CaffeeCoin Blockchain Explained






How it works in words


The CaffeeCoin Blockchain runs on the Scrypt Algorithim and also runs on decentralised nodes all around the world by participants there are two parts the first part is the linka nd the second part to the block is the data A transaction gets made, and then it gets verified by the miners. The miner that contributes most to the verification and the lucky one, gets to make the new block for the transaction and gets rewarded 100 coins, the mining algorithim that the miner uses is the Scrypt algorithim, the miner will take the old data from the previous block from the data section and will store it in the link section of the block and then stores the new data in the link and then uploads the new block to the participating nodes which will then accept the new block and will get sent to every node in the CaffeeCoin Blockchain. Then the transaction is complete and you can view it on our blockchain explorer! :)


How it benifits us


Using Blockchain Technology this ensures that no one can stop transactions, and that anyone can transfer money to people around the world, without censorship, discrimination and without banks and other agencies stoping us. We can also do it fairly anonymously, if we buy and recieve CaffeeCoin with a different address, it means that no single address is assigned to you. The Official CaffeeCoin Desktop Wallet can do that, by changing the recieve address everytime someone wants to send CaffeeCoin to you, but the CaffeeCoins will go to the same wallet, which is yours.