MALAYA CRYPTO MINING PROJECT
Bitcoin and cryptocurrency has proven that they are here to stay. With its combined ease of use and almost zero anonymity for users, cryptocurrency is rapidly becoming popular among the general public. Bitcoin, the pioneer currency, considered as the gold standard has shown its strength by reaching an all time high of $20, 000.00 last December 2017 with a total market capitalization of approximately $327 billion dollars.
You might be asking right now, what is Bitcoin? And what is cryptocurrency? How do we earn it?
There are a lot of ways to answer your question and hundreds of paper pages might not be enough. I will try to explain it to you in the simplest manner as I possibly can. Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. There are tons of ways on how we can earn Bitcoin; there is currency exchange, trading, and most of all MINING which is the main topic of this project.
As I have explained earlier, cryptocurrency uses cryptography to secure its transactions; this cryptography uses complex mathematical solutions which in turn require highly specialized equipment called MINERS. These MINERS are computers specifically built to handle cryptography. Every time a miner solves a problem, it is rewarded with Bitcoin (or whatever cryptocurrency it is mining), because these cryptocurrencies has a built in reward system programmed. This is how we earn, through MINERS.
I will discuss further in the following pages regarding the details of the project, for now, I wish to welcome you into the new age of the future: Cryptocurrency!
Angelo Gabriel C. Holganza