Mining

Galaxycoin Mining

Galaxycoin.io mining is not like standard crypto-coin mining although it is still essential to verify and lock down transactions making them permanent. A distributed system of nodes still accomplishes this task. In traditional crypto-currencies mining creates coins and offers miner rewards but this is not how Galaxycoin works. Wealth is created and held using real assets which are created by real asset holders. These asset holders have specific permissions to create and essentially push assets into the blockchain. The code developed to accomplish this is based on Bitcoin with additional security features and very advanced chain management tools.

Simply mining Galaxycoin is not going to generate rewards but we do have the need for organizations and individuals to monitor Galaxycoin adding a third party to further secure investments and provide more mining nodes. These nodes are automatically set up with mining privileges and contain a full copy of every transaction. Since Galaxycoin is asset based there is no limitation on the supply of coins or assets. Supply is created when there is demand. The only thing that may sometimes limit Galaxycoin is the availability of precious metals. In this case Galaxycoin will pause the buyers market until the supply meets the demand. Because our stock of precious metals is well beyond what we think the demand will be, exceeding supply would be a very rare event.