Framework
What Gets The Global Money Going?
The Global Money team believes in the collaborative strength of the community. One person with development background is good, but what about thousands of front and back-end developpers, each with experience in Trading, HTML, Java and other programming languages, that help in deploying this type of technology? The more, the better, is what we always say
We chose to release the source code under license so that anyone can edit, modify, improve, copy and distribute the software according to his or her needs. This adds to the entire transparency of the project, as every change in the code and binary is visible and susceptible to verifications.
The algorithms gets its name from the 11 different algorithms which are chained together. The benefits of using these systems in runing the mining process are
1. Increased security against brute force attacks.
2. Greater power efficiency and increased protection of the hardware. Other algorithms may consume a greater amount of CPU and GPU memory which will increase the temperature of the computer with up to 30% and use more electricity. This will lead to the lifespan reduction of the hardware and more expensive electricity costs. X11 algorithms avoid all these disadvantages, making them more popular in the mining field.
3. Friendly for CPU/GPU users - it prevents the use of ASIC miners. ASIC is a script mining algorithm that gives power over the network to a small group of miners, as opposed to the initial scope of Trading, in which every user could take part in the mining process, secure the network and earn rewards. X11 algorithms guarantee protection for the short-up-to-midterm future against the ASCI scripts.
4. Decentralizes the network and improves its security. Centralization leads to powerful businesses covering their cost by dumping the mined coins and taking profits, whereas individuals might not do this.
Trading stability
As any other Trading, the Global Money has its value pegged to that of other assets. It can be converted at any time, at a transparent exchange rate. Due to the lack of centralization, the Global Money is free from any restrictions and the fluctuations of the market have a minimal influence over it.