Nowadays, there are lots of electrical and electronic devices that are in use worldwide. Perhaps, this can be attributed to technological advancements and the evolution of human needs.
As opposed to in the past, today most services are being dispensed digitally and those that aren’t are slowly migrating towards it. This has caused a strain in the availability of resources required to enable these gadgets to function efficiently.
Trying to increase the number of resources that are currently available is an expensive task and takes a long time before it can be fully achieved. The other alternative is to share the few resources present in an organized manner while waiting for the expansion to be implemented.
This is a great approach as it also allows the users to earn some income while doing so. PKT is one such technology that promotes the method. Here are more details about Packcrypt PKT cash.
What is PKT cash?
In simple terms, it is a technology that allows you to share your internet bandwidth while earning cryptocurrency in return.
The growth in various industries like Artificial Intelligence and Internet of Things has led to the increase in connectivity requirements. The limited bandwidth required has to be divided among several parties to ensure that it is properly distributed.
The high connectivity needs of such industries limits the extent to which they can perform their operations. The barrier has slowed down the scalability aspect, especially, where real-time data processing is of essence. A slight delay in processing can result in disastrous outcomes.
As an individual user your bandwidth requirements are low in comparison to industries. Part of the amount allocated to you goes to waste when you are not actively using it. PKT creates a way for you to share it to ensure efficient usage and in return you get paid.
Since it is used in small transactions, the number of coins available for mining is as huge as six billion and is spread over 63 years with a decay rate of ten percent per 100 days for the payouts. It also uses a bandwidth hard function Proof of Work known as PacketCrypt. This allows effective decentralization within the network.
What is the importance of PacketCrypt?
In general, it helps to achieve the required decentralization of transactions on the distributed platform.
It does this by ensuring that the mining process is as efficient as possible and that the bandwidth is exploited instead of the processing power.
Otherwise, it would slow down your device by consuming the processing power and make it lag. The PacketCrypt algorithm allows the miners to work together towards the common goal.
How does announcement and block mining work?
The technology combines these two stages together for efficiency. Announcement mining is whereby the user generates light messages that act as proof of work done. It does not require any special gadgets to do so, just your computer.
The higher the number of successful announcements that you are able to create the better your returns get. Thus, the network gets high throughput. These are then collected by block miners to form a block. This requires special devices because it involves intensive computational tasks.
One has to obtain the announcements, verify that they are of good standard and that there is no fraud involved, generate a PacketCrypt proof and attach it to the block together with the transactions within then attach the block to a chain.
It involves lots of work hence the winner gets paid well for the work and to enable them to pay the announcement miners involved too.
It is important to note that the announcement generation is not only dependent on bandwidth usage, but it also requires high memory. See this link to learn more about blockchain technology https://cointelegraph.com/bitcoin-for-beginners/how-blockchain-technology-works-guide-for-beginners
What are the benefits of PKT?
Being a relatively new technology, it has a lot of potential that is still waiting to be exploited. That being said, here are some of its benefits.
- Efficient bandwidth utilization
This being its main objective, PKT is at the forefront of ensuring that this valuable resource gets utilized properly.
Thus, it serves both the small-scale and large-scale users. You get to fully utilize your allocation and get your money’s worth.
In addition, you also earn cryptocurrencies that are very valuable and you can keep as an investment for the future. Industries that require plenty of it also get to have it.
- Means of payment
PKT can be used to pay for various services like VPN and cloud storage. Other than that, it is the main form of payment used on the PKT platform. When it comes to micro-transactions it is by far the best.
- Decentralization
The technology used ensures safe and effective decentralization. For proper functioning of distributed systems there must be such level of decentralization.
As such, it supports modern services like online cloud gaming and cloud transactions. Click here to see a few benefits you can enjoy when you invest in cryptocurrency.
How is it different from bitcoin?
Although it is based on bitcoin there are variations in terms of policies and features. For instance, its total amount is 6 billion while that of bitcoins available is 21 million.
It can be subdivided into a numerous number of units as opposed to a bitcoin which can only be divided into 100 million Satoshis.
The price of the units is also good. This makes PKT better than bitcoin for small transactions since it is fast and cheap.
Conclusion
There are various types of cryptocurrencies available with diverse uses and transactional operations. PKT is one of them and is based on sharing of bandwidth to allow for efficient utilization. The technology used is such that mining doesn’t affect your computer’s processing power but is dependent on the bandwidth and memory. It is a good way to earn and invest while being a part of a huge revolution. The uses of PKT are expected to increase over time hence making it even more lucrative. As it is with all other crypto ventures, if you are a beginner it is advisable that you consult an expert to avoid getting scammed.
