Although cryptocurrency mining can be very profitable, it is also a painstaking process. Miners put in a great deal of effort to solve computational puzzles called hash. The role of the miners is to ensure the proper confirmation of the transactions. For them to do this, they need to check that the signature used during the transaction tallies with the earlier information given as a recipient. Additionally, they also check that the inputs being sent have not been spent yet. Once the transaction is confirmed, it is added to the list of blocks. Miners also make sure that you have funds in the first place, as well as ensuring that all requirements are met, such as the account numbers, user’s identity, and other important information.
The original consensus algorithm used in a blockchain network to confirm transactions and to produce new blocks is called Proof Work or PoW. In PoW, for the miners to get rewarded with coins, they compete against each other to complete transactions on the network. This is where they crack the mathematical puzzles and whoever solves it first gets the reward. However, in instances that the puzzle is not solved within a definite time frame, the workflow hangs, the transactions are stuck, and no blocks will be generated. On the other hand, if the puzzle is too easy, then the transaction is prone to vulnerabilities such as spam and Denial of Service attacks (DoS) or in layman’s terms, hacks. Cryptocurrency mining is this complicated. You have to be a geek to be a miner. Not until today, as Virie Market is now ready to use by anybody from anywhere in the world.
Virie Market uses a hybrid parity protocol. It combines PoW with PoS (Proof of Stake). Using the PoW only is safe as long as 50% of the hashpower belongs to honest miners. Using the PoS only is safe as long as 50% of the tokens are distributed to honest and active miners. To compromise Virie’s hybrid parity protocol, an attacker needs to have the powers of both 50% PoW and 50% PoS. That will be too challenging for any hackers to do so. The PoS feature of Virie Market is like depositing money in the bank with an annual interest rate. Users can earn profits by simply having Virie coins in their digital wallets. In essence, you earn profits by simply being a user in Virie Market. You can even earn more than the amount of what you can earn in your bank account’s interest rate. And unlike the risk of depreciation that the cryptocurrency miners experience in PoW only process, mining in Virie Market can withstand inflationary pressures.
Based on my personal experience, Virie is truly a quick and easy way to earn in cryptocurrency mining. I am not a geek so I could not compete with those who are mining experts if I tried other platforms. With Virie, I didn’t have to compete with anyone. I also do not have those dedicated computers that miners use to mine cryptocurrencies. All I did was download the Virie Market application, installed it, and created a digital safe. I just set it to “start mining” and forgot about it. Today when I checked it, I was surprised by how much I’ve earned in just a couple weeks without me doing anything at all. If this is not a quick and easy mining process, I honestly am not sure what is. Download it here and see for yourself!