The Elumicate Network’s aggressive goal to become the world’s largest decentralized outdoor data capture network is easier said than done, which is why we are approaching it in 3 main phases. This will allow us to build a strong and stable foundation to build upon in order to ensure the project’s success.
The first phase capitalizes on global infrastructure that has already been put in place and is freely available to the public. This allows for easy onboarding while still accumulating the valuable outdoor data we seek. Participants will mine data by running software on their local computers that will automatically connect to existing public infrastructure feeds. The number of participants able to participate and earn rewards from the public pool is limited by the number of feeds available in the pool. A mining pool NFT must be obtained in order to receive mining rewards when participating in the pool.
- Cameras are added to the public pool by the Elumicate team, no camera is needed for miners to participate.
- Miners will download and install Elumicate software and connect the software to their Metamask wallet. The software will automatically connect to a camera feed and begin capturing and digitizing events.
- Miners must purchase a public pool NFT and add it to their wallet in order to receive mining rewards. There will be a limited number of public pool NFTs minted and they can be resold in the future.
- The total public pool rewards are distributed evenly to all participants based on their individual mining uptime. Rewards received from public pool mining are not dependent on the number of captured events by device.
The second phase allows participants to setup an IP camera in their own strategic location, connect their computer to the feed, and run the capture software to begin mining data. This phase aims to accommodate most IP cameras, where higher rewards are potentially achieved from those using higher quality feeds and high spec hardware. A Private Mining NFT is required to obtain mining rewards.
- Miners set up their own individual IP cameras pointing towards a source of traffic (road) and then download and install Elumicate software that will guide them through the setup validation process on their computing device (Raspberry Pi & linux compatibility is being worked on).
- A Private Mining NFT must be added to the miner’s wallet in order to receive mining rewards. Private Mining NFTs are location dependent and the first to set up an NFT and begin mining in each location will receive a higher rate of rewards for as long as they keep mining actively.
The third and final phase introduces the All in one device, which will eliminate the need to have software installed and running on a separate computing device. The all in one device will provide a quick and easy onboarding process, be power efficient, and offer a cellular connectivity option with low bandwidth requirements for data transfers.
- Miners set up the all in one device pointing towards traffic, connect it to WiFi or cellular network and to their wallet.
- Just as in Phase 1, a private mining NFT must be added to the miner’s wallet in order to receive mining rewards. Private mining NFTs are location dependent and the first to set up an NFT and begin mining in each location will receive a higher rate of rewards for as long as they keep mining actively.
All phases of mining will have the option for miners to stake their tokens in order to receive a higher rate of rewards.
If you haven’t already joined the waitlist, we invite you to do so on our main page https://www.elumicate.com there are also links at the bottom of the page where you can follow us on Twitter, join our Discord group, or find us on Linkedin. We are happy to welcome you to our growing community!