We really have a passion for what we do here at D Coin, and we want all our clients to share that passion and understand exactly what they are getting in to, and what is happening with their mining or trading at all times.
The world of cryptocurrency is quite daunting to the un-initiated.
Our team of approachable, local experts have put together some definitions and frequently asked questions for your reference.
If you are interested to know more, simply come in and see us and we can take you through everything in person. Fill in the form below to make an appointment.
Crypto mining FAQ section for common questions and answers about D Coin Bitcoin miner hosting.
Cryptocurrency FAQ section for common terms and definitions you may hear in the world of digital currency.
We can host any type of miner, we can work with you to find the best solution.
No minimu, we can host anywhere from 1 up to 1000’s of miners.
One of our experienced team members will set up and help you configure your miners.
Set up fees will be equivalent to your first months hosting cost
Yes we do, please contact us for more details.
We have globallly competitive rates, dependig on your requirements. Please contact us at or on +61 (0) 8 6117 0888 for a quote.
A miner is a piece of hardware which basically generates new coins. Cryptocurrency is a digital currency, based on cryptography. This is basically a large mathematical calculation, which requires many linked computers or miners anywhere in the world to help calculate and veryify all transactions for that coin. This information is stored on the 'blockchain' of each coin, which is like an online ledger of all the transactions. See below for a more detailed definition of blockchain.
At D Coin, we have several kinds of miners which are used to mine different kinds of coins, as a reliable way to build the value. See our about us page for some pictures.
A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured simultaneously using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, food traceability or voting.
The first blockchain was conceptualized in 2008 by an anonymous person or group known as Satoshi Nakamoto and implemented in 2009 as a core component of bitcoin where it serves as the public ledger for all transactions. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger.
Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then, numerous other cryptocurrencies have been created. These are frequently called altcoins, as a blend of alternative coin.
A cryptocurrency wallet stores the public and private keys which can be used to receive or spend the cryptocurrency. A wallet can contain multiple public and private key pairs. As of January 2018, there are over thirteen hundred cryptocurrencies; the first and best known is bitcoin. The cryptocurrency itself is not in the wallet. In case of bitcoin and cryptocurrencies derived from it, the cryptocurrency is decentrally stored and maintained in a publicly available ledger. Every piece of cryptocurrency has a private key. With the private key, it is possible to write in the public ledger, effectively spending the associated cryptocurrency.
Cryptocurrency exchanges or digital currency exchanges (DCE) are businesses that allow customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money, or different digital currencies. They can be market makers that typically take the bid/ask spreads as transaction commissions for their services or simply charge fees as a matching platform.
An Altcoin is a cryptocurrency / digital currency which is widely accepted by the community, any coin besides Bitcoin. For example; Litecoin, Ethereum, Dash, Monero, Ripple, IOTA and more.
FIAT currency is traditional government issued currency like the Australian Dollar, USD, YEN, Euro etc.
Decentralised means not stored in one central place. Digital currency and the blockchain is stored peer-to-peer over the network. Each 'peer' verifies the blockchain transactions making it very secure and reliable.
This refers to a cryptocurrency which is launched by a project to raise funds for a project. For example; Power Ledger (POWR) which is a local Australian project planning to decentralise power for your home and business, basically meaning you can buy and sell power to your neighbors independent of a power company. Most digital currencies have a project behind them, you can search and read all about each project on the individual coin websites. It is a bit like owning shares, as you will benefit finacially if the project does well but unlike shares, you don't actually own part of the company / project.
The Market cap is the total value held worldwide in that specific coin. The total available supply of that coin.
So, we would love to invite you to have an obligation free presentation to explain how it works in easy to understand language and then we can answer any other questions you may have. We can meet you here, so you can see the facility and meet the team or we can come to you.
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