The importance of technology in our daily lives is undeniable. This is due to the fact that in today’s dynamic world, life without technology is meaningless. Technology, which basically refers to bringing together tools that ease creation, use and exchange of information, has a major goal of making tasks easier to execute as well as solving many mankind’s problems. As technology continues to advance and direct even more easiness in our lives, there is a need to stress how advantageous it has been to the development of block chains/ platform that is used to enhance the efficiency and security in a business organization. Through these platforms/block chains, individuals are able to trade on different currencies with a small token and huge profit just like the hashrental market system (nicehashkiller).

Hashrental is a decentralized hashing power marketplace in the blockchain technology developed by a high intellectual personal, through which sellers (miners) of hashing power are connected with buyers of the hashing power through smart contracts/decentralized escrows. This platform offers convenient and easy-to-use tools for all crypto-market participants to create as much profit as possible. Hashrental mining system and redirecting system have been tested and launched, over $544000 has already been paid to the MVP participants in crypto-currency. This platform has its own token called the ‘’LUHN COIN’’. The LUHN coin will be accepted as a payment for hashing power rent. the hashrental platform offers the safest service that is needed by the market of rent hashing power.

Crypto-currency Mining is currently consuming 0.13% of the world’s electricity output, it is growing incredibly quickly. The Crypto-Energy Consumption Index estimates consumption has increased by 29.98% over the past month. If that growth rate were to continue, and countries did not add any new power generating capacity, Cryptocurrency mining would be greater than UK electricity consumption by October 2018 (309 TWh) and also greater than US electricity consumption by July 2019 (3,913 TWh), it would also Consume all the world’s electricity by February 2020. (21,776 TWh) Global increases in electricity consumption result from an increasing existing hashing power in the world. And Miners get profit by renting hashing power more than they do from mining on common existing pools.

Take a look at the image below to see how this platform works

Sellers/miners can run the software of this platform or connect their mining hardware ( ASICS, Personal computers and smart phones) to HashRental servers (stratum ports). Through which their hashing power is forwarded automatically to the pool that the buyer has chosen for mining, then Sellers get paid in ETH for renting from smarts contracts after then confirms. Their hashing power is also forwarded automatically To the HashRental pools if there is no required volume of orders. Then Sellers get paid in ETH from HashRental pools. This is all done automatically and the process does not require complex technical skills. The price for rent is determined by the current weighted average and refreshed each minute.

Hashing power buyers Select the cryptocurrency that they want to mine, Select a pool on which they want to mine, Set the needed amount of hashing power, Set needed order of time period and Place the calculated amount of the LUHN coins into the smart contract. This provides proof-of- funds and allows for a much safer trade. Then Successfully confirms receipt of the needed amount of hashing power, and releases the escrow. A party raises a dispute, and brings in a third-party arbitrator, giving them the keys to decrypt the messages and work with both parties to make a resolution.

Get reward from the selected pool in cryptocurrency (Btc, ETH, and any other) Trade complete! The smart contract allows users to safely exchange LUHN coins = hashing power = any other crypto-currency with one another and pools, and to name a trusted third-party to mediate a trade if a dispute arises. Currently, the trusted mediator is always hashrental.io, but the contract will be adapted in the future to switch over to a reputation-based distributed arbitrator pool. The auction platform with a performance of the smart contract at HashRental is designed to offer security to both the buyer and the seller.

Take a look at the innovative structure of the hashrental marketplace

The core of the system is smart contracts that combined all parts in a single system. "Redirecting mining system" is responsible for redirecting hashing power from sellers to HashRental smart pools or to "Hashing power auto distribution". HashRental system doesn't have a centralized storage of participants balances. All payments are processed directly through smart contracts. “Management smart system” supervises the activity on launch of contracts: [1] “Payments smart system” - payments from Buyers in LUHN [2] “Hashing power smart system” - payments to Sellers in ETH. After service launched, all users can exchange LUHN coins on hashing power and get profit. See the image below.