It is simply a process of generating cryptocurrency with the use of cryptography. The mining computer gets a number of very demanding hashing algorithms to decrypt. When decrypting turns out successful, a specified number of coins is generated. As more and more coins are generated, decrypting the new group of coins becomes more difficult and requires more and more computing power.
As confusing this process may sound, it has a lot in common with mining – for example – gold. At the beginning of goldmining, almost anyone could have found a motherlode of gold if one more-or-less knew where to look for it. Today, as most of the easily-accessible motherlode of gold were drained, finding new gold is usually a complex operation requiring a lot of work and resources.

Basically – just a computer. You can mine GCC coins on your own just by downloading and launching the miner software. As more and more cryptocoins are generated, you will need stronger computer to assure that your mining will be successful, so it is best to start mining as soon as possible.

Pool mining is also called cooperative mining. It is an alternative approach to mining cryptocurrencies in which multiple miners contribute their computation power to generate a set of cryptocurrency coins that are later distributed among the miners.

The verification time of the GCC transactions has been shortened to 60 seconds and, by comparison, the average verification time for some other cryptocurrencies’ transactions may vary between 10 and 40 minutes.

Yes, but only if you are reckless and/or very unlucky – cryptocurrencies in this case are just as any other valuable asset. However, cryptocurrencies allow to use additional forms of security such as encrypting the wallets which makes it impossible to be used by a person that does not know the password.

GCC is using the newest algorithms that fixed every vulnerability revealed by older cryptocurrencies over the last 6 years which makes it incredibly secure.

The total capacity of GCC coins will be 24.000.000.000

Price of a cryptocurrency is determined in a way similar to other financial assets as a result of supply and demand. When supply exceeds demand, the price falls; otherwise – the price rises.

Price of a cryptocurrency can never be 100% controlled. Nevertheless, value of GCC coin as a part of TheGCCcoin project is backed up with fiat-money assets and a numerous services which support the GCC Ecosystem24.

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