About 3G Coin
Mining is a record-keeping service. Miners keep the block chain consistent, complete, and unalterable by repeatedly verifying and collecting newly broadcast transactions into a new group of transactions called a block. A new block contains information that "chains" it to the previous block thus giving the block chain its name. The proof-of-work system, alongside the chaining of blocks, makes modifications of the block chain extremely hard as an attacker must modify all subsequent blocks in order for the modifications of one block to be accepted. As new blocks are mined all the time, the difficulty of modifying a block increases as time passes and the number of subsequent blocks (also called confirmations of the given block) increases.
Mining is a process of adding transaction records to 3G Coin public ledger of past transactions or block chain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves the confirm transactions to the rest of the network as it takes place. 3G Coin nodes use the block chain to distinguish legitimate 3G Coin transactions from attempts to re-spend coins that have already been spent.
3G Coin mining is a payment system, in which user can transact directly without any intermediate. Transactions are verified by network nodes & recorded in a public distributed ledger called Blocks. It is created as a reward for payment processing work in which users offer their computing power to verify & record payments into a public ledger. This activity is called mining & the miners are rewarded with transaction fees & newly created 3G Coins.
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