To build and scale a private network, it is important to ensure a robust and uniform network coverage area. The two important factors for uniform network coverage are:
- 1.Location of Ion miners and
- 2.Radius of coverage area by every Ion miners
We figured that some of the common problems faced by other networks is that too many people are fighting for the same piece of the pie. So we decided to simplify this in a way where participants are entitled to their fair share of rewards.
How did we solve this problem? We defined the coverage area of a miner and were conscious not to include another miner within the same radius. Since two miners competing for network area within the same radius creates network congestion, we created exclusive radii in different locations. Miners are then placed within this defined radius.
Now the question arises - a) how will one participate if we have already defined the radius in different regions and there is already a miner? b) Can a person own more than one miner in this scenario?
Well we have a proper solution for this too. We are building a truly decentralized private network where literally anyone can be a participant. We are building an Airbnb-like platform where people living in our defined radius who show willingness to host a miner or someone else and get rewarded for hosting it. He/she will list their location and we will take care of the rest. While on the other side, a miner on the nitro network can purchase as many miners he/she wants and we will find a location for his/her miners to be installed. No matter where the miners are being hosted, miners will keep earning rewards and can track the earnings using the Nitro miner portal.
This way, we will always maintain the equilibrium of supply (location for hosts) and demand (Nitro ION miners) by ensuring uniform coverage area. The most crucial part is by doing so, each miner will enjoy maximum earning through mining rewards as there will be less competition among Nitro Ion miners for rewards.
This will allow us to occupy more coverage area with fewer miners. Not only this, by doing so we will be able to build a truly decentralized private network where people not only mine on the network but also facilitate the hosting of a miner for someone else by renting out their utilized space and monetizing the same.