We are HONEST MINING – a company with a simple mission: building trustworthy and easy crypto mining that is accessible to everyone. We’re making cryptocurrency mining a lot easier and accessible for everyone who is interested in becoming miners. You will be able to be a part of the community through an uncomplicated process and start earning masternode rewards from the get-go. We believe that honesty is gained through transparency. HONEST TOKEN (HNST) is the native currency of HONEST MINING Platform which will be used for all transaction activities. With HNST you will be able to join masternode, get a special discount and other /usage.
We’re making cryptocurrency mining a lot easier and accessible for everyone who is interested in becoming miners. You will be able to be a part of the community through an uncomplicated process and start earning masternode rewards from the get-go. We believe that honesty is gained through transparency. This company headquartered in Singapore has been operating for at least one year in Indonesia. The plan, Honest Mining itself will conduct a soft launch in January 2019. The first Honest Mining platform mining in Indonesia will come to the surface to introduce mining and how Honest Mining works to help make it easier for people to understand mining in an easier and instant way. The Honest Mining team consists of experienced cryptocurrency and blockchain industry players who believe in decentralization. Together, achieve the mission: to build a reliable crypto mining platform that is easy to use and accessible to everyone.
4 Easy Step of Honest Mining:
- Select a Masternode
Get your crypto wallet ready and choose the masternode that you would like to invest in.
- Deposit Coins
Click the “Commit” button to deposit your crypto coins.
- Select Seats
Select the seat quantity that you plan to own.
- Earn Rewards
Watch as your masternode start receiving rewards and you get to decide whether to withdraw or reinvest.
There are risks associated with the HONEST MINING platform, the HNST TOKENS and the staked or rewarded coins (such as tokens and coins together, the “Tokens”). Some (but not all) of them are summarized below:
- New Technology.
The HONEST MINING platform and the Tokens, together with all of the features, specifications, use cases and other matters set forth in this whitepaper, are new and untested technology and may not be capable of completion, implementation or adoption according to the development roadmap laid out in this whitepaper. While HONEST MINING will make reasonable efforts to complete the platform, there may be circumstances beyond HONEST MINING’s control which could result in delays, a more limited release or in the worst case, a functioning platform may not be created at all. Even if the platform is completed, implemented and adopted, it might not function as intended and any tokens associated with the platform may not have functionality that is desirable, fit for purpose or valuable. Technology is changing rapidly and the platform and/or the Tokens associated therewith may become outdated. Although Proof-of-Stake is gaining popularity and acceptance, things may change and a new consensus mechanism may supersede Proof-of-Stake or a consensus mechanism may no longer be needed.
The HNST TOKENS are based on the Ethereum protocol. Any malfunction, forking, breakdown or abandonment of the Ethereum protocol or network may have a material adverse effect on the HNST TOKENS or the HONEST MINING platform. The successful operation of the HONEST MINING platform is contingent upon the successful operation of the various cryptocurrency networks of the Tokens staked or rewarded. Any malfunction, forking, breakdown or abandonment of the applicable cryptocurrency protocol or network (such as the Proof-of-Stake protocol not working as expected) may have a material adverse effect on the HONEST MINING platform and may result in the loss of the Tokens staked or rewarded.
- Mining Attacks
Decentralised cryptographic networks are at risk of mining attacks, such as “51% attacks”, double spending attacks, selfish mining behaviour, race condition attacks and other attempts by miners or other participants in the network to manipulate or game the protocol or network. Any successful attack presents a risk to the expected proper operation, execution and sequencing of token transactions and contract computations of the Tokens and the HONEST MINING platform. In the event of such malicious actions, a loss of the Tokens is possible.
- Software Bugs
The source code currently (or expected to be) in use for inter alia the Ethereum and the Tokens’ network and protocol, as well as the HONEST MINING platform, is wholly or partly based on open source code. Such open source code may be at greater risk of exploit by bad actors examining and seeking to find exploits within that code. Such open source code may also be updated from time to time, which may result in new and unexpected exploits. A third party or member of HONEST MINING’s team may also intentionally or unintentionally introduce weaknesses into the code base or core infrastructure of the HONEST MINING platform, which could negatively affect the HONEST MINING platform and the Tokens (including, but not limited to, the use thereof) or result in the loss of the Tokens or the loss of the ability to access or control the Tokens. In the event of such a software bug or weakness, there may be no remedy and users of the HONEST MINING platform as well as the holders of the HNST TOKENS are not guaranteed any remedy, refund or compensation.
- Theft, Misuse or Loss of Private Keys
HNST TOKENS acquired may be held in digital wallets or vaults, which requires a private key (or a combination of private keys) to access and use. Accordingly, loss of the requisite private key(s) associated with such digital wallets or vaults storing such tokens will result in the loss of such tokens, access to token balance and/or any initial balances in blockchains created by third parties. If the private keys are stolen, misused or lost, the wallets or vaults associated therewith, and any tokens stored therein, may be lost. Any third party that gains access to such private key(s) (including by gaining access to login credentials of a third party hosted wallet or vault service) may be able to misappropriate the tokens stored therein or transfer the tokens stored therein to themselves or to another person. The tokens may not be recoverable and HONEST MINING will not be responsible for any such losses. There are also risks of malware attacks, denial of service attacks, spoofing attacks and other exploits being used against legitimate users of blockchain software and cryptographic tokens. The Tokens may be subject to expropriation and/or theft. Hackers or other bad actors may attempt to interfere with the HONEST MINING platform or the Tokens in a variety of ways (including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing). Such attacks or exploits may result in private keys being stolen or the loss of the Tokens.
Although HONEST MINING aims to be decentralized, there are parts of the HONEST MINING platform that is yet to be decentralized or which are inherently unable to be decentralized. For example, HONEST MINING’s wallet system is centralized due to the nature of how masternodes work. Although the team is committed to following industry best practices, such as the OWASP Application Security Verification Standard (ASVS) and CCSC (CryptoCurrencySecurity Standard), security breaches are prevalent and we cannot guarantee that we will not be the subject of an attack or security breach. Security breaches can and will happen due to both external and internal factors.
People Behind Honest Mining
Our team consists of experienced cryptocurrency and blockchain industry players who believe in decentralization. Together, we are achieving our mission: to build a trustworthy crypto mining platform that is easy to use and accessible to everyone.
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