In a previous article, I informed you to investigate and research the website in order to discover the web owners real intentions. This time We will have to go one step farther. The real step is to also investigate the actual coin. That is right let me explain.
In the Beginning there was Bitcoin.
In 2008 Bitcoin white paper was released. We all know the history of this decentralized digital currency. What most fail to truly understand is it is the miners that keep it decentralized. If your coin or token is not mined, the question needs to be asked, “What verifies the transactions?”
With that being said, we now have to ensure the coins we back are not centralized coins. The Federal Reserve is also trying to infiltrate the cryptocurrency world by creating centralized coins. They think that by doing this people will automatically just bow and continue to be slaves.
What you need to do is look at each coin or token white paper and see if the coin is decentralized, by mining or proof of stake, or if it is a centralized coin. When you discover that you will be able to clearly see the coin designer’s true intentions.
What Is the Difference?
Proof of Work or mining is done by individuals. These individuals solve highly sophisticated mathematical computations in order to open the lock on the block-Chain to solve a block and verify the transactions that are included in that block.
Proof of Stake is where you have to keep your computer on and the wallet open. It is similar to proof of work, without the complicated processing power. The opened wallet becomes a node on the block-chain, and the individual is rewarded a stake for keeping coins on their wallet.
Research For Yourself.
Understanding the difference now, you must ask for each and every coin and token, “How are Transactions verified?” Is their Block-Chain decentralized, or centralized. Who is the developer? I can not stress enough that this is your money and you want miners or proof of stake clients, because you do not want a centralized group to control your money
In order for you to fully understand, I have linked an episode of the X22 Spotlight. This can also be found on the X22report.com I strongly suggest you listen, and also research the coin you are planning to use. Be sure it is fully decentralized.