What is Deutsche eMark (DEM) Crypto Beginner’s Guide
Deutsche eMark is a digital currency. It uses a Proof-of-Work and Proof-of-Stake algorithm. 210 million DEM tokens were mined. 3.8% is staked annually. 50 DEM tokens are awarded per block. The block generation time is 2 minutes. Transactions take a few seconds and can be done from a PC. No personal data is required for the transaction. It relies on blockchain technology.
DEM Token Trading Information
DEM tokens are traded on several exchanges including Cryptopia, YoBit, and CoinExchange. DEM tokens are paired with BTC tokens. DEM has a market capitalization of $637,000. Daily trading volume exceeds $400. The circulating supply is 40,474,652 DEM. The total supply is 47,456,628 DEM.
There is a digital wallet for transferring DEM tokens. It is called eMark qt. This software downloads the blockchain to the computer. 700 MB of storage space is required. All transactions that occur are stored on the blockchain. There are less complex wallets available; they don’t download the blockchain. Instead, they download only the information that is needed to transfer DEM tokens. These include smartphone wallets and paper wallets. eMark qt is able to generate interest; the simpler wallets can’t.
There’s a block explorer for users. It is designed well. The text color contrasts with the background nicely. The information is organized and easy-to-read. Several useful facts are displayed including the block height, hash address, the amount of DEM tokens generated, the data/time of the transaction, the BTC price, and difficulty rating. The amount of DEM tokens available is also listed. There’s a search bar that lets users find a particular transaction.
eMark stands for German electronic mark. It is an open-source software project. It started in 2013. It is not related to the d-mark. Users that transfer tokens with the eMark qt wallet support the eMark network. They earn interest by passing blocks and confirming transactions. Users that download the Lite wallet for Android or iOS smartphones don’t support the eMark network and don’t earn interest. A special type of coins are formed through interest called coin blocks.
The staking process requires the following elements:
● eMark qt wallet
● Coin blocks with coin age greater than 30 days
The yearly interest rate is 3.8%. The monthly interest rate is 0.32%. The transaction fee is $0.001. The sender pays the fee. The fees are passed on to the miners for processing the transaction.
DEM uses SHA-256 algorithm. The source code is available at Github. DEM is a cryptocurrency. It is decentralized. Each transaction has a new account number, which can’t be traced back to the owner. Users can print their tokens via a paper wallet.
To mine tokens on the eMark network, hardware is required. This includes ASIC hardware. Another option is to rent mining equipment. Users can take advantage of the technical infrastructure of a mining pool as well. Users have to pay pool fees to join. M-Control, Coinz AT, and GCPool are a few options for new miners.