Mining got easy.
Mining is another means of investment in cryptocurrency aside staking, participating in ICOs, IEOs, STOs and IPOs. Mining requires some sort of equipment’s such as machines, mining station/house and others. It requires manpower as well to keep track of how well the equipment’s are doing maintenance wise too. Power supply is needed to regulate the mining environment in form of cooling system to keep the machines from overheating or possible explosion due to the difficulty in mining a transaction. Mining simply means the process of confirmation of payment on the blockchain. Miners ensure that transactions are real, it confirms to avoid double spending or mutability. Without mining, transactions on the blockchain will not be effective this is because there will be no way a transaction can be approved or certified thereby leading to some problems in the space. In traditional financial institutions, every transaction is recorded in the ledger and can always be referred back to for either verification or confirmation.
This process is the same with blockchain technology which has an open ledger system where every transaction is kept and references can be made to it in the future. Unlike conventional bank system where data can be tampered with, blockchain technology data is immutable data stored on the blockchain can be assessed by anyone who has need for it at any point in time. This is the revolution about blockchain technology thereby making it unique and as an improved version of conventional banking system.
The process of confirming these transactions on the blockchain is hard to maintain thereby limiting the number of participants who can take part in the process.
Aerotoken is a blockchain project, like every blockchain technology, aerotoken requires to be mined to confirm every transaction made on the token. Aerotoken is introducing a different means of mining cryptocurrency. With aerotoken, mining stations are not needed. To mine aerotoken, the process requires a complete confirmed transaction. Miner reward varies across all blockchain network, what a bitcoin miner gets for mining a given block of transaction is different from what a miner on the ETH network will get or those engaging in altcoin mining. These payments are not stable; they are not fixed either. Here comes another revolution on the blockchain technology. Aertoken has a fixed mining reward of 0.01% of every confirmed transaction. With Aerotoken, each mining reward is pre-determined and it is calculated per the number of tokens transferred across various wallets.