Alpha Network
Alpha
network is a revolutionary system that provides an alternative to existing
cryptocurrency models with a focus on balancing the demand and supply of the
market. The view of alpha network is to provide each player (miner) a simple,
secure, and robust experience in earning alpha coin, a next-gen digital asset.
The
mining experience is playful and straightforward making it easy for everyone
regardless of background or previous knowledge of the crypto industry to be
able to earn alpha coin just by tapping a button on their phone. The best part
of the concept is that it is entirely free to get started and mine alpha coin
(just download our app) for as long as the supply lasts (more on this below).
Don't forget to use the invitation code: arifah.
Project Phases
The project has been structured in
three phases in order to create an easy-to-understand overview of the
development plan from the team. Each phase represents a milestone for Alpha
Network and can be triggered by a specific event.
Phase
1 - Mining and Userbase (Currently here)
The first phase of the project proposes
the launch of the initial Alpha Network miner app which enables players to
start contributing to the system by earning alpha coins. This is handled for
both Android and iOS devices in a staged manner with an initial release on
Android followed by iOS. The phase continues with general improvements to the
platform until the Alpha Network Wallet app is ready for the market, which we
expect to be anywhere from 3 to 6 months.
Phase
2 – Transactions and consolidation
The Alpha Network Wallet app is
released and provides a secure system for players to make transactions, see
their balance, transaction history, and some options for investing alpha coin
for the opportunity to earn even more. These however will be revealed later on
– IT’S BIG! 😊 The phase continues until the alpha coin pool is drained
by its users.
Phase
3 – Full release, Mining closed
The physical mining node (PMN) software
is released for your computer (we expect this to take about one to two months
from when the alpha coin pool is drained). This software validates transactions
for the system to help achieve a fully decentralized system where only the full
registry of transactions is kept on the Alpha Network’s domain for transparency
purposes. The software doesn’t generate new alpha coin units but instead
provides the users that choose to install it the opportunity to participate in
the Alpha Network committee and have a say in deciding the future of the
project. At the time of the third phase, the Alpha Network miner app is closed
since the mining pool is now empty. The Wallet remains the permanent way to
utilize alpha coin in transactions and the new PC PMN software is introduced.
Further information on this phase will
be released as the time for it approaches. It all depends on the time it takes
Alpha Network to gather a big enough user base to drain the alpha coin pool.
How it works
While Alpha Network strives to use
bleeding-edge technology to optimize the network’s inner processes, everything
needs to be encapsulated in an easy-to-understand package for the user and
therefore, the current section offers an explanation to the already intuitive
features of the application.
Roles
There is currently only one role in the
Alpha Network miner app, the role of the miner (or player) which describes the
individual that uses the app in order to earn (mine) alpha coin.
Referral
The concept of referral proposes the
ability of miners to authenticate new players, since each player contributes
equally to the network’s security and stability, the person referring a new
player gets a permanent boost to their mining rate when the referred miner
states their user ID (Referral code) at the time of creating their account. The
new miner has the option to enter a referral code at the time of creating their
account. While this is not mandatory, it is advised as the new user receives 1
alpha for using a friend’s referral code.
While the number of new users an
existing one can refer is not capped(limited), the calculation for the
equivalent reward for the referring user is reflected by the formula below:
0.2 x [referred users - max 10000] +
0.01 x [referred users - anything above 10000] = [total referral rate reward]
Mining
Rate
The mining rate represents the rate at
which a player earns alpha coin on behalf of the VMNs that their device
orchestrates and is expressed as [number of alpha]/(per) [hour] which is
rewarded in its entirety after the 24H mining cycle in which it has been
earned, whenever the user connects to the application again. The rate is
divided as: ([base rate] + [referral rate] + [boost rate]) * 24 = [alpha earned
per mining cycle] Please find below the explanations for the meaning of each
element.
Base
rate
The basic reward for enforcing the
trust of the Alpha Network through the process of mining alpha coin. It is
0.5/h and every player obtains it permanently (until the alpha coin pool
drains) by creating an account.
Referral
rate
The computed, permanent bonus per hour
to the base rate can be obtained by referring new users, see the formula
above.
Lootbox
rate
Lootboxes appear every 30 minutes and
they give rewards in either coins or rates. The coins are added straight to the
balance, on the other hand, the rate only applies to the current mining cycle.
These can change or be altered in further phases of the project, refer to the
phases section for more details.
F.A.Q
·
What
is the Alpha Network app?
Alpha Network is a mobile
app that allows you to mine the AlphaCoin crypto-only by using the Internet.
It's crypto mining on your phone and we are one of the leading companies in
this new domain.
·
How
can I withdraw my coins?
Withdrawing is currently
not available but in the near future, it will be. Stay tuned and invest your
time in our app.
·
Is
the App safe?
It's 100% safe to use on
your mobile device, it just requires you to have Internet access and you can
easily create an account through Google or Facebook for extra security. We will
never try to harm your device or install other software in your system.
·
Is
this a good investment of my time?
Alpha Network targets to
become the next big thing in the world of mobile digital assets. So yes,
investing your time with Alpha might be beneficial in the future.
·
Will
my phone hardware experience any issues?
As far as we have tested
the app, your phone should do just fine with whatever hardware it has and since
it's only using the Internet, there should not be any major performance issues.
·
Can
I mine from multiple accounts?
This is strictly prohibited
and we really advise against attempting to cheat the system! In case people try to
hack the mining process, they will be permanently banned. Our automated system
checks for suspicious activity and in the event a user is flagged as
potentially fraudulent, our staff might require identity validation with an ID!
·
Will
the App mine even if I close it?
Yes, your phone only
synchronizes the mining pipeline therefore you don't need to have the app open
at all times. You can just start a mining cycle once every 24 hours and you are
all set (we highly recommend you make use of the referral and boost systems)!
When you are back in the app, our platform handles the rest.
·
Where
can I contact the Alpha Network team for questions, concerns regarding my data, and other matters?
The Alpha Network team can
be reached via the Facebook page (private messages) or at the email address:
[contact@minealpha.net].
·
How
can I delete my account?
In order to have your
account deleted, you can contact us at [contact@minealpha.net] and provide your
username (referral code), sign-in method, and a screenshot of your profile page.
An operator will handle your request.
· What's
the referral code?
Use my invitation code (arifah).
Source:
https://www.minealpha.net/ourjourney
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