Proof of Work (PoW), is the consensus algorithm that HNC utilizes. Mining is the process by which transactions are verified and added to the public ledger, known as blockchain, and through which new Hellenic coins created.
Transactions must be included in a block. Miners then verify these transactions through proof-of-work. The miners check incoming transactions against previous transactions on the blockchain. If no double-spends are detected, the miners create a block with new transactions and add it to HNC’s existing blockchain.
Each new block is then sent to nodes on the network. The nodes use the miners’ work to continue to verify and transmit transactions across the network.
When a transaction is made, it is then grouped with others that have been recently submitted within one of these cryptographically-protected blocks. Miners solve rather complex mathematical problems, passing the data within a block through the algorithm until their collective power discovers a solution.
It is at this point that all transactions within the respective block are fully verified and stamped as legitimate. Script algorithms are only operational and effective for HNC. Miners also reap the fruits of their labor each time a block gets solved, as a predefined number of coins is distributed among those who helped. Please note that difficulty is already over 30.000.
- Helleniccoin Wallet Downloads:
- Helleniccoin Mining Link:
How to start Mining HNC:
- Download the right HNC Wallet for you.
Choose between the OS that you use.
- Decompress the downloaded file.
Creating a new folder and unpacking the downloaded file in the new folder is the preferred way to limit file loss.
- Run helleniccoin-qt file.
- Click ‘Tools’
- Click ‘open wallet configuration file’
- Paste the link from the Mining Button above.
You simply copy-paste the content of the link we provide via GitHub.
- Close Wallet.
- Open your Wallet again.
Closing and opening the wallet leads to synchronizing the old information with the new ones you just introduced.