CRYPTOCOIN Mining Pools … The CRYPTOCOIN explosion –
A global phenomenon that’s hot news worldwide!
Cryptocurrency, simply put, is digital currency (also known as virtual currency or electronic money) that is not controlled by a single entity, such as a central bank and is, therefore, a de-centralised currency. Since it’s initial introduction in 2009 with one single type of coin there has been a continuous flood of new variations of cryptocurrency worldwide. (See Wiki’s more detailed explanation).
It has also been referred to as ‘digital cash’ because it can be easily and swiftly transferred directly from person to person by means of software referred to as a ‘wallet’ stored on their PC or MAC, web application or mobile device.
The exchange of Cryptocoins for other types of currencies, products and services continues to grow as many merchants have recognised the great potential of accepting digital currency as fees as much lower than standard High Street credit card processors.
Cryptocurrcies reward for payment processing work in which the users offer their own computing power to verify and record payment into a public ledger system. This is termed as ‘mining’ and participation of such is carried out in Cryptocoin Mining Pools.
Individuals and companies alike (the ‘miners’) can participate in this activity in exchange for transaction fees and any newly created cryptocoins.
Several Cryptocoin Mining pools are available at Computer Studio Limited’s website and we are actively participating in several new ventures concerning this ‘phenomenon’.
More Cryptocoin mining pools will be added and opened up to the mining public soon.