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Let‘s talk about mining and PoW:

What is Proof of Work?
Proof of Work (PoW) is a consensus mechanism that is used to secure and validate transactions on a blockchain.
The mechanism works through a process called mining, in which transactions are validated by solving a complex mathematical problem known as a cryptographic hash function. The people who solve these problems, miners, are rewarded with cryptocurrency. The more computing power miners can bring to bear on mining, the more likely they are to solve the hash function and earn rewards.
The reason for the high computational power requirement is that the hash value of data cannot be calculated by simply backtracking. The solution is the result of trial and error. If the miner can try out more solutions within a given period, the chances of succeeding are higher. This directly correlates to ‘operations per second’ by the computer processor.
With PoW, miners compete against each other to validate transactions and add them to the blockchain. The first miner to add a block of transactions to the blockchain is rewarded with the chain's native cryptocurrency, such as Bitcoin.
The main advantage of PoW is that it is very difficult to manipulate the data on a blockchain. This is because changing even a single transaction would require a huge amount of computing power to redo all the work done on previous blocks. This makes PoW secure against “51% attacks”, which are when a group of miners control more than 50% of the total computing power on a network and can therefore manipulate the data.

Let‘s talk about fees. Normally with CEX & DEX you have high fees (according to Bloomberg the average fee was 1,43% in 2021 for a Swap BTC to ETH). According to rumors sometimes the fees paid and the fees displayed aren’t even in sync and you pay even more.
With Secrex you always see all fees before you make the conversion and you can control how much fees are paid. You can lower them up to 0,00% for all coins we support. You want to know more about this? Follow us for more details 🚀

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