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​MinerGate the first to tackle off-chain collaboration

​MinerGate the first to tackle off-chain collaboration
Aug 31, 2018 by Rico Wise

The cryptocurrency mining pool, MinerGate, has become the world’s first company to secure on off-chain agreement with a digital wallet. This cooperation will help the pool outsource its withdrawal and infrastructure for storage, which further lets the business concentrate specifically on its main business – cryptomining – and better the company’s rank within the 10 dominant multi-digital currency cryptomining pools all over the world.

Through the adoption of the off-chain technology for microtransactions, MinerGate is able to unite with a number of colossal figures in the cryptocommunity, including the likes of Coinbase and Liquidity Network. Microtransactions that are performed off-chain mean transactions under $25, which are performed outside of the blockchain network. This partially takes the load off the blockchain network, and as such becomes a popular solution to some of the most pressing issues of the permissionless platforms, including transaction fees, scalability problems, and network congestion.

This means that the cooperation will be very fruitful for the MinerGate’s clientele concerning costs and safety. The partnering firm with digital wallets is Freewallet, which is a mobile-oriented, easy-to-use family of digital wallets, each of which is uniquely developed to match the individual specifics of one of the 25 supported digital currencies. Freewallet will provide more sophisticated services for withdrawal and storage, including secure, free, and immediate transactions from the mining pool directly into the digital wallet, as well as between the Freewallet customers themselves.

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