Create Location Process.
When you sign up to Krater, one of the significant steps in the onboarding process is creating a “Location.” This location is a digital representation of the physical spot where cryptocurrency mining occurs. As you establish this location, you’ll be asked to provide the following details:
- The Name Of The Location
- The Internal Description
- The Geographical Region
- The Base Rate Per Kilowatt-hour (Kwh)
- The Capacity Of Mining Operations At The Location
- The Availability Of Mining Service
- The Power Security Percentage
While most of these terms are easily recognizable, the ‘Power Security Percentage’ requires further explanation.
Power Security Percentage
Our ‘Power Security Percentage’ feature is unique to Krater. Purposefully designed to acknowledge potential inaccuracies in algorithmically measured energy consumption, it operates in a specific way to ensure accuracy in energy usage standards.
The kWh number that Krater measures and calculates from “Energy Reports” is multiplied by the Power Security Percentage. This adjustment can help correct any inaccuracies stemming from the algorithmic measurements of energy consumption.
Some of our users also leverage the Power Security Percentage to account for the energy used by the farm apart from what ASICs consume, such as cooling systems. Hence, it serves a two-fold purpose - ensuring accuracy in reporting, and providing the user with flexible usage accounting mechanisms.
Creation of a “Location” also creates a “Krater Node” associated to that specific “Location”, more about “Krater Node” can be accessed here.