- 1 Overview of ExchangeCoin
- 2 Blockchain
- 3 Mine
- 4 Transactions
- 5 What is Proof of Work(PoW)?
- 6 Why Experts Choose NYE?
- 7 Are Cryptocurrencies Taxed?
- 8 How Bitcoins are Created?
- 9 Where can I get the latest Cryptocurrency Prices?
- 10 What do we deliver this time?
- 11 Want Daily EXCC Price Updates?
- 12 What is Cryptocurrency Mining?
- 13 What is Cryptocurrency?
- 14 Can I buy anything with Cryptocurrency?
- 15 What are Faucets?
- 16 What is Blockchain?
- 17 What is the difference between Coins & Tokens?
- 18 What is a masternode?
- 19 Why register for an account?
- 20 What is Proof of Stake(PoS)?
- 21 History of ExchangeCoin
Overview of ExchangeCoin
as we strive to incorporate the best features of centralized and decentralized exchanges together into our
three-piece exchange ecosystem.
But it is not all, we also offer investment opportunities to our members.
ExchangeCOin can be also mined on HiveOS.Here is a quick guide on how to start:
Happy mining 🙂
The whitepaper is fairly concise at 21 pages in length, and begins by stating the purpose and aims of ExchangeCoin, which are to bridge the gap between centralized and decentralized exchanges, allowing for seamless transactions, security for users and full transparency.This is set to be achieved by their multi-platform ecosystem, comprising of a decentralised exchange, an exchanger, and a centralised exchange (EXCC-DEX, Xchange.me and Xult).
What is Proof of Work(PoW)?
Proof of Work (PoW) as the name states is the validation of the work that happened and proving it is correct.Bitcoin and many alt coins follow this way of consensus to make sure the authenticity of the chain is good.To understand how it works in simple terms, assume that you are in a math exam along with other students in a classroom.The student who can, not only come up with the correct answer but also can come up with the complete proof (steps in math terms) of arriving at the correct answer first gets the reward.As we know this needs the student with lot of brain power which naturally consumes a lot of energy from the body.Now mapping it to the cryptocurrency world, “math exam” refers to the “transaction”, the “classroom” refers to the “world”, “Student” refers to the “computing hardware/computer” that runs the complex algorithms, “brain power” refers to the “computing power” and the “lot of energy” refers to the “lot of electric power”.I hope it is easier now to understand.
Why Experts Choose NYE?
It utilizes the blockchain technology to create a financial integration between old classic stock and commodities market with the new trend of Crypto Trading platforms.
Are Cryptocurrencies Taxed?
This totally depends on your country’s law! According to the IRS (Internal Revenue Services) a US government agency, Bitcoin will be treated as property, and not as currency.In conformity to a policy notice issued by IRS 2014, every virtual currency investments will be treated as capital assets.Therefore, it’s mandatory to file taxes for the same.
How Bitcoins are Created?
The concept of Bitcoin was a genius thought, introduced by Satoshi Nakamoto.If we talk about the process, Bitcoins are the end product of decentralized & aggressive procedure known as ‘Mining’.The coins are discovered and not printed like money.
Where can I get the latest Cryptocurrency Prices?
There are like several platforms available, where you can explore the recent cryptocurrency prices.But some of the most famous platforms are: CryptoCompare, CoinGecko, CoinMarketCap, Coincodex, CoinCheckup etc.
What do we deliver this time?
The most exciting part of our most recent update is the launch of a fully anonymous affiliate program, with the rewards up to 50% of our fees.
Want Daily EXCC Price Updates?
What is Cryptocurrency Mining?
In order to process buying and selling of Cryptocurrencies which are base on Proof of Work, a user has to broadcast his/her transaction on the whole network (that must be recorded in a Blockchain).The process of successful recording a transaction is known as Cryptocurrency Mining.
What is Cryptocurrency?
Cryptocurrencies acts as a Digital Assets that function as a medium of exchange.Whatever transactions involved using cryptocurrencies are secured by Cryptography.
Can I buy anything with Cryptocurrency?
Bingo! This is where Cryptocurrency shines like anything.There are several businesses that accepts Bitcoin & other cryptocurrencies as payment.It’s not limited to investing or speculation, it has real value as alternative medium of exchange.
What are Faucets?
Faucets can be simply referred as an online platform which functions as a cryptocurrency reward system for users.In return, users have to complete some tasks or captcha or by affiliate, described as on the website or app, as an example, to claim fraction of Bitcoins as rewards! Simply perform a task, enter your wallet credentials and earn some coins.
What is Blockchain?
With the help of optimized hardware, A ‘Block’ is mined towards solving a complex mathematical algorithm (the process is called hashing), whosoever cracks the right hash, is rewarded with a Block reward (a set number of a crypto plus transaction fees).The cryptos included in the block reward are all new coins.
What is the difference between Coins & Tokens?
Both terms are often used as synonyms, but have completely different concepts.In a nutshell, Coins that are sometime also (called as altcoins) are created with several encryption techniques, and hold value over time.It operates on its own Blockchain, for example: Bitcoin operates on Bitcoin Blockchain, NEO operates on NEO Blockchain, Ether operates on Ethereum Blockchain.Coins are mobile, persistent, commutable, and have limited supply.Besides, they don’t have any functionality beyond acting as money.
What is a masternode?
A masternode is a server supporting a decentralized network.
Why register for an account?
We propose a cross-level contingent process model based on social cognitive theory to explain how and when the quality of social exchange relationships with a supervisor (leader-member exchange; LMX) and fellow team members (team-member exchange; TMX) affect individual creativity in work teams.Using longitudinal, multisource data for 828 employees on 116 teams, we found LMX and TMX had unique indirect effects on employee creativity via self-efficacy.Further, moderated path analysis revealed LMX differentiation attenuated LMX quality’s direct effect on self-efficacy and indirect effect on creativity, whereas TMX differentiation augmented TMX quality’s direct effect on self-efficacy and indirect effect on creativity.
What is Proof of Stake(PoS)?
Proof of Stake (PoS) is an alternate way of verifying and validating the transaction or block.This will pick the Validator (Equivalent of “miner” in the PoW) by the amount of stake(coins) a validator has and the respective age of the stake.If you have 100,000 alt coins (let us say NYE coin which use PoS) in a wallet, Here the 100,000 NYE coins is the stake.This amount is like the security deposit which means the Validator holds a significant stake in NYE coin with good aging is more committed and combined with many other factors, will get a higher chance to validate a block.This allows building a trusted and distributed network with loyal Validators (high stake of coins).The Validators earns the part or whole of the transaction fee.In PoS, it is not “mining” but “forging” which is done by the Validator who will process and forge a block to the chain.There are much more differences between the various Proof of Stake algorithms that are being developed but I am limiting to what I said so far just to provide a higher level of differences.There are currently issues with PoS as well, such as a small group of people owning a majority of tokens/coins will be the Validators but it is still evolving and eventually more solid and robust will be out there at some point in time.