Hello fellow steemians,
So I was searching the interwebs for new ideas for generating income through cryptocurrencies. I stumbled upon a new technic to generate income.
I dont want to bore you with a big ass article that take weeks to read. Lets get to the important stuff.
So first take a look at what mining is before we get into minting.
On a smipler note mining involves many heavy duty gaming graphics card in a computer which runs a software(there are many ways available, ask google). And the computer is connected to the internet. This shit is very important. Lol
Ohh yeaah.. we need an expensive rig that uses a ton of electricity to generate a cryptocurrency by mining. And the difficulty level is getting huge for smaller people like us to mine any cryptocurrency like bitcoin, etherium etc..
Big companies with industrial grade equipments are making us look like chicken, goat or may be a cow. Whatever...
"Do a research to know more about mining, this article is about minting"
Here is the catch. Minting involves harddisks intead of graphics cards.
So the same setup of computer connected to the internet. Instead of graphics cards we will have plenty of hardsisk connected to the computer.
Take a walk to your local market and get many cheap second hand hardisks. I dont mind if you drive or take a cab. Hell why not use the metro if there is one.
Ohh shit i forgot. We cant mint all currencies using this technique.
There is a cryptocurrency called Burstcoin which uses a technic called Proof of stake instead of Proof of work. Which is used in bitcoin to generate cryptocurrency.
The proof of stake techniques enables us to use harddisks intead of graphics card. And generating cryptocurrency using proof of stake is called Minting.
The result is quite remarkable. We only need to use very less electricity.
Yeahh.. The green shit for environment. No im serious. Using more electricity for the sake of decentralized economy can have other shitty side effects. Which could cause more difficulty to safe living on earth. Unless it is generated by solar.
Common guys we can be more efficient. Wasting lot of electricity for the sake of currency.. Daeemmmm.
Burstcoin claims below.
"Burstcoin's transaction network only uses 10 kW compared with Bitcoin's 200 MW. Transaction costs therefore are 0.02 Cents for Burst and 5 Cents for Bitcoin (May 2016). "
I hope you guys got enriched and entertained.
Im not leaving you empty handed. Check out these links so you can continue the research on your own.
Burstcoin website:
https://www.burst-team.us
Youtube video on burstcoin. From imineblocks.
Check out his channel lot of information there..
Thanks for reading.. Ba bye.. Will be back with another article.
