The digital revolution is marching through industry at as fast clip and blockchain is part of the spectacle.
Blockchain has recently become synonymous with cryptocurrency but this applications go far beyond financial transactions.
The business value add of blockchain will grow to slightly more than $ 176 billion by 2026, and it will exceed $ 3.1 trillion by 2030 (Source Gartner)
KriptoLime Incorporate is a trusted start-up company with the mission of using the most visible components of rapidly growing the blockchain ecosystem to empower individuals and businesses to become more efficient, secure, and confident on the path to innovating cutting-edge opportunities of the present that define the future.
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Mining is the process that cryptocurrencies use to generate new coins and verify new transactions. It involves vast, decentralized networks of computers around the world that verify and secure blockchains – the virtual ledgers that document cryptocurrency transactions. In return for contributing their processing power, computers on the network are rewarded with new coins. It’s a virtuous circle: the miners maintain and secure the blockchain, the blockchain awards the coins, and the coins provide an incentive for the miners to maintain the blockchain..
Specialized computers perform the calculations required to verify and record every new crytocurrency transaction and ensure that the blockchain is secure.
Verifying the blockchain requires a vast amount of computing power, which is voluntarily contributed by miners.
Mining rewards are paid to the miner who discovers a solution to a complex hashing puzzle first, and the probability that a participant will be the one to discover the solution is related to the portion of the total mining power on the network.
NFTs are digital assets that use the technology behind cryptocurrencies to create unique tokens, each with its own identification that isn’t replicable. These tokens serve as a digital deed for original editions of photos, videos, audio, and other types of digital files.
An NFT is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded.
NFTs provide unique and clear proof of ownership and authorship by the artist, since the minting artist is always listed as the original owner of the digital artwork linked to the NFT.
This cryptographic transaction process ensures the authentication of each digital file by providing a digital signature that is used to track NFT ownership.