From a user perspective, an ecoin network is just a mobile app, computer program or online account that provides a personal ecoin wallet and allows a user to send and receive ecoins with the wallet.

Behind the scenes, the ecoin network is sharing a public ledger called the “block chain”. This ledger contains every transaction ever processed, allowing your computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending ecoins from their own ecoin addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in ecoin for this service. This is often called “mining”.

Leave a Reply

Post Navigation