There's a new cryptocurrency you must be aware of. By the end of 2017, everyone will be onto it. Whether you're a business owner, an investor or a digital mining enthusiast, now is the time to take action. Meet Elements (ELM), the brilliant new cryptocurrency that has the power to streamline customer loyalty programs and eliminate rebate and coupon fraud for businesses. These benefits are possible thanks to the power of blockchain technology and the chained X11 hashing algorithm. X11 is an innovation conceived by Evan Duffield, the core developer of Dash. It acts as the brain of the entire Elements system, providing the proof of work by utilizing 11 complex hashing algorithms in much the same way that Bitcoin does.
Benefits of the New Elements Cryptocurrency
Miners can acquire free rewards based on the quantity of data blocks in the chain they are able to successfully mine. The Elements developers are offering 50 ELM, a share of the transaction fees resulting from the mined blocks, or a choice to combine these options. To achieve these benefits, investors must actively participate in data block mining. This participation enables transaction verification, and it also creates new coins. Elements solves problems inherent in many of the competing technologies that already exist. For example, lately aspiring new miners have been deterred from getting started because high electricity costs make their profitability increasingly challenging. Experienced miners have been realizing decreased profits despite making significant investments in sophisticated, specialized equipment. Elements is a game changer for both of these groups of miners. This is because Elements does not consume as much power as competing technologies powered by the Scrypt algorithm. Power consumption will vary depending on the miner's location and other factors; but on average, the Graphics Processing Units (GPUs) consume about 30 percent less wattage when running the X11 algorithm that powers Elements. Experienced miners are also finding that Elements runs 30 to 50 percent cooler. Most miners using high-end CPUs have experienced returns similar to what they would expect from utilizing GPUs.
How to Get Started Working With the Brand New Elements Cryptocurrency
The developers invite new miners to explore the mining pool: 52.53.50.42:8080/. Potential development partners can click here to discuss this opportunity with ELM's developers.
Elements Specs:
- Coin Name: Elements
- Coin Ticker: ELM
- Algorithm: X11
- RPC Port: 6544
- P2 Port: 6455
- POW Coins Per Data Block: 50 ELM
- POW Coins: 1080000000 ELM
- Maturity: 12 blocks
Understanding Blockchain Technology and Digital Currencies
You're no doubt familiar with the concept of physical currencies and the financial institutions used for storing, trading and investing them, but perhaps you aren't as familiar with the concept of digital currencies. Here's a crash course in blockchain technology for those of you who are unclear about how digital currencies work. Financial institutions maintain centralized ledgers as a means of keeping track of economic transactions. They need to store records of asset sales, payments and contracts. These ledgers are vulnerable to hacking, manipulation, fraud and other problems. Digital currency developers saw the need for systems that do not rely on vulnerable centralized ledgers. They foresaw the rise of a decentralized system that would create and maintain public ledgers that could remain free of manipulation. In 2009, this vision became a reality with the creation of the Bitcoin digital currency. Ever since, innovative developers worldwide have been focusing their talents on improving this technology.