FREQUENTLY ASKED QUESTIONS
To help you navigate the world of blockchain technology and cryptocurrencies you may wish to first familiarise yourself with the most common crypto slang terms and hopefully gain some amusement along the way Cryptocurrency Slang - An Illustrated Glossary for Beginners | 99 Bitcoins
WHAT IS 'WEB 3.0' AND HOW DOES THE COMPANY GENERATE INCOME?
A number of cryptocurrencies function using the Proof of Work (PoW) consensus mechanism including the biggest (by market cap) and most well known of all cryptocurrencies, Bitcoin (BTC). This means that a large number of very powerful computers are required to combine their computing 'hash power' in order to solve extremely complex cryptographical (hence 'crypto) algorithms in order to either conduct transactions on a PoW blockchain such as Bitcoin as well as to create new 'coins'.
Crypto miners generate income from both mining new coins (a small percentage of which goes to every miner as a block reward) as well as an additional element paid as a further coin reward that is effectively a transaction fee which in the world of traditional finance would have been paid to the centralised processing (clearance) bank and/or a card issuer such as Visa or Mastercard.
These 'mining rewards' are generated both from the process of creating new coins as well as a % of the transaction fees all users pay when performing transactions on the blockchain.
As these payments accrue at a steady and generally reliable rate* (subject to normal elevated crypto coin price fluctuations) this results in our company being able to achieve, through capital investments in web 3.0computer servers, a reliable income stream providing data hosting solutions and access to hardware and renewable energy solutions.
Furthermore blockchain companies require access to powerful hardware to support their software development from websites, online games and smart contract deployments all of which we help support.
If you wish to know more about different consensus protocols and crypto mining generally (including how this works at a technical level and the need to ensure crypo functions as a decentralised validation network) then you can find out more here What is Crypto Mining | Definition and Meaning | Capital.com
You can also learn more about the specific crypto currencies our computer data servers are helping to secure and from which we derive a percentage of our income at Litecoin - Open source P2P digital currency and Home - Kadena