GHOST Staking on a Virtual Private Server- a greener solution for financial privacy

GHOST Staking on a Virtual Private Server- a greener solution for financial privacy

By NuCash | GHOST by McAfee | 28 May 2021


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 Do your part for the environment and shift to cleantech blockchain solutions like Ghost, based on Proof of Stake, instead of Monero or Bitcoin which are based on Proof of Work.

Proof of Work systems like Bitcoin or Monero, mint new coins by running senseless algorithms that only consume power to prove that some work was done, but these algorithms don’t provide any additional value to the network besides wasting a lot of electricity.

Proof of Stake blockchains like Ghost mint new coins by staking, a method of locking up one’s coins to secure the network. Staking not only supports the security of the network, but by locking up large portions of the supply. This has the added benefit that less coins are in circulation because there is a strong incentive for people to keep staking their coins in order to mint more coins.

With Proof of Stake, the holders stake their GHOST to prove validity of the blockchain. Everyone mines coins at the same percentage rate according to the amount of coins in each address in order to secure the network. So the more coins you stake i.e. lock up, the more coins you earn. This concept is simple and more environmentally friendly because one does not need an expensive high wattage computer to do the minting. Note, you can bump up your earning capacity by becoming a Ghost Veteran and staking more than 20,000 Ghost coins.

Using Bitcoin or Monero, new coins are minted using several hardware mining computers  which use in excess of 1,000 Watts of power, whereas a Ghost staking node can run on a Rasberry Pi 4, which only uses 6 Watts of power. That’s around 170 times less energy consumption, making the Ghost blockchain way more efficient and friendly to the planet. If you want to reduce your carbon footprint, use the Ghost “Greentech” blockchain solution and don’t just do something for the environment, but maintain absolute privacy of your transactions, too.

 

For more information on this incredible project, please visit GHOST official page.

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NuCash
NuCash

Decentralized crypto community ambassador, DeFi degen, non-giver of ether, Privacy is a Human Right


GHOST by McAfee
GHOST by McAfee

Privacy focused proof of stake cryptocurrency

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