Obtaining Passive Income via Proof of Formulation
As cryptocurrencies start to spread around the world, their mining, staking, or interest rates and methods changes. Cryptocurrency enthusiasts all know that the first method for mining is the Proof of Work method developed by Satoshi Nakamoto, which is still used for many projects. Although it is the first of the consensus protocols, it is worth mentioning that the cost of this mining is quite high. Roughly speaking, Bitcoin mining currently costs the world $400,000 per hour. This very high amount of energy consumed is more than the annual electricity used by most of the world countries. As such, Bitcoin mining will be unsustainable in the long run.
Therefore, we should turn to different consensus algorithms that give more importance to the environment or green energy. Although cryptocurrencies make our lives easier, it can be quite harmful considering the harm it causes to the environment.
This is why we can turn to new algorithms developed after the Proof of Work algorithm, which use much less energy and respect the environment, and make money with them.
One of these methods is Proof of Work and Proof of Formulation. Either way, we can generate passive income in a much more efficient way by producing much less electricity without having expensive CPUs and GPUs.
Obtaining Passive Income
Cryptocurrencies offered us new opportunities to generate passive income. Just like the interest method used by banks, but slightly different. You can earn a monthly stake by keeping your coins at a certain rate locked on a particular platform. For this, you do not have to open any account in any bank. You do not have to give your accounts, how much money you have, and your credentials to a third party.
In the cryptocurrency world, you can earn anonymous income without having to rely on banks and government. After locking a certain amount of coins to the platform, you can do your favorite work, your favorite hobbies, and also get passive income.
For this, it is important which project you will invest. Invest in the platform you can invest in advance, team, whitepaper, and you can make your decision by examining the vision.
My project to make stake is Fleta.
So what is this Fleta? to introduce briefly:
Fleta aims to establish a blockchain ecosystem that aims to promote the development and operation of dApps, the same goal of setting up a platform such as Google Android or Apple IOS and to support new technological developments. In particular, this great platform, which will make Ethereum and EOS based dApps more independent and scalable, aims to create a decentralized economy. In this way, the gas and ram costs in the ecosystem will be reduced and aim to establish a less costly platform.
But why should I choose Fleta when there are many projects? One of the most suitable projects for stake making is COSMOS (Atom). The project is listed on several exchanges, including Binance, and supports the infrastructure of Binance Chain. It has thousands of PoS users all over the world.
But does that mean nothing to those who want to earn passive income? Because the monthly returns as shown in the picture below is only 1.08 for 100 Atom. So when you lock 100 Atom you will earn only 1.08 Atomic per month. Quite a low rate, isn’t it?
Let’s talk about the Fleta Staking Rewards. Fleta staking rewards account as follows…
When you delegate 100 FLETA, you may get about 1.46 FLETA as rewards including commission (MONTLY). However, please note that this is just an estimated number; the ratio of the reward may be changed according to numbers of formulators and delegators.
What is the reason why Fleta’s rewards are so high? Quite simply, first come first serve. Fletachain was founded in 2018 and has been switched to Mainnet last month. That’s why he’s hiding a hidden treasure. In addition, the patented Proof of Formulation method reduces network costs considerably. The Fleta team is proud to share this profit with its customers from network costs.
Current staking data is currently available at: https://f_portal.fleta.io/
In addition, the project launched its own web wallet on 11 August. Mobile wallet will be available on the Android and IOS platform soon.
I would also like to remind you that you can perform your staking transactions and other cryptocurrencies transactions through this wallet.