Gone are the days when people relied on one source of income for survival. Nowadays, everyone seeks multiple ways by which extra cash can be made without them having to be fully invested in the activities that earn them the money; one of the many ways people have successfully added another source of a stable income is investing in cryptocurrency.
Cryptocurrencies are virtual or digital currencies based on blockchain technology and they can be used as a means of exchange. Popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin. You can find a comprehensive list of these currencies here: https://finance.yahoo.com/cryptocurrencies/. So, going back to where we left off, a lot of people earn extra cash from dealing in cryptos.
There are several ways people can make money from crypto; it can be mined using powerful computers and complex programming, it can be bought and resold for a profit, it can be bought and hoarded until its value increases and then resold, or it can be traded like stocks. Of all the several methods just mentioned, earning crypto through unused bandwidth is the easiest and most stress-free.
Yes! You read right. People can now earn cryptocurrencies by leveraging the unused bandwidth their network provider makes them pay for anyways. If you’re new to the world of virtual currencies, then you’ll be happy to know about the technology used by many companies to earn crypto. This amazing technology is called blockchain, and we’ll dive right into what it is all about.
What is Blockchain?
Blockchain can be a very complicated concept or technology to understand; however, at its core, it functions as a database. You’ll have to grasp what a database is first of all before fully understanding blockchain.
A database is a structured collection of data that is stored electronically on a computer system and can be accessed in different ways, and by different people simultaneously. A database is similar to a spreadsheet in that information is stored in both of them in an organized manner for ease of access; however, they vary quite significantly.
Spreadsheets are designed to be used by single individuals, or a small group of people to store information. Information stored in spreadsheets is limited and can only be accessed and worked on by a limited number of users. Databases on the other hand are designed to store larger amounts of information that can be accessed by an unlimited number of users at any given time.
So, how is a blockchain different from a database?
The major differentiating factor between a blockchain and a database is the fact that one is owned and managed by a single entity that has complete control of all the data, while the other is owned and managed by multiple people; that is, its information is decentralized. Click here to learn more about a database.
These two electronic storage mediums also differ in the way data is structured in both. While a database structures data in tables, a blockchain does so in blocks that are chained together.
Blockchain records information in a way that it is impossible to hack, change, or cheat the system. It can be seen as a ledger of transactions where each transaction is duplicated and distributed to every computer system on the blockchain, making it a decentralized database.
What is PKT Cash Crypto Network?
PKT is a blockchain technology that pays users cryptocurrency for sharing their unused bandwidth with its network. Through this network, users are able to access the internet without having to pay a traditional internet service provider (ISP), and are paid PKT cash for every 60 seconds they connect their bandwidth to the network.
The vision of PKT is to provide faster, lower-cost internet access that can be monetized by its users. It is essentially, an internet service provided by the people, and for the people. A lot of people are buying into this vision and as of June 2021, the network boasts over 10,000 wallets and well over 200,000 CPUs generating up to 25Gbps of bandwidth.
1. No central authority: Like every other cryptocurrency running on blockchain technology, there is no central authority with PKT. This means that the control of the system is with the users and they have the final say when it comes to their digital assets. This is the main reason why so many people are going into cryptocurrency every day.
2. Reduced fees: Because there isn’t a central authority that will benefit from imposing huge processing and transaction fees, users pay a significantly low fee for any transaction they carry out within the network when compared to its equivalent in the traditional banking system.
3. Lower risk: Because this network runs without a central authority, which is often subject to many different factors, digital assets are faced with less risk. Also, the fact that the record of every single transaction is available to users means that shady people will stay away from the community.
4. Security: Having a decentralized system of operation, digital assets are safe since no hacker is able to access all the data stored in every block at the same time. This decentralization significantly increases the security of assets which is extremely important in the world of cryptocurrencies.
If you are ready to get started with this opportunity, you can visit PKT Cash to learn how to get started.
With PKT, users earn more with less since all they need to do is connect their unused bandwidth to the network and earn from it. They not only earn but also contribute to a greater cause by providing internet access to more people at an affordable rate.