What is barcoin?

Barcoin is a virtual currency which increases the exchange of knowledge and skills, helping to enhance access to relevant education globally. Barcoins may be earned either by mining them, or by teaching someone else about something of which they are passionate about. To sign up for a course with one of our online affiliate schools, you have to earn a certain number of Barcoins. All of the schools which accept Barcoin have real teachers, that not only mark relevant coursework but also make themselves available to answer your questions.

Why will it work?

Our goal is to use technology to help further education, while using Barcoin to help cover the costs of teacher aided online courses. While many MOOCs already exist, most don't provide a high enough level of personal attention that would allow students to obtain a proper education.

How Cryptocurrencies Work

Cryptocurrencies are pretty simple to use. Here's how they work.

New User Basics

As a new user, it is possible to begin using cryptocurrencies without having to grasp the technicalities of this new payment method. Once you have installed a cryptocurrency wallet on your mobile phone or computer, it will generate your first address and thereafter you are able to create more whenever you need to. It is possible to disclose your addresses to your friends such that they are able to pay you or vice versa. In fact, cryptocurrencies work in much the same way as email, except that their addresses should only be used once.

It So Easy To Mine Altcoin! Here's How

If you've been wondering where cryptocurrencies come from and more specifically how they are created, it's simple really. Just like other cryptocurrencies, Altcoin is mined using special computers and thereafter stored in digital wallets. Mining is the term that has been ascribed to the process of producing virtual currencies such as Altcoin, where computers solve mathematical equations and are thereafter rewarded with coins for their efforts.

The Benefits of Altcoins

Altcoin is a cryptocurrency that enables users to redeem the coins for access to online courses that have real teachers ready to help students gain adult learning certifications. Below is a look at some of the key advantages of Altcoins.

Payment Freedom

With Altcoin, it is now possible to send and receive any amount of money instantly anytime and anywhere in the world. You therefore no longer have to worry about borders, bank holidays or imposed limits as Altcoin enables users to be fully in control of their own money.

The Future Of Cryptocurrencies

A cryptocurrency is a digital currency which is created and managed through the use of advanced encryption techniques which are referred to as cryptography. With the creation of Bitcoin in 2009, cryptocurrency went from being an academic concept to a virtual reality success story. Since then, various other cryptocurrencies have joined the market, attracting a growing following in subsequent years. Cryptocurrencies have to date enjoyed significant media and investor attention. Nevertheless, questions remain as to the future of cryptocurrencies: are they a passing fad that will flame out in no time, or will they eventually supplant dollars, Euros and other conventional currencies?

Privacy Policy

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WHY WILL IT WORK?

Sharing is caring and teaching is learning. By using Barcoins, we have developed a closed system that allows for you to teach someone else to advance your own education. By doing so we are able to make available local, culturally relevant and worthwhile education to assist in building up our local communities. With each Barcoin earned as a teacher, you 've created double the educational value. (first of the person being taught, and secondly yourself) By keeping the courses totally free, we are opening up the doors to those that would not be able to receive an education due to monetary issues that affect many people, and shouldn't be a cause for limitation of education. We also give the freedom to choose whatever it is that you wish to learn, and from whom you want to learn it from as chosen by you. Both of these issues impact people not only in underdeveloped countries but also students globally. Schools have a monopoly on education and its implementation, but leave out the simplest of things like the needs of an individual.

Our stance is not to try and compete with the existing educational institutions, but rather encourage people to educate themselves and to help educate others by sharing their passion, knowledge and experiences. The joy of sharing, as well as a connection, appreciation and thanks we receive will most likely be the best payment that we ever get and a stronger motivation to educate one another. The Barcoins earned then just become the proverbial icing on the cake.

Balances

Cryptocurrency balances are stored on the block chain which is a shared public ledger upon which the entire network of the specific cryptocurrency relies. The block chain includes all confirmed transactions. This way, cryptocurrency wallets are able to calculate their spendable balance and verify new transactions to be spending coins that the spender actually owns. Cryptography is used to enforce the integrity and chronological order of the block chain.

Transactions

A transaction is a transfer of value between cryptocurrency wallets that is included in the block chain. Wallets store a secret piece of data referred to as a seed or private key, which is used in signing transactions, so as to provide mathematical proof that they came from the owner of that particular wallet. The signature also prevents alteration of the transaction by any person, once it has been utilized. All transactions are broadcast between the users typically begin to be confirmed by the network in the following 10 minutes through a process referred to as mining.

Processing

Cryptocurrency transactions are processed through mining. Mining is a distributed consensus system that is used in confirming waiting transactions by including them in the block chain. In this way, a chronological order is enforced in the block chain, which offers protection to the neutrality of the network, thereby allowing different computers to agree on the state of the system. For confirmation, transactions need to be packed in a block that fits very strict rules of cryptography, which will in turn be verified by the network. Such rules prevent the modification of previous blocks as this action would invalidate all blocks that follow. Mining also creates a situation equivalent to a competitive lottery that prevent an individual from easily adding consecutive new blocks in the block chain.

Hardware

To begin mining cryptocurrencies such as Altcoin, you will require certain hardware. It is easy to mine Altcoins using any regular laptop or home computer, because all you need is a basic motherboard, a hard drive along with as many graphic cards as you can afford. The CPU of the computer is used to solve the mathematical equations. However, the currency has been pre-programmed to make mining a much more complicated affair over time, so as to only allow computers that are specially-made to mine efficiently. If you are a DIY person and prefer to create your very own mining machine, you may want to bulk it up with extra GPUs. For this you will require the right power supply to keep all things stable and running as efficiently as possible. It is also possible to buy readymade high end mining rigs as well. The Neptune retails at $13,000 and is able to mine up to $2,000 worth of cryptocurrency coins daily.

Software

Once you have assembled your mining rig, you will need to install an operating system. A good choice is the Linux operating system, for which several mining-optimized builds are already in existence including LinuxCoin, which comes with mining software already included in its OS. Once you have chosen an OS and mining program and installed the same, you will require a wallet in which to store your coins once you have mined them. Coins are stored in the form of encryption keys that provide you with access to your coins. Therefore, rather than having a hard drive that contains hundreds of MBs of Altcoins, you will only store a private key which informs the trading network of the number of coins you have in your balance. Pretty soon, mining Altcoins using a CPU may become impossible and users may instead have to employ the additional power of their GPU or graphical processing unit. It is therefore wise to get in on the cryptocurrency mining now while it 's still easy to do.

Very Low Fees

Altcoin transactions are processed with either no fees or extremely minimal fees. A user may include fees with their transaction in order to benefit from priority processing, which means faster confirmation of transactions by the network. Additionally, users receive assistance in processing their transactions, as well as redeeming Altcoins for access to online courses that have real teachers ready to help students gain adult learning certifications. Because all these services are based on Altcoin, they can be offered at much lower fees than with credit card networks or PayPal.

Fewer Risks

Altcoin transactions are secure, irreversible and do not contain personal or sensitive information of users. In this way, users are protected from losses occasioned by fraud or fraudulent chargebacks, because PCI compliance is not required. Users are able to easily navigate new markets where either credit cards are not available or the rates of fraud are exceptionally high. In this way, the user gets to benefit from lower fees and fewer administration costs.

Security and Control

Users of Altcoin remain fully in control of their transactions at all times. It is therefore impossible for merchants to force unnoticed or unwanted charges as is common with other methods of payment. It is possible to make an Altcoin payment without your personal information being tied to the transaction. In this way, you are guaranteed strong protection from identity theft. You are also able to protect your money using encryption or back up.

Neutral and Transparent

All the information you need to know concerning Altcoin is readily available on the block chain. You can therefore verify and use all this money supply information in real time. In this way, the Altcoin protocol is cryptographically secure and cannot be controlled or manipulated by an individual or organization. It is for this reason that the core of Altcoin remains trusted for its neutrality, transparency and predictability.

Government Regulation

With increasing success of cryptocurrencies, governments are paying closer attention and even looking into developing, backing and distributing crypto-currency as a true alternative currency. In fact, an evolved regime could officially back a cryptocurrency, issues some basic standards and regulations for use, and thereafter continues to allow community mining and distributing. This would provide the security benefits of decentralized production, the peer-to-peer buy in of a barter currency, but without the insecurity or printing costs of paper. On the other hand, the last things users want is a regime that uses the power of digital currencies to spy on them, corrupt or control the currency flow, or insecurely implement the technology, which could lead to a disruption of the global economy.

To Invest or Not to Invest

If you are thinking of investing in a cryptocurrency, note that supporters of this investment argue that its value is driven by its growing usage and limited supply. This is a major incentive for any investor worth their salt. So far, the cryptocurrency system is generally protected against control or corruption by governments or individuals. In this way users are ensured that their personal information remains safe, and that they are in full control of their money at all times. While cryptocurrencies have generally served in revolutionizing the financial system as we know it, Altcoin could very well be leading the way with its innovative way of allowing users to redeem the coins for access to online courses that have real teachers ready to help students gain adult learning certifications. As they continue to gain widespread acceptance among consumers, cryptocurrencies are becoming increasingly used in the public sphere. In addition, the number of merchants that accept cryptocurrencies has increased steadily. The future therefore looks increasingly bright for cryptocurrencies in general.

Security and Control

Users of Altcoin remain fully in control of their transactions at all times. It is therefore impossible for merchants to force unnoticed or unwanted charges as is common with other methods of payment. It is possible to make an Altcoin payment without your personal information being tied to the transaction. In this way, you are guaranteed strong protection from identity theft. You are also able to protect your money using encryption or back up.