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Dubai is set to host the world’s first blockchain loyalty program with the launch of Loyyal, an umbrella scheme aimed at uniting many rewards programs under one banner.
In concert with the Dubai national government, Loyyal will use an “unbundled” blockchain to provide value transfer between loyalty scheme participants. This project hopes to unite Dubai’s many existing schemes under one roof. In doing so, the company will create a network concept known as the “Internet of Loyalty.”
“Loyyal is a universal platform built for the loyalty rewards industry on blockchain and smart contract technology,” Loyyal CEO Gregory Simon said in an interview with PYMNTS.com. “We are applying the blockchain technology to pull together the entire loyalty industry, which is highly fragmented for the government of Dubai.”
Loyyal has been given the blessing of the government, which is actively involved in blockchain research itself. Earlier this year, it formed the Global Blockchain Council, which aimed to explore possibilities for blockchain technology usage across Dubai’s infrastructure, in both “financial and non-financial” sectors.
Simon suggested an umbrella loyalty scheme to attract tourists to culturally important sites, as well as a longer-term goal of including incentives for local residents. Points earned while visiting museums and other attractions can be spent with various partners, allowing users to bypass the difficulties posed by the current patchwork of multiple private schemes.
“The consumer downloads a wallet or the embedded wallet within the app or the point of sale device, and the points issuer gives permission for the specific wallet to do what has been agreed,” Simon continued. “The points issuer retains complete control over everything.”
Loyyal will not attempt to run off a full blockchain, Bitcoin or otherwise. Instead, the program will harness smart contract capabilities in its own “attracted value consensus protocol,” or ABCD.
Blockchain to Play a Role in Future Dubai Growth?
Dubai finds itself at the center of a Middle Eastern optimism set to provide an ideal environment for fintech in the next few years and beyond.
A report by consultants Booze Allen Hamilton earlier this month highlighted the “rapid changes” afoot in the Middle East and North Africa, noting blockchain’s potential to “help remove the security concerns often raised by organizations to justify their unwillingness to reveal information, while encouraging the adoption of data-sharing incentives and fostering a community-based ecosystem that can determine the value of data over time.”
Dubai’s GDP, meanwhile, is forecast to grow by $5.5 billion by 2018 from what the report calls “digitization.”
What do you think about the Internet of Loyalty and the Dubai government’s ideas? Let us know in the comments section below!
Avand in vedere ca economia moderna se digitalizeaza tot mai mult, a ajuns sa se solicite tot mai multa energie electrica. Peter Kelly – Detwiler, co-fondator al Northbridge Energy Partners, LLC, o firma de consultanta care ajuta companiile sa se conecteze in mod activ la retelele de energie electrica, a examinat impactul pe care extinderea criptomonedelor il are asupra consumului de energie intr-un articol recent publicat in Forbes. El ridica problema sursei de alimentare si posibilitatea de a se limita cresterea economica a Bitcoin, ca rezultat al consumului crescut de energie.
Kelly-Detwiler a remarcat faptul ca in timp ce criptomonedele sunt eterice, ele depind de un suport foarte real in materie de energie electrica. El a remarcat ca sute de megawati de energie electrica sunt folositi pentru a produce Bitcoin, desi exista putine estimari disponibile cu privire la suma exacta.
Minerii sunt evazivi
Unul dintre motivele pentru cantitatea exacta de energie electrica utilizata pentru minatul Bitcoin este incerta este faptul ca minerii care produc Bitcoin mentin un profil scazut. Centrele miniere Bitcoin sunt mari data-centers, care sunt dispersate la nivel global. Centrele de date sunt grupate in locuri cu energie electrica ieftina.
China are cel mai mare numar de mine data-center. Cea mai mare parte a minelor din China sunt aproape de Tibet, intr-o zonă cu hidroenergie abundenta si ieftina. Minele din centrele de date exista, de asemenea, in Islanda, Malaezia, Venezuela, Republica Georgia si in alte tari.
Curentul electric poate cuprinde 90 % pana la 95 % din costurile de exploatare miniera, Kelly – Detwiler a remarcat . El a comparat aceasta energie folosita pentru calculatoare si pentru combustibil, respectiv energie electrica. Calculatoarele au chip-uri specializate, concepute pentru a rezolva probleme de matematica, folosind software-ul open source.
Cum minatul consuma energie
Minatul criptomonedelor este complex, observa Kelly-Detwiler. Un miner poate crea o moneda prin rezolvarea unor probleme matematice, care inregistreaza blocuri de tranzactionare in registrul public Bitcoin blockchain. In cazul in care un miner rezolva o problema, acestuia ii sunt atribuiti Bitcoins.
La fiecare 10 minute, tranzactiile Bitcoin (dintre care intre 150.000, pana la 250.000 apar zilnic) devin blocate si depuse intr-un singur bloc din blockchain. Calculatoarele concureaza pentru a obtine credit pentru etansarea de pe ultimul bloc din lant. Pentru a obtine acest credit, minerii trebuie sa faca milioane de incercari de a crea hash-ul cu caracteristicile necesare pentru a rezolva problema. Prin urmare, viteza este critica pentru rezolvarea problemei.
Calculatoarele speciale pot rula in intervalul “Tera-hash” un trilion de intrari pe secunda. Fiind tot mai multi mineri implicati in acest proces, este mai mare nivelul de dificultate necesar pentru a castiga credit pentru etansarea de pe ultimul bloc din lant. Acest nivel tot mai mare de dificultate este prin design conceput, in scopul de a incetini procesul de creare a Bitcoin. Dificultatea in crestere construieste nevoia de masini mai rapide, care consuma mai multa energie electrica.
Super-reteaua Bitcoin
Reuters a raportat ca reteaua de calculatoare Bitcoin este estimat a fi de 43.000 de ori mai puternica decat primele 500 de supercalculatoare din lume combinate.
Estimarile indica faptul ca, pana in 2020, mineritul Bitcoin ar putea consuma 14.000 MW de energie electrica, comparabila cu jumatate din capacitatea de generare a Angliei sau intreaga capacitate din consumul Danemarcei.
Taxa inregistrata pentru a bate o moneda, diferenta dintre valoarea nominala a banilor si costul pentru a o produce, ar putea deveni minima sau negativa, provocand viabilitatea monedei. Costurile de energie marginala ar putea depasi valoarea noului Bitcoin minat.
14.000 de megawati este o estimare pentru cel mai rau caz, bazata pe tehnologiile existente . Aceeasi sursa a remarcat faptul ca 417 megawati ar fi fezabili pentru utilizare, daca echipamentul imbunatatit inlocuieste masinile existente. Acest lucru indica faptul ca o moneda Bitcoin ar avea nevoie de 5.500 – kilowati, energie comparabila cu jumatate din consumul electric anual al unei gospodarii medii din S.U.A..