What is hashrate transfer?

What is hashrate transfer？

NovaBlock provides this function allowing users to transfer their hashrate between each other and meet the requirement of private hashrate trade between users. The transfer service is totally free.

Rules of hashrate transfer

• The hashrate can be transferred from one mining group to another mining group. The two groups can belong to two different users’ accounts.
• A hashrate lender cannot be a receiver. In the same way, a receiver cannot be a lender. For example, if your mining group A has received hashrate from your friend’s mining group B, then your mining group A cannot transfer hashrate out.
• Two ways to transfer hashrate: 1) Transfer hashrate by a fixed amount. 2) Transfer hashrate by a percentage of a mining group’s total hashrate.
• The minimum transferred hashrate is 1TH.
• If user transfers by percentage, the user can transfer out hashrate only ONCE during a period.
• If user transfers by fixed amount of hashrate, the user can transfer out hashrate multiple times as long as the amount does not exceed the maximum limit.
• Hashrate receiver can receive multiple hashrates from different lenders with different ways.
• The transfer will be effective from the next ‘hashrate day’ (GMT 00:00:00-23:59:59), However, if the transfer action happens during GMT 23:30:00-23:59:59, the transfer will be effective one day after the next ‘hashrate day’.

How to transfer in/out hashrate

• Go to [ACCOUNT] – [MINING GROUP] and select [SETTING] behind the group that you want to transfer hashrate out from. And click the button behind [HASHRATE TRANSFER]
• Input a valid hashrate receiver’s mining group. Select the transfer method. Input the value of transferred hashrate. Select the expiry date. And click CONFIRM
• You will receive a confirmation email. Please check your email and click the confirmation link.

FAQ

Q1: What if the transfer method is selected by a fixed amount of hashrate, but the lender’s hashrate drops under the selected amount?

A1: Lender’s remaining hashrate will be all transferred to receiver. The related disputes shall be settled between hashrate lender and receiver. NovaBlock takes no responsibility.

Q2: How to cancel my transfer?

A2: [VIEW] your transferred hashrate and click [cancel]. Then the receiver will receive a confirmation email. The transfer will be canceled once the receiver confirms from the email.