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Alpha Network – fixed cap mobile mining?

As you guys should know by now I am somewhat of a fan of mobile “mining”. Well not actually doing any real mining mostly though. These applications simply connects to their servers to sync your “mining” with the mobile application. So yes, there is no actual mining going on. And the Alpha Network [invitation code:blong1234] basically does the same thing as Pi Network or Bee network. These do not take up too much of your mobile device’s resources nor do they take up too much bandwidth. And most of them just require you to tab a button or two to get the daily rewards. For users like me who loves to fiddle with my phone, it is not at all a chore. However for anyone who just hates tapping on their mobile device, then this isn’t for you. Even though you just need to tap it once per day. And no, you are not actually mining anything on your phone. More like the application to sending information to Alpha’s own servers to “mint”.

As for the application, there is nothing special about it. The interface is a bit easier to navigate compared to Pi Network mining application however with that said, the interface is very bare. All you have is a button for you to activate the mining and an option to earn more. The earn more option basically allows you to open up “lootboxes” and to click on advertisement(s) and get either flat Alpha coin or increased mining rate. Note that the increased mining rate is only valid for the mining day. However you can significantly increase your Alpha coins this way. This can be done every 30 minutes. But if you are not interested in clicking or watching advertisements or you find it too tedious, you can just do it the normal way and get better mining rates through referrals. You still need to tab the button once every 24 hours though. All these mobile mining applications work the same way. The more referrals you have, the better rates you will get. Basically they are trying to get people interested in the network. I have linked my referral code above. However if your friends have their own code, you should use theirs. And it is a good thing as well. The more people holding Alpha coins, the more valuable it becomes. Of course once the day comes when the Alpha coins can be traded on the open market, there might also be a huge dump in the market like for nearly every token or coin out there…..

It is also interesting that Alpha Coin has a fixed cap of 500 million coins. This means that there will never be more than 500 million Alpha Coins in circulation in the market. And it seems all of the coins can only be minted via their application, which means only for the users. Does not seem to have any ICO or pre-minted coins. This is a good thing right? From the total amount of coins, we can approximate the price of Alpha coins by comparing it with other such coins in the market. One of which we do need to consider is the Pi Tokens, which is one of the pioneers. But honestly speaking, this project is still in its infancy (started somewhere in April 2021) and will probably take a while for it to grow. As for the blockchain technology it will be using? I have no idea. Even its whitepaper there is no mention of their blockchain technology at all. This is a bit worrisome as the blockchain technology should be the core.

And in the whitepaper there is a section claiming that they have Virtual Mining Nodes doing the actually mining. This sounds a bit suspicious if you ask me. Why a project like this and at this stage have “Virtual Mining Nodes” when their blockchain technology is not even available? Shouldn’t these “mining nodes” be up and running ONLY after they have their blockchain up? I mean they already have a wallet so it could be up and running already. But I find it weird that they have not announced which tech they are going for. It should actually the most important thing for a cryptocurrency right? So again I would like to remind readers never to pay for anything on such applications. You will never know that one fine day after making tons of money from their users, they decide it is enough and do a rug pull and your money is gone just like that. We don’t even know which country are the developers based in. And the whois information for their website is all completely redacted for privacy. Something which I find very disconcerting. They should not have to hide such information from their users if they are doing something legit right?

By Admin

Someone who is very keen on small scale investments like crypto, mining and other investments. For the common folk!

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