BERKELEY, California, April 12, 2019 /CNW/ -- The Swiss Shakti Foundation issued today a note of caution to the public announcing there is no imminent initial coin offering (ICO) of Shakti Coins. Early adopters should not be fooled by any individuals or entities claiming to have access to Shakti Coins for purchase. Shakti Coins can only be mined. Therefore, no coins are available to be purchased from anyone.
The registration to mine the Shakti Coins will be opened on a country-by-country basis in the days to come. A limited number of power mining licenses will be available to active miners in proportion to population. For instance, India, China and the U.S. will have equivalent numbers of power miners in proportion to their population and made available on a first-come, first-serve-basis.
ShaktiCoin encourages the enthusiasm surrounding Shakti Coins but wants to encourage everyone to pay attention to the details and avoid purchasing fake coins.
The Shakti ecosystem is engineered to hold a stable value of USD 5.00. Therefore, there is no possibility or opportunity for pump and dump plotters.
Distributed Mining Ownership
The Shakti Network will always be 100 percent owned and operated by the public. Any person or entity can participate as a node operator (miner) of the Shakti Network. The Shakti Foundation has preserved Satoshi's singular mandate of inserting ownership within the hands of the node operators. The mining of Shakti Coin is democratically distributed across the world and reinforced by node operation at the rate of one node license for a natural person. The Berkeley, Calif. office has the mandate to achieve regulatory compliance and ensure fair allocation of nodes (miners) worldwide.
The PoE protocol replaces Bitcoin's power-hungry protocol without compromising on security. For example, a computer dedicated to mine Shakti Coin with T400 Power Mining license would consume about the same power as an email server, yet potentially capable of producing a projected mining income of USD $10,000++ per month in equivalent value in SXE within 18 months.
Only www.shakticoin.com can distribute Mining licenses. Please be aware of phishing email invites or fake websites with "close enough" URLs (ex: twtter.com). This sort of thing has become common, so we urge potential miners to pay attention to the details.
Mining of Shakti Coin will be limited, especially at the outset. The number of mining slots available will grow with the network. Right now, the Shakti ecosystem will only accept a handful of Power miners on a first-come-first-serve basis.
The Shakti project is an international grassroots initiative that exists independent of any affiliation with industry, government, religion or political party. The Swiss Shakti Foundation is a public benefit organization based in Zug, Switzerland tasked to provide impartial oversight of the Shakti ecosystem.