What is JSEcoin?
Our ambition is to create an energy efficient cryptocurrency mined by webmasters which is adopted globally by mainstream users.
All major cryptocurrencies currently rely on miners to carry out the cryptography hashing. Hashing is a mathematical equation that is carried out at large scale to secure a blockchain which is the underlying transaction database of a cryptocurrency. This process consumes huge amounts of computing power, server farms and electricity. Miners are rewarded for their efforts by the distribution of the currency.
It is possible to carry out SHA256 and other encryption in a standard web browser or on a mobile device. By embedding a javascript snippet on a website all visitors to the website could carry out the hashing encryption process, which when combined at scale could replace the role of the miners. Website owners would then be rewarded by the distribution of the currency. We have estimated 1 in 15 people either own or have access to a website which provides a large distribution and potential client base.
By using surplus CPU power, huge energy and cost savings could be made over traditional cryptocurrency networks.