How much will the transaction fee be?
At present, there is no transaction fee for the Euncoin Network. This is an advantage over other digital currencies. In other cryptocurrencies, it takes an amount to complete a transaction. A free transaction takes a long period. In Euncoin, every transaction that you make is totally free. There is a possibility of having a transaction fee in the future, albeit it would only happen if it were to benefit Internet Content Creators directly.
What if I receive a Euncoin when my computer is powered off?
It doesn’t matter whether your computer is powered off or not. The Euncoin you receive will be added to your wallet and it is totally irrelevant to your computer’s current status. All it takes to complete transactions is your wallet. Mining actually keeps the computer open and, as soon as you receive the coin, mining will automatically generate the coin into your wallet. Coin transactions are generally unaffected regardless if either your device is turned off or on.
What does “synchronizing” mean and why does it take so long?
Synchronization is a process to download and verify all the previous Euncoin transactions on the network. There are several reasons that synchronization takes time:
It takes time to make new transactions as it requires all the previous transactions to verify.
– The mathematical formula takes time to go through security and get into the ledger.
– The sheer size of the blockchain also determines the time of synchronization. The longer the blockchain is, the more blocks it has. So, to verify transactions in every block, it will take some time. With a minimally sized blockchain, synchronization takes a little time.
– Verifying each block and each transactions in the block takes a while.
– It sometimes depends on your bandwidth. With fully utilized bandwidth it will take less time to be synchronized. Full node clients like Euncoin core is required a comparatively lengthy synchronization but other lightweight clients don’t require a lengthy process but a shot time. Therefore, this problem is not for all the clients and users. Euncoin is a bit faster in this scene. Unlike in other networks, Euncoin has the minimal size of the blockchain and less block than the others. So, synchronization in Euncoim will take less time than the other networks.
How can I widthraw money from Euncoin
There are two ways to withdraw your Euncoin or use them-
A credit card will be made for the donors which will be sent to them physically. It might take a while if no distributions are at your local area. Once you have your credit card, it can be used instantly to convert money into coins and coins into US dollar.
How long does it take to withdraw money from Euncoin?
Withdrawing money from the Euncoin network will usually take 24 to 48 hours.. The office hours make the delay as there is no office hour for withdrawing request. When the request is made on the weekends, it might take more than a day to withdraw money as all the processes need to be done manually.