• 5 Cents USD
    Token price
  • +1.26%
    24 hour price
  • 3B GTXT
    Circulating volume
  • $0.05298
    Live GTXT price
Giotex is a form of digital currency which is based on an open source code that was created and is held electronically. Giotex is a decentralized form of currency, meaning that it does not belong to any form of government and is not controlled by anyone.
The original Giotex code was designed by Team of Distinct Developers under GIOTEX open source credentials. In 2018 Team outlined the idea behind Giotex in his White Paper, which scientifically described how the blockchain would function. Giotex is the first successful digital currency designed with trust in blockchain over central authorities. Team left the Giotex code in the hands of developers and the community in 2018. Thus far hundreds of developers have added to the core code throughout the years.
Giotex mining is analogous to the mining of gold, but its digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Giotex mining provides a reward for miners by paying out in Giotex in turn the miners confirm transactions on the blockchain. Miners introduce new Giotex into the network and also secure the system with transaction confirmation. They are also rewarded network fees for when they harvest new coin and a time when the last Giotex is found mining will continue.
Again, when a user decides to use a specific type of software for their Giotex wallet, they are deciding what direction the Giotex network is heading towards. In other words, you need the cooperation of nearly every single user in order to modify any aspect of the Giotex protocol.
Participants in Giotex transactions are identified by public addresses – those are the long strings of around 30 characters you see in a person’s Giotex address, usually starting with the numerals ‘1’ or ‘3’. For every transaction, the sending and receiving addresses are publicly-viewable.
Giotex can be sold locally using LocalGiotex, on Giotex brokerages / exchanges, using two-way Giotex Teller Machines (GTXTM’s) or you can pay for a good or service with them. Giotex can be sold to just about anyone as long as they have a Giotex address, and can be sold for any fiat currency in the world or traded for a physical good. Feel free to check out our recommended list of exchanges and brokerage services to sell your Giotex's online.

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