✅During mining hash functions come into play and miners guess a hash (64 character) to validate transactions and earn rewards in the form of crypto
✅More computing power, more chances to earn rewards
✅Mining requires graphics cards and ASICs to mine new coins/token
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#Cryptocoach
📄Crypto mining in layman's terms?!
✅The term crypto mining is the process of verifying/validating crypto transactions on blockchain network using computer hardware
✅The miners get some rewards in the process (PoW)
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✅There is possibility of money laundering or tax evasion as the transactions are hidden
✅Cryptocurrency are immutable as well as irreversible & cannot be reversed if transferred to wrong address
#Indiacoin#BitBharat
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✅Payments are safe and secure as it is based on blockchain that makes transactions immutable
✅It is a cheaper alternative of transaction
✅Solution to processing fees and user's wallet is not accessed by any other than himself
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#Cryptocoach
📄Pros & Cons of a Cryptocurrency?!
✅Cryptocurrency has both the advantages & the disadvantages
✅As it is decentralised there is no third party involved in transfer of payments
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Q. Why is the government against crypto?
A. Because crypto is based on the idea of decentralization and the govt. is afraid of the word "Decentralisation"
#BitBharat
What is XINDIA?!
👉According to #Indiacoin website, $India coin is a BEP 20 hyper deflationary token with INDIA as its ticker. XINDIA is no other token but the trademarked ticker (under The Trade Marks Act, 1999) of #Indiacoin itself.