Just imagine a situation where you can earn money from an asset passively. That sounds quite wonderful, right? Well, what if we tell you that some people are living this imagination. Okay, let us take it a step further and tell you that you can be one of these persons. No way? We say; yes way!
Technology has been so revolutionary that people now earn money by simply sharing computer processing power or memory, or their bandwidth with other people. How does it work? It is quite easy.
What you do not know is that internet service providers usually charge their users for an additional bandwidth which most of the time is not used. You can visit https://searchnetworking.techtarget.com/definition/bandwidth for a detailed explanation of bandwidth. Luckily, now, instead of paying for and not using this additional bandwidth, you can monetize it. Allow us to introduce you to PKT.
What is PKT
PKT is a blockchain technology that pays cryptocurrency in exchange for internet bandwidth given to their network. The exact amount of coins reserved for people to mine are estimated at around 6 billion when it is stretched for 63 years. Furthermore, the block payouts are reduced every one hundred days by 10%.
PTK works through Proof of Work.
Proof of Work
This cryptocurrency’s PoW is known as PacketCrypt, this is commonly known as PKT. It is through this that bandwidths are distributed through the system. When you mine on the internet, you let PKT’s network know that you are giving them a high-quality bandwidth.
Types of PKT Mining
When mining PKT, 2 kinds of mining have to work together. Let us explain how they work…
1. Announcement Mining
This is the easiest and less stressful part of mining on this network. If you decide to start mining, chances are this is the mining line which you would be on.
How does it work? Well, it starts by adding a hashtag and then titling it to be a message. After this, it will be sent throughout the system as a message. To do this, the PC which will be used has to be connected to the system.
2. Block Mining
After some announcements have been mined, block miners will receive them. If you decide to mine this cryptocurrency, you can also decide to mine like this. However, this is more complex than announcement mining, and you would need a higher level of hardware and processing power for this than you need for announcement mining.
As a block miner, you would be required to collect and validate announcements. That is, you would have to ensure that all announcements meet the standard. You would also have to ensure that none of the people mining announcements have any trick up their selves.
A basic requirement to mine like this is a PacketCrypt Proof. After you have created this PacketCrypt Proof, you would have to connect it to your block, and all other transactions that you have stored in the block.
After this, you would need to take your connected block and then connect a chain to it. For further explanation of what blockchains are and what they are about, you can read this article. Block miners try as much as possible to collect several announcements to enable them to create their PacketCrypt Proof.
This makes the whole process a kind of contest among the miners. Proof of Work like its name implies is what shows that you were involved in the mining process and is also what gets you paid.
Should You Start Mining PKT?
Honestly, this decision is left to you. As you already know, cryptocurrency despite its popularity is still a relatively new concept for many and might have you doubtful. However, we see its relative newness as a positive thing because it means you can start exploring and cashing out of it before it becomes populated.
You can visit PKT Pal to find out more about how to become a PKT miner. You may decide to either hold your coins after you mine them or to sell them for physical cash. We know you are wondering if this currency has any real value. The short and honest answer is a resounding yes.
Getting passive income is an idea that is most appealing to everyone. PKT is one way to bring this wish to reality; you simply need to understand the process, and you’d be making money comfortably.