E-Wallet Mining Works
Where do E-Wallet come from? With paper money, a government decides when to print and distribute money. E-Wallet doesn't have a central government.With E-Wallet, miners use special software to solve math problems and are issued a certain number of E-Wallet in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.
E-Wallet is Secure
E-Wallet miners help keep the E-Wallet network secure by approving transactions. Mining is an important and integral part of E-Wallet that ensures fairness while keeping the E-Wallet network stable, safe and secure
E-Wallet is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other E-Wallet nodes each time they receive a block. E-Wallet uses the hashcash proof-of-work function.
The primary purpose of mining is to allow E-Wallet nodes to reach a secure, tamper-resistant consensus. E-Wallet is also the mechanism used to introduce wallet into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins.
This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
E-Wallet is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.