The company in Cluj estimates that it will issue between 500 and 1000 crypto mining certificates this year. These will be issued for its own customers in Romania, where the number of crypto miners is estimated at 10,000 companies and individuals, as well as for its customers in the European Economic Area.
Cryptocurrency mining is the process of creating new tokens by solving algorithmic problems. This includes computing systems equipped with specialized hardware competing with each other to solve complex mathematical equations. Depending on the type of mining, miners receive a reward for solving a math problem. For example, in the case of Bitcoin mining, the first computer to find the solution to the problem receives the next block of bitcoins and the process begins again. The mining process also validates and confirms transactions in the cryptocurrency’s blockchain, consequently miners are a key component for maintaining a “proof of work” blockchain network.
By issuing crypto mining certificates, Tradesilvania aims to help the mining community, streamline its processes and integrate the investor community with the mining community. At the same time, the certificates are designed to help the relationship between the miners and the traditional financial system. Thus, the certificate and its annexes establish without any doubt that a certain amount of cryptocurrency has been mined for a certain period of time, and the transaction of collection in the customer’s bank account comes from the mining activity.
“We believe in a crypto secured ecosystem development, that is transparent, trusted and understood by all participants in this market. By issuing the certificate, we are strengthening the company’s mission to easily and transparently “translate” key technical elements from the crypto digital blockchain ecosystem into the classic financial system. If the clients want to clarify the source of the funds from the mining activity in relation to anyone, whether it’s banks, collaborators, or institutions, they can now do this”, stated Răzvan Moldovan (image left), Co-Founder Tradesilvania.
To certify the crypto mining activity, Tradesilvania has developed a procedure that allows the certification and validation of the mining activity, which includes identification of the mining user, certification of the mining activity, establishing the link between user and it’s activity and confirmation of the amount mined over a certain well defined period of time.
The first step is for the user to register on the Tradesilvania.com platform, which is the basis for a close collaboration between the platform and the miner in order to start the activity certification process.