If you are interested in digital currency, then you will certainly know about the blockchain technology that most cryptocurrencies use. Blockchain technology is the system used by most cryptocurrencies to ensure the integrity, security, and safety of the system and that of its users.
One of the biggest attractions that most cryptocurrencies have is that they are decentralized. This means that they are free from the monopoly of any single individual, government, or organization. This is what PKT Cash, just like most cryptocurrencies, leverage to provide an edge to their users.
PKT cash is an innovative coin that encourages people to earn money (in $PKT currency) for their unused bandwidth while using the internet. As simple as it may sound, it is that easy to earn cryptocurrencies. They are the first blockchain to pay users for contributing their unused bandwidth.
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How PKT Cash Network Works
PKT Network has an innovative and revolutionary way of engaging internet users all over the world to contribute to an open-source internet service protocol. With the payment attached to it, it helps to attract people to the network, thereby increasing its reach across the world as more people join and share the bandwidth.
How it works is that when a device gets connected to the PKT Network, it is offering support to the network which uses your CPU time and your bandwidth to mint new PKT Cash. With this, a cycle is set in motion.
With the PKT Cash payment users are getting, they will be encouraged to mine more, thus increasing the computing output and push up the infrastructure. This in turn pays the miners more and increases the bandwidth of the PKT Network for more users to enjoy.
Benefits of the PKT Cash Network
As you must have seen from the explanation of how the PKT Network works, it is clear that this cryptocurrency has a lot of benefits to offer its users. Let us take a look at some of these benefits below:
Economic Incentive
One clear benefit of this coin is the financial benefit that its users are bound to enjoy by investing in it. Financial gain is the main reason why anybody will want to invest in any cryptocurrency. The payment they offer even while using the internet is unique and interesting.
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Decentralized Network
Another target of the PKT Network is to be able to reach as many users of the internet around the world as possible and to be able to offer them free internet use. It is a known fact that traditional ISPs charge a lot of money for an internet subscription.
However, with blockchain technology, the power of internet provision is in the hands of the people. It is free, it is uncapped, it is widespread, and it is not controlled by anyone. Because of this nonexistent central authority, you have the decision-making power over your digital assets. This is the biggest attraction that draws investors to cryptocurrencies.
Low Risk
One of the biggest problems some investments have is that there is a lack of transparency in them. Most times you have to rely on the information provided to you by your financial advisers or the investment company. But with the decentralization of digital assets, there are no cover-ups or shady reports to contend with.
Blockchain technology removes all these bottlenecks that are associated with non-digital assets. You can monitor any transaction you enter into, whether it has been confirmed or not. Any transaction that is not found in the blockchain was never initiated in the first place. This reduces the risk involved in doing business.
Low Processing Fees
Another important advantage associated with cryptocurrency is that it attracts minimal fees for its transactions. The absence of any centralized authority means that there are fewer transactional and processing fees charged on the transactions.
If there were to be authorities involved with the processing of these transactions, they will charge some fees that will greatly affect the cost of doing business. This is a very important factor that blockchain technology and PKT Cash, with other cryptocurrencies, have been able to circumvent.
Security
Another strength that cryptocurrency investment offers with blockchain technology is the safety of funds. As a result of the distribution of the transaction records to various computers around the world, it is near impossible for hackers to gain access and fraudulently withdraw money from investors’ wallets.
When it comes to money and investment, the most important condition that people look out for is the security of their funds. No matter how lucrative an investment may look, if there is no assurance of the safety of such funds, no one will be willing to invest their money in it. That is why this is a very strong factor.
Expected Impact of PKT Cash Network to the Society
We are already aware that the PKT Cash Network is driven by attracting as many people as possible to connect their nodes to its network. By doing that, PKT Cash can mint PKT Cash ($PKT) and use same to pay its users and develop their infrastructures.
With the improvement of their infrastructures, PKT Cash will be able to expand its reach to major miners. This will further increase their ability to reach a greater population. With this chain reaction, the cost of assessing the internet will greatly reduce, thereby forcing monopolized and government-owned ISPs to reduce their internet charges.
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Conclusion
Cryptocurrency, with the help of blockchain technology, has opened up a whole world of opportunities for investors around the world. PKT Cash has further pushed this opportunity to a whole new level with this innovative project they came up with.