Digital Currency: The Technologist's Answer to Self Employment
Posted by Thomas Shaw on December 12th, 2020
Digital Currency, usually known as "Cryptocurrency", is a kind of money that only exists in electronic format. It's a series of information that uses a technology referred to as Block Chain, which acts as a ledger and maintains the history of what the Cryptocurrency has been used for. Equivalent to coins or paper money, Digital Currency is stored in a digital wallet, and may be used as a regular method for buyers and sellers to pay for the exchange of goods and/or services. The transfer of ownership of a Digital Currency is kept as a record inside the Block Chain, which is often tracked from user to user. You'll find clear benefits of tracking the activity of any currency, the most substantial benefits becoming proof of ownership and fraud prevention & mitigation. Get more information about ReChain
The recent growth in popularity of Cryptocurrency has given way to a new era of wealth in the technology industry. While the standard means of generating income or amassing wealth has typically involved exchanging a product or a service for money or compensation, Digital Currency is generated completely different. Much like gold or silver is dug out of the ground, Digital Currency uses "miners" to process thousands upon thousands of calculations every minute, effectively digging through a mountain of digital rocks and dirt to locate what ultimately ends up becoming a solution to an extremely complicated math problem.
Up until recently, a Technologist's ability to generate a paycheck relied on building digital applications or providing their technical skills to a business. However, with the birth of Cryptocurrency a Technologist (or even a novice user with some basic computer programming skills) can circumvent basic employment and engage directly inside the production of this new currency by building a cadre of ultra-powerful computers whose sole purpose is to "mine" Cryptocurrency.
The corporate world relies heavily on the skills and abilities of Computer and IT Professionals. However as the popularity of virtual money continues to grow and become more and more popular, combined with the natural skills held by even some of one of the most basic computer programmers, the corporate world may start to see Cryptocurrency as a threat to their business operations. When compared to answering to a boss at a Technology firm, mining Digital Currency may be a very attractive job opportunity, therefore leading to the potential of a shortage in qualified computer programmers in the Technologies industry.
