It is common to find individuals who desire to generate a passive source of income from their existing assets. There are different ways to achieve this goal and one of them is through a sharing economy; this includes anything from sharing homes, rides, and even workspaces.
Would it be profitable to share other assets if sharing homes might be a viable source of income? Is it possible to extend this sharing to our technological resources? What if we could earn money by sharing the processing power or memory of our computer? What if we could earn money by sharing our internet capacity in a secure and safe manner?
That brings us to the topic of the PKT currency. ISPs (Internet Service Providers) currently charge us for the extra bandwidth that we don’t use. This means that whether we are sleeping or away from home, we normally have more bandwidth. Wouldn’t it be fantastic if we could convert that extra bandwidth into profit by sharing it with a different network? PKT helps to accomplish this.
Explaining PKT Currency
This is a cutting-edge blockchain system that pays you in cryptocurrency for sharing your bandwidth with their network. The coin is decentralized and based on Proof of Work (PoW). The total number of coins allotted for mining is 6 billion, which will be distributed over a 63-year period.
Block rewards will also be reduced by 10 percent every hundred days. The block time of the chain is roughly 60 seconds. PacketCrypt is the platform’s Proof of Work. It is created using the hard function of bandwidth. This guarantees that bandwidth is distributed as far as possible over the PKT network. With this, you’re telling the network that you’re willing to provide bandwidth of top quality when you are mining the internet.
This is the procedure of including a hashtag in a message and sending it as an announcement to be shared across the PKT network. This mining can be done on any computer linked to the internet. It’s pretty easy, and you’ll probably do it once you start mining PKT cash or other cryptocurrencies.
After the successful mining of a certain number of announcements, they will be received by a different type of network participant known as a block miner. You can achieve this level as well if your hardware is of higher quality. This is because this type of mining is computationally intensive especially when compared to announcement mining.
As a block miner, your job comprises gathering and validating announcements and you must check that they meet the required standards. Also, ensure that announcement miners are not involved in any form of deception. Furthermore, you’ll produce a PCP (PacketCrypt Proof) and attach it to your block, along with any additional transactions it contains. The block will then be attached to a chain.
PacketCrypt which is a proof-of-work protocol is used by PKT to allow miners to interact and route network traffic throughout the world. This strategy assures that all infrastructure remains bandwidth-intensive by using two distinct phases: block mining and announcement.
The PacketCrypt algorithm chooses CPU mining to GPU and ASIC mining, and this is the PKT Network’s primary benefit of mining. Consequently, mining can be performed on idle resources and favors high-performance hardware that can also be used to encrypt VPN packets. The mining infrastructure helps the PKT Network’s internet.
All of these methods contribute to the PKT Network’s ability to provide a real-time use case that suits both internet users and miners. As more users with high-bandwidth infrastructure register and mine on the PKT Network, it will continue to grow.
Consequently, the PKT Network improves internet infrastructure while lowering the cost of maintaining infrastructure upkeep. By artificially establishing a background demand for bandwidth, PacketCrypt will encourage others to invest in network infrastructure, cutting bandwidth costs in the future.
The benefits are huge, and by encouraging everyone who lends financial support to the system, the network can expand. PKT Network is an excellent choice for individuals who want to promote internet decentralization.
Reasons Why You Should Mine PKT Cryptocurrency
The following are some reasons to guide you:
Improves Internet Services
Mesh is an important part of internet scaling in terms of censorship resistance, privacy, connectedness, and speed, thus it may be a fun cause to support. Furthermore, given how badly Internet Service Providers treat us, it would be ideal to provide them with competition, particularly decentralized competition. They will be compelled to upgrade their services as a result of this.
For other ways to improve internet speed, you can read this article.
Gives Room for Diverse Trades
Although it is still early in the ecosystem, now is the perfect moment to mine a large number of coins from your laptop. With this, you can HODL the coins and use them for block trades, OTC deals, or moon events at a later date, after they’ve made it to the open exchanges. PKT currency is currently worth around a tenth of a penny. That is unquestionably a strong case in your favor.
Balance in Bandwidth Demand and Supply
Mining PKT provides an option for us to consider because it works to balance the gap between bandwidth demand and supply. Also, with companies that allow consumers to pay for containerized services like VPN, personal clouds, and shared storage using PKT, it is possible that PKT coin may develop its own unique utility independent from other speculative assets.
These are some important things to help you understand PKT cryptocurrency. If you need more information, you can search the internet. Additionally, if you need recommendations on other ways to make money while using the internet, you can check here: https://www.forbes.com/sites/laurabegleybloom/2020/03/25/make-money-online-right-now/
Although the PKT cryptocurrency is still relatively new, it has a bright future ahead of it. It is considered the first platform that allows us to profit from the bandwidth we use on the internet. As a result, it is a good idea to check out this coin before it hits the exchange.