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 Dipo Olowookere
The local stock market firmed up by 1.13 per cent on Friday as appetite for Nigerian stocks remained strong.
Investors reacted well to the 2026 budget presentation of President Bola Tinubu to the National Assembly yesterday, especially because of the more realistic crude oil benchmark of $64 per barrel compared with the ambitious $75 per barrel for 2025. This year, prices have been between $60 and $65 per barrel.
Business Post observed profit-taking in the commodity and energy sectors as they respectively shed 0.14 per cent and 0.03 per cent.
But, bargain-hunting in the others sustained the positive run, with the consumer goods index up by 3.82 per cent.
Further, the industrial goods space appreciated by 1.46 per cent, the banking counter improved by 0.08 per cent, and the insurance industry gained 0.04 per cent.
As a result, the All-Share Index (ASI) increased by 1,694.33 points to 152,057.38 points from 150,363.05 points and the market capitalisation chalked up N1.080 trillion to finish at N96.937 trillion compared with Thursday’s closing value of N95.857 trillion.
A total of 34 shares ended on the advancers’ chart, while 24 were on the laggards’ log, representing a positive market breadth index and bullish investor sentiment.
Austin Laz gained 10.00 per cent to close at N2.42, Union Dicon also jumped 10.00 per cent to N6.60, Tantalizers increased by 9.80 per cent to N2.69, Aluminium Extrusion improved by 9.78 per cent to N12.35, and Champion Breweries grew by 9.71 per cent to N16.95.
Conversely, Sovereign Trust Insurance dipped by 7.42 per cent to N3.87, Royal Exchange lost 6.84 per cent to trade at N1.77, Omatek slipped by 6.84 per cent to N1.09, Eunisell depreciated by 5.88 per cent to N80.00, and Eterna dropped 5.63 per cent to close at N28.50.
Yesterday, traders transacted 1.5 billion units worth N21.8 billion in 25,667 deals compared with the 839.8 million units sold for N32.8 billion in 23,211 deals in the preceding session, showing a surge in the trading volume by 76.61 per cent, an uptick in the number of deals by 10.58 per cent, and a shrink in the trading value by 33.54 per cent.
By Adedapo Adesanya
Three stocks stretched the bearish run of the NASD Over-the-Counter (OTC) Securities Exchange by 1.21 per cent on Friday, December 19, with the market capitalisation giving up N26.01 billion to close at N2.121 billion compared with the N2.147 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropping 43.47 points to 3,546.41 points from 3,589.88 points.
The trio of FrieslandCampina Wamco Nigeria Plc, Central Securities Clearing System (CSCS) Plc, and NASD Plc overpowered the gains printed by four other securities.
FrieslandCampina Wamco Nigeria Plc lost N6.00 to sell at N54.00 per unit versus N60.00 per unit, NASD Plc shrank by N3.50 to N58.50 per share from N55.00 per share, and CSCS Plc depleted by N2.91 to N33.87 per unit from N36.78 per unit.
On the flip side, Air Liquide Plc gained N1.01 to close at N13.00 per share versus N11.99 per share, Golden Capital Plc appreciated by 70 Kobo to N7.68 per unit from N6.98 per unit, Geo-Fluids Plc added 39 Kobo to sell at N5.50 per share versus N5.11 per share, and IPWA Plc rose by 8 Kobo to 85 Kobo per unit from 77 Kobo per unit.
During the trading day, market participants traded 1.9 million securities versus the previous day’s 30.5 million securities showing a decline of 49.3 per cent. The value of trades went down by 64.3 per cent to N80.3 million from N225.1 million, but the number of deals jumped by 32.1 per cent to 37 deals from 28 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc finished the session as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units traded for N4.9 billion.
The most active stock by volume on a year-to-date basis was still InfraCredit Plc with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.7 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Adedapo Adesanya
It was not a good day for the Nigerian Naira at the two major foreign exchange (FX) market on Friday as it suffered a heavy loss against the United States Dollar at the close of transactions.
In the black market segment, the Naira weakened against its American counterpart yesterday by N10 to quote at N1,485/$1, in contrast to the N1,475/$1 it was traded a day earlier, and at the GTBank forex counter, it depreciated by N2 to settle at N1,467/$1 versus Thursday’s closing price of N1,465/$1.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX) window, which is also the official market, the nation’s legal tender crashed against the greenback by N6.65 or 0.46 per cent to close at N1,464.49/$1 compared with the preceding session’s rate of N1,457.84/$1.
In the same vein, the local currency tumbled against the Euro in the spot market by N2.25 to sell for N1,714.63/€1 compared with the previous day’s N1,712.38/€1, but appreciated against the Pound Sterling by 73 Kobo to finish at N1,957.30/£1 compared with the N1,958.03/£1 it was traded in the preceding session.
The market continues to face seasonal pressure even as the Central Bank of Nigeria (CBN) is still conducting FX intervention sales, which have significantly reduced but not remove pressure from the Naira. Also, there seems to be reduced supply from exporters, foreign portfolio investors and non-bank corporate inflows.
President Bola Tinubu on Friday presented the government’s N58.47 trillion budget plan aimed at consolidating economic reforms and boosting growth.
The budget is based on a projected crude oil price of $64.85 a barrel and includes a target oil output of 1.84 million barrels a day. It also projects an exchange rate of N1,400 to the Dollar.
President Tinubu said inflation had plunged to an annual rate of 14.45 per cent in November from 24.23 per cent in March, while foreign reserves had surged to a seven-year high of $47 billion.
Meanwhile, the cryptocurrency market was dominated by the bulls but it continues to face increased pressure after million in liquidations in previous session over accelerating declines, with Dogecoin (DOGE) recovering 4.2 per cent to trade at $0.1309.
Further, Ripple (XRP) appreciated by 3.9 per cent to $1.90, Cardano (ADA) rose by 3.5 per cent to $0.3728, Solana (SOL) jumped by 3.4 per cent to $126.23, Ethereum (ETH) climbed by 2.9 per cent to $2,982.42, Binance Coin (BNB) gained 2.0 per cent to sell for $853.06, Bitcoin (BTC) improved by 1.7 per cent to $88,281.21, and Litecoin (LTC) soared by 1.2 per cent to $76.50, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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