Cryptocurrencies and fiat currencies differ in the way that new coins/cash are generated and issued in their respective ecosystems.
Fiat currencies are printed by government-sponsored mints in response to a state authority’s direct orders, while cryptocurrencies are issued by a blockchain network according to a set of predetermined algorithms.
Blockchain networks that create tokens based on Proof of Work schemes require mining, a complicated process. In brief, participants use hardware to run algorithms on specific software to verify transactions on the blockchain, add those transactions to the public ledger and in exchange receive the reward of a newly-created coin.
Meer gains its intrinsic value by energy consumption through PoW, which is the underlying consensus to mint coins on Qitmeer. Thus it eliminates coin issuance without foundation, squeezes the speculation and significantly improves the efficiency by the adoption of DAG.
With its multiple algorithm, Qitmeer lowers entry barriers and allows anyone to participate in mining through CPU, parallel to GPU mining to establish a fair system with financial inclusion.
The intrinsic value of Meer can be appreciated through the increase of mining difficulties by
mathematics model which realizes the wisdom in essence of Bitcoin.
The tokenization of assets on Qitmeer requires a reserve of base currency Meer which restricts the speculation and prevents malicious activities, thereby optimizing Shariah-compliance of Islamic Finance, which gives rises to an equitable and sustainable ecosystem.
A fully inclusive and balanced decision-making process is established by HLC Foundation to serve the ecosystem of ethical finance in line with
common values shared and practiced by whole humanity.
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