The basics.

Charity Mine uses some of your computer’s unused power to help solve complex mathematical puzzles. When a puzzle gets solved it generates Monero (XMR), a cryptocurrency which can be traded in for US Dollars. If more users visit this site, more puzzles get solved, resulting in more monies to be converted and donated to charity.

What is cryptocurrency?

Cryptocurrency is a form of digital money. There are many different types of cryptocurrencies, each with their own respective values. Bitcoin (BTC), was the first notable cryptocurrency to be released, and is the most traded to date.

Cryptocurrencies use a decentralized technology to let users make secure payments and store money without the need to use their name or go through a bank. They run on a public ledger called a blockchain, all the transactions are updated and held by the currency’s users. Units of cryptocurrency are created through a process called mining, which involves using computing power to solve complicated math problems that generate coins.

“Mining” Cryptocurency.

The act of, “mining” cryptocurrency refers to computers guessing at massive strings of numbers.

Mining cryptocurrencies is how new coins are placed into circulation. The mining process is what makes more of the coin. Because there is no government control and cryptocurrencies are digital, they cannot be printed or minted to make more.

What coin does Charitymine.org mine?

 

How does Charity Mine make use of cryptocurrency?

In years past, mining cryptocurrency was not widespread and accessible. People that wanted to mine cryptocoins had to own a powerful processing unit and have an extensive knowledge of the cryptocurrency ecosystem. In recent months, new technology has emerged which allows everyday internet users to help mine cryptocoins. Charity Mine is taking advantage of this new technology and its potential. Now anyone can help mine cryptocoins just by opening up our website. Charity Mine accumulates Monero (XMR), and converts it to US Dollars using a coin exchange service. We then donate the money earned to the community’s current charity of choice, and post the donation receipt on the website.