DICE Money, a social mining protocol that supports businesses and individuals alike with their fund-raising requirements, has proudly announced the launch of its Beta Version of its Back-End Application for Trading and Mining on DICE platform. The launch marks as a significant process in the development of its revolutionary fund-raising and mining platform and now just stands one step away from releasing its system code to the public.
On launching the beta test version, Anthony Johnson, Co-Founder & CEO, DICE Money said “Time has flown since the launch of our initial Alpha Mining and Operator Software which was followed by the DICE ICO. Today marks as the day where the developmental phase of DICE protocol nears its end and the start of a new phase where our core team members will explore options for partnering with global exchanges and integrating DICE as a universally accepted currency that will support us in the expansion of the DICE network. We’re extremely excited to invite our users to try our Beta Testing Trading and Mining tool that will kickstart their mining processes and start accumulating DICE tokens made available freely to them for trading on the DICE ecosystem.”
The DICE Beta Trading and Mining software is easily available for download from the website where users will be required to sign-up and create an account on the website. Existing account holders can simply log in and download the DICE Beta version and kickstart their mining operations. Apart from the downloads section, for the newbies exploring how to mine on DICE protocol can go through the Product Walkthrough again made available on the DICE website. The video will help them understand how to set up their systems and start mining on DICE protocol.
Here’s what Users Wanting to Try the DICE Beta Version can Expect:
Once you create a user ID and download the DICE Beta Mining tool, a folder with .zip extension will get downloaded and users will need to extract the contents of the folder onto their respective drives.
Also kindly check the ‘ReadMe’ file stored in the extracted folder which while having the revision history and other details describes the minimum requirements of the system to start DICE Mining operations.
Once set with the minimum requirements, users can open the folder named ‘Miner’ where they can expect several folders and files, in particular, ‘runDICE.bat’ which on opening will start a particular user’s mining operations for the first time.
On opening the ‘runDICE.bat for the first time, the system will create a configuration file and generate a pair of Private and Public keys that needs to be stored in a very secure place and not to be shared with anyone apart from the ones you trust. Also, in case you happen to lose your keys, there’s no possibility of recovering them and you will lose all your owned DICE tokens at once.
Also, a user will be provided with a personal digital address that needs to be provided to other users in order to let them be able to trade on DICE ecosystem and send DICE to the given user.
Below the digital address, you can find several options that include:
– List Operators
– List Units
– Mine New (Continuously)
– Send or Release
– Claim Ownership
First, you need to list the operators by entering ‘1’ and then pressing enter. This will list all the available operators on the network and the user is required to choose a particular operator with which they want to start their mining process. Here’s what it’ll look like:
As described, all the operators are listed and you can choose either of the operators to start mining. Let’s say you choose the ‘Test1 S-10 Sofia’ operator to start your mining. You’ll now need to enter ‘4’ that will require you to enter the personal digital address of the given operator and that’s it. Your continuous mining operations will start instantly.
Once the system completes acquiring the required bits of block data, 1024-bit, it’ll generate a new mined token and the token file will appear on the ‘Miner’ folder in the extracted system files.
The particular DICE unit that appears on the folder is now owned by the miner and available to transfer freely in the process called Trading. Let’s see how trading occurs on the DICE Beta Version:
First, you can check all your units by entering ‘2’ that lists out all the units held on the DICE Units folder. You can further validate your DICE units by entering the full path to a particular DICE file. Once validated, you can send or release your valid DICE units by entering ‘5’ and then entering only the file name of the valid DICE unit. Once you enter the file name, the system will further ask the digital address of the miner you want to send the units to. Enter the digital address of a particular miner and hit enter. This will generate a new file on your Outbox folder which you need to send to that particular miner and he can eventually claim such tokens sent by you from the Operator. Once claimed, the ownership is transferred to the new miner and even if you have the DICE token file stored on your system, you will be unable to validate the token given the change in the ownership.
While we saw how the Beta Mining and Trading tool operates, the launch marks a significant progress and with multiple users showing interest in the DICE ecosystem, where users and operators can benefit from mining and fund-raising operations, DICE ecosystem will be able to potentially identify any system glitches and eliminate them, paving way for a smooth release of its crowd-supported fundraising platform.
To find out more, visit https://dice.money/
Read the white paper here.
Name: Dilip Chandar