, open-source wireless network–comprising over 800 thousand hotspots–that allows users, including businesses and developers, to run their solutions, devices and other assets at a lower cost, and with wider compatibility and greater scalability than today’s centralized networks. Helium users can set up hotspots to bring their area into the Helium network, and to provide network coverage for the devices in their city.
Expanding the network by adding new hotspots provides miners an opportunity to maximize the rewards they receive from mining HNT, Helium’s cryptocurrency. Similarly, by simultaneously mining both Helium (HNT) and Computecoin (CCN), miners using Midas-926 Gateway rigs preinstalled with the Computecoin mining client will be able to earn greater rewards. In addition to Helium, Computecoin supports merged mining with several other blockchains, including Filecoin, Arweave, Crust, and Swarm.
Midas Wireless manufactures high-performance Helium mining machines, which connect miners to the Helium network and allow them to earn rewards. Midas has already attained a large scale of production, with 10-20,000 machines rolling off the line each month. In its partnership with Computecoin, Midas will preinstall Computecoin’s mining client onto its Midas-926 Gateway Helium mining machines, enabling merged mining. Meanwhile, Midas stands to boost sales of their Midas-926 Gateway machines, as the advantages of merged mining with CCN and HNT will attract more miners to the product.
“We're happy that our Midas 926 Hotspot, the highest-performance HNT miner officially approved by Helium, has passed the official Cumputecoin test to support multi-mining of CCN and other cryptocurrencies. We're looking forward to collaborating on the development of computing solutions for IoT, 5G, and Web3,” stated Angus Tang, Co-founder & CEO of Midas Wireless.
Computecoin and Midas look forward to the capabilities the partnership will bring to the existing Helium community. Computecoin’s mainnet is scheduled to launch in Q3, and through strategic partnerships with manufacturers like Midas, Computecoin aims to provide the ultimate infrastructure, computing, and storage solution to support the growth of a sustainable and flourishing Web3 ecosystem.
About Computecoin
Computecoin is the next-generation infrastructure that powers Web3 and metaverse applications. Our mission is to make global, distributed computing and storage power – the fuel for the Web3 – available for everyone to easily access, use, and exchange. Computecoin network solves a critical gap in the digital asset ecosystem by allowing developers to easily deploy dApps on a decentralized infrastructure to meet the growing demand of Web3-native products. Learn more at www.computecoin.com.
About Midas Wireless
Founded by experts from China, the US, and Canada, MidasWireless focuses on IoT, 5G, and web3. Midas 926 Hotspot is a highest-performance HNT miner officially approved by Helium and is currently the first miner that has passed the official test of Cumputecoin to support the Multi-mining of CCN and other cryptos. Learn more at www.cryptomidas.io.
