Blockchain provides an opportunity to create passive income that is unique to the crypto world and can also be highly lucrative.
What is the EOT Blockchain?
The EOT Blockchain is an immutable record of all EOT transactions, stored on a network of computers thus creating a distributed ledger of all transactions.
How Does the EOT Blockchain Work?
When EOT started a first version of the record in the ledger was created and stored in what is block 1 or otherwise known as the Genesis block.
All information on the blockchain are stored in files which are encrypted, in the world of cryptocurrency, these files are known as wallets.
Every file/wallet has an identifying address on the blockchain called its public key. This key is known and is public information. There is, however, a second key which is called the private key which is only known to the user/owner of that specific EOT Wallet. To send a transaction from a wallet, the owner of that Wallet needs to sign the transaction with a private key. Once the transaction is signed by the valid owner it is recorded.
In the case above, the ownership of the wallet has been verified by the private key but what stops the owner sending a false transaction. Thus we need a verification process, this is called mining.
For a full explanation on the EOT Blockchain: – What is the EOT Blockchain
The EOT blockchain is an established cryptocurrency blockchain, operating successfully for 12 months and provides a great opportunity for blockchain entrepreneurs and also for people looking for blockchain secured passive income.
Mining used to be all the rage in the early days of the digital gold rush, but mining larger cryptocurrencies, such as Bitcoin and Ethereum has become less and less profitable due to high competition.
However, mining a newer currency like EOT can be very profitable especially if there is a large movement in price which is not unreasonable to expect as EOT comes from a very low base and new developments could have a material impact on the price.
If you are interested in mining EOT – Click here
The EOT HODL Program
EOTwallet.com provides a way for EOT Holders to “stake” their currency and earn daily income.
Currently, the program pays 0.7% a day which equates to more than 25% per year. The program is extremely flexible and holders can withdraw at any time.
More info here: – Earn Daily with EOT
As you can see from the examples above, Blockchain can be a great way to create passive income.
Thank you for reading, please leave a comment and as a bonus- Collect some free EOT.
Get your copy of What is Bitcoin
This e-book on Amazon explains what Bitcoin is, it explains that Bitcoin (BTC) is a virtual currency, digital not physical, and independent of banks. Useful links and resources for the newbie and advanced Bitcoiner or cryptocurrency enthusiast.
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