Shift Cryptocurrency: What You Should Know

Shift Cryptocurrency: What You Should Know

Shift coin is an innovative cryptocurrency that was recently introduced into the market. Launched in Аugust 2015, it was the first alternative crypto

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Shift coin is an innovative cryptocurrency that was recently introduced into the market. Launched in Аugust 2015, it was the first alternative crypto coin to be based on the Ethereum code. Since its launch, the currency has been trading very well and this can be attributed to the heavyweight team working on it and backing it. It has been a very successful currency making it to the top of the best trading digital current in the world. Like the rest of the competing crypto coins, Shift a peer-to-peer marketplace that enables the users to transact freely without a third party control. There is no central authority controlling the activities of this currency. The coin is only active online and thus it can only be transacted on the digital platform.

How to Transact Shift coins

Transacting with this currency is very easy. All you need is to sign up for the platform and start trading. The platform allows for easy registration and you can start with trade immediately after accessing your account. You will find users on the platform to transact with and starting making coins from the different interactions with them. Every successful transaction earns you some coins into your account. In some cases, you can earn several coins by getting involved in different competitions provided by the platform. Each participation will earn you few coins into your wallet.

Privacy of users

One thing that stands out of this marketing platform is the security of the user. The privacy of the users is highly protected from the hackers. It is important that hackers may access crypto currency coins to either steal or devalue the currency. The fact that the currency market is designed as PoS (proof-of-state), make the system highly secured for the third party to penetrate. Under this system, it is the responsibility of the individual users to keep the system secure. Shift market is also structured in a manner that allows the formation of DOA (Decentralized Autonomous Organisation) to enhance its security. It is a virtual organization on the Blockchain.

Mining

Mining Shift currency into your wallet is very simple. The currency uses the same algorithm as the Ethereum for mining purposes. With this currency, you can make the use ethminer to solo mine the amount of coin that you need. Under this system, you need to open the Geth (Go Ethereum Client) folder and the run the Geth-console. The soft will download the blockchain data for security purposes and then generate the wallet address. Once the wallet is accessed, start the ethminer for solo mining. This is how Shist coins are mined. Like the rest of the cryptocurrencies, you can use the currency for various transactions including tipping online.

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