Cryptocurrencies will revolutionize the financial world
Coin transactions take place between two wallets.It works in the same way as a bank wire, but here, it is based on encrypted messages. The confirmation time for a transaction differs depending on the cryptocurrency. The Infinity Economics platform places great emphasis on transaction speed to ensure that XIN is used as a digital currency XIN in practice.
Right from the launch of a cryptocurrency, such as the XIN, each transaction is stored in a public ledger.The identities of the coin owners remain encrypted.The system uses cryptographic algorithms to establish the user’s identity.
A wallet refers to a digital wallet that holds a certain amount of coins (the sums of the transactions).
Some cryptocurrencies require the mining of new coins (or so-called “blocks”). “Miners” have to solve an increasingly difficult mathematical problem. Mining is usually open to the public, and the miner wins a small commission.Infinity Economics dispenses with mining and has elected to generate all available coins as part of a “Genesis Process” instead.
Many cryptocurrencies are designed to work both on a small and a large scale.XIN has been developed with the ulterior motive of worldwide use from the outset.
Neither the transactions nor the wallets can be assigned to an identity in the real world.All addresses are random strings (pseudonyms), which ensure a certain degree of transparency for the transactions, as well as protecting the identity of individuals and organizations.
As the name implies, cryptocurrencies use cryptographic methods to provide security for the creation of coins and all transactions.