FAQ

Understand more clearly the details of cryptocurrency and BlakeBitcoin specifically. 

 

 

What is cryptocurrency?

 

Cryptocurrencies are innovative new types of digital money. These currencies are open-source, and no individual or government can own or control them. Since they operate without central authority, they are not subject to the political or economic turbulence of countries. Cryptocurrencies derive their value from their user base; as the demand for a currency increases, so does the price. There is only a limited number of each cryptocurrency in circulation, and new coins are usually created at a predictable and decreasing rate. 

 

What is BlakeBitcoin?

BlakeBitcoin is a versatile and proven cryptocurrency. It is an open-source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. BlakeBitcoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency.

 

What are peer-to-peer transactions?

Peer-to-peer transactions allow users to send money directly to family and friends, skipping the middle man, and those accompanying hidden fees.

 

What is a borderless payment?

The borderless feature of cryptocurrency allows it to be used and valid in every country. 

 

How do I know my transactions are safe?

Each wallet has a secret piece of data which is used to sign transactions, proving that they come from the rightful owner. This signature also prevents the transaction from being altered at any point. Then, through a verification process called mining, the transaction is confirmed and posted to the public ledger.

 

How can I check my balance?

This can be done in the block chain, which is a shared public ledger. All completed transactions are listed here, and new transactions are verified against the balance of the owner.  You can check the BlakeBitcoin blockchain with explorers such as bbtc.electroncoin.org.

 

How can I get more BlakeBitcoin?

Many users gain BlakeBitcoin through earning rewards when playing games through Blake Games.  You can also purchase BlakeBitcoin or receive it as payment.