Economy
PLC Ultima Revolutionizes Crypto Mining with Mobile App
It’s a far cry from the days when almost anyone could participate in crypto mining just using his computer. Nowadays, crypto mining is something not affordable to the majority as it needs either expensive computing machines or deep technical knowledge or both of them. This situation leads to higher risks of centralization of mining in the hands of those who can afford it. PLC Ultima, a blockchain-based ecosystem for e-commerce services, rethinks crypto mining and makes it possible to create new coins using mobile apps.
Mining Vs Minting
Opposed to centralized systems, all decentralized ones bear on the community of their supporters who actively participate in the life of the system, i.e. running nodes that check transactions or launching mining farms which write blocks of transactions in the blockchain. In return, active participants are rewarded with a certain number of digital coins for their work. Mining is essential in maintaining decentralized systems alive. Decentralized systems keep its level of decentralization while its users benefit financially from their roles.
In theory, everyone could try crypto mining. But those times when anyone with a decent home computer could easily earn new coins have long gone. Starting investments in mining exceeded several thousand dollars. If talking about bitcoin, one cannot even dream of mining if having less than $10,000 in his pocket. Furthermore, all this mining on computing machines or using GPU is extremely energy consuming and makes crypto mining an unfriendly process to the environment.
The crypto industry entered a post-Bitcoin era when new decentralized systems have to find new ways of creating coins and stimulate users to play an active role in the network. PLC Ultima proposes its innovative solution to this challenge called minting.
Minting is a more energy-effective way to produce new coins via computing power. Instead of buying expensive and energy-consuming GPU or ASICs, minting is available via apps on smartphones. This approach gives millions of persons an access to a profitable participation in decentralized systems.
Mobile Minting
Users who want to be active participants of the PLC Ultima ecosystem just need to register new accounts and download special apps (Ultima Farm and Ultima Wallet) on their smartphones. The PLC Ultima operates two native coins called PLCU and PLCUX. PLCU serves as a tool when sending transactions, while PLCUX is focused on generating new coins. PLCU is also based on a deflationary model. That means, fees paid in PLCU for transactions are burnt. By withdrawing coins forever from circulation, the ecosystem reduces market supply of burnt coins and increases shortage and raises demand for PLCU on the secondary market.
To start minting, users are required to freeze a certain number of PLCUX for a certain period. In order to buy PLCUX, users have to buy PLCU first as PLCUX is traded on exchanges only for PLCU. And PLCU is traded on dozens of exchanges, including Gate.io.
Users are rewarded on a monthly basis for storing and freezing coins in their wallets. The amount of the reward corresponds to the number of frozen coins in the wallet.
PLC Ultima, Ecosystem for Future Fintech
The PLC Ultima is a blockchain-based ecosystem focused on a wide range of fintech services, from an everyday payment system to a crowdfunding platform and marketplace, all of them already used by 1.5 million of users around the globe. The project was run by Alex Reinhardt, a venture investor, economist, entrepreneur who launched dozens of startups and fintech platforms. Its mission is to give people around the world access to the financial instruments of the ecosystem and improve their quality of life by lowering barriers to financial services.
Its blockchain is an updated version of Litecoin blockchain strengthened by the CryptoNight hashing algorithm used by Bitcoin and Monero. The PLC Ultima blockchain is fast, with one block signed every 1.5 minutes.
The PLC Ultima ecosystem hosts dozens of actively used fintech services. Its most popular ones are a blockchain-empowered crowdfunding platform called Platin Hero with smart contracts, a global e-commerce marketplace called PlatinDeal with cryptocurrency payment method available, and PLC Card, a banking-analog card for everyday payment in digital assets with exceptionally high daily limits (up to €150,000).
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.24 per cent on Friday, April 25 after the duo of FrieslandCampina Wamco Nigeria Plc and Afriland Properties Plc landed on the losers’ table.
FrieslandCampina Wamco Nigeria Plc depreciated by N2.58 to sell at N35.37 per unit compared with the previous day’s N37.95 per unit, and Afriland Properties Plc lost 2 Kobo to close at N17.78 per share versus Thursday’s closing value of N17.80 per share.
However, Geo-Fluids Plc appreciated by 10 Kobo during the trading day to sell for N1.80 per unit, in contrast to the preceding session’s N1.70 per unit. The rise in the price of the stock could not prevent the fall of the bourse yesterday.
Consequently, the market capitalisation of the trading platform went down by N4.64 billion to N1.914 trillion from N1.918 trillion and the NASD Unlisted Security Index (NSI) declined by 7.92 points to 3,269.06 points from 3,276.98 points.
The final trading session of the week ended with a surge of 1,695.8 per cent in the volume of securities transacted to 3.7 billion units from the 206.2 milion units transacted in the previous trading day.
Equally, the value of transactions jumped by 2,592.6 per cent to N9.5 billion from N354.1 million on Thursday, and the number of deals decreased by 47.4 per cent to 20 deals from the 38 deals recorded a day earlier.
Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units sold for N520.9 million, followed by Geo-Fluids Plc with 259.3 million units worth N456.1 million, and Okitipupa Plc with 153.6 million units valued at N4.9 billion.
Also, Okitipupa Plc remained the most active stock by value on a year-to-date basis with 153.6 million units valued at N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 15.6 million units worth N598.5 million, and Impresit Bakolori Plc with 533.9 million units sold for N520.9 million.
By Dipo Olowookere
A 0.30 per cent fall was recorded by the Nigerian Exchange (NGX) Limited on Friday as a result of profit-taking in the industrial goods sector.
This was mainly caused by sell-offs in Dangote Cement Plc, which released its financial statements for the first quarter of 2025 yesterday.
The cement maker lost 10.00 per cent during the session to trade at N432.00, Regency Alliance lost 8.06 per cent to close at 57 Kobo, VFD Group depreciated by 7.57 per cent to N17.10, Chams declined by 7.27 per cent to N2.04, and Sovereign Trust Insurance crashed by 6.12 per cent to 92 Kobo.
Conversely, International Breweries, Legend Internet, and Ikeja Hotel gained 10.00 per cent each to sell for N7.70, N6.82, and N12.10 apiece, Vitafoam Nigeria surged by 9.93 per cent to N44.85, and Eterna rose by 9.92 per cent to N39.90.
The industrial goods index was down by 4.73 per cent on Friday, as the others finished in green territory.
The consumer goods space rose by 2.21 per cent, the banking sector appreciated by 1.55 per cent, the insurance counter expanded by 1.50 per cent, the energy sector increased by 0.07 per cent, and the commodity industry went up by 0.04 per cent.
At the close of transactions, the All-Share Index (ASI) went down by 321.21 points to 105,753.05 points from 106,074.26 points and the market capitalisation shrank by N202 billion to N66.465 trillion from N66.667 trillion.
The level of activity increased yesterday as the trading volume, value, and number of deals grew by 30.40 per cent, 94.23 per cent, and 17.64 per cent, respectively.
This was because investors transacted 428.1 million shares worth N20.2 billion in 14,284 deals compared with the 328.3 million shares valued at N10.4 billion in traded in 12,142 deals a day earlier.
GTCO led the activity chart with 60.7 million equities sold for N3.8 billion, Fidelity Bank traded 41.4 million stocks worth N829.3 million, Access Holdings exchanged 40.6 million shares valued at N968.3 million, MTN Nigeria sold 33.0 million equities for N8.2 billion, and Zenith Bank transacted 22.9 million stocks worth N1.1 billion.
By Adedapo Adesanya
The Naira extended its gains against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, April 25 by 0.22 per cent or N3.59 to sell for N1,599.42/$1 compared with the N1,603.01/$1 it was traded in the previous session.
The Nigerian currency also improved its value against the Euro in the official market by N1.36 to close at N1,818.53/€1 compared with Thursday’s closing price of N1,819.89/€1.
However, the domestic currency depreciated against the Pound Sterling in the same market segment yesterday by N1.90 to wrap the session at N2,130.44/£1 versus the preceding session’s rate of N2,128.50/£1.
At the black market segment, the Naira appreciated against the greenback on Friday by N2 to quote at N1,605/$1, in contrast to the previous day’s value of N1,607/$1.
In the cryptocurrency market, a possible regulatory progress about digital assets in the US spurred buying interest among investors during the trading session.
The chairman of the US Securities and Exchange Commission, Mr Paul Atkins, was at a crypto roundtable on Friday and he devoted his inaugural speech to assuring the industry that he will continue to remake securities policy to favor digital assets innovation.
Litecoin (LTC) rose by 3.0 per cent to $87.24, Dogecoin (DOGE) grew by 2.7 per cent to $0.1862, Bitcoin (BTC) increased by 1.3 per cent to $94,687.84, Ethereum (ETH) jumped by 1.2 per cent to $1,797.51, Cardano (ADA) improved by 0.9 per cent to $0.7235, and Ripple (XRP) gained 0.6 per cent to close at $2.20.
On the flip side, Solana (SOL) depreciated by 0.9 per cent to $151.64, and Binance Coin (BNB) lost 0.8 per cent to sell for $602.89, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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