The programmer named Satoshi Nakamoto pointed out the problem of the centralization of the existing currency and created the first BITCOIN Genesis block on January 3, 2009. In particular, 2009 was the height of the financial crisis triggered by US subprime mortgages, and they attempted to solve the problem by supplying a massive dollars to the market. As a result, concerning about a decline in the value of the dollar, BITCOIN began to attract attention to people as an alternative currency. BITCOIN introduced a ‘decentralized transaction book’ system that enables individuals and individuals to exchange money directly without going through banks.
Every time a transaction is made on the system, a new record is added to the published book, which is called a ‘Blockchain’. The person who is responsible for confirming the transaction records recorded in Blockchain and approving the transaction is called “miner”. The BITCOIN system compensates the miners with coins in exchange for consuming computing power and electricity. The miners can sell BITCOIN for profit, but they are in trouble when the competition between miners becomes more intense and BITCOIN prices fall. The world is facing these problems now.
BITCOIN has plummeted and miners are in trouble, and miners are not profitable and are selling mining equipment in large quantities. In some cases, mining equipment has been left for several months because it has failed to cost hundreds of thousands of dollars in electricity. In fact, there are too many miners around the world. Too many mining equipment went into operation and lost the original mission of Cryptocurrency. In a situation where the world is confused and confronted with problems, new identities and technologies are quietly introduced in Asia. It is a method of mining by mobile. Cryptocurrency, called GSTAR (GOX), is a mobile block chain, preparing to mine with mobile. Mobile mining does not require expert knowledge and cannot be mass-mined. Because mobile mining is based on certification, mass mining is impossible and anyone can access it because it is mined in game format.
If People are mining with mobile like GSTAR, It is impossible the decline of mining factories will destroy the entire Cryptocurrency or the fact that the mining factories take control of Cryptocurrency. Mobile is owned by everyone, so if people use it to mine with mobile, this will be a new alternative.
Reference Video: https://www.youtube.com/watch?v=VH-Nr0kq4h4
Official Website: https://gstar.ai/