Independent Money System price is $0.00201925
The current price of Independent Money System (IMS) is $ 0.00201925. The currency has increased over the previous 24 hours, with a total traded volume of during the same period.
The Independent Money System (IMS) is a digital cryptocurrency that exists on the blockchain. IMS is designed to offer a decentralized form of currency that can be used for various online transactions and can be mined by anyone with sufficient computing power. This cryptocurrency aims to take power away from centralized financial institutions and allow individuals complete control over their finances.
Though the specific details about who created the Independent Money System (IMS) are not readily available, it is a public and open-source project. The exact team behind its development is often kept under wraps to ensure the decentralization and fairness of the system. The anonymity of the developers also serves as an extra layer of security against potential threats.
IMS works similarly to other cryptocurrencies. Transactions are validated and added to the blockchain by miners who solve complex mathematical problems. Once a transaction is validated, it is added to the historical ledger that makes up the blockchain. This validation process also results in the generation of new IMS tokens, providing an incentive for miners.
It's important to emphasize that the IMS system claims to be completely decentralized, meaning that no entity or individual controls or manipulates it. The system works based on a consensus protocol among all participants in the network.
The network of Independent Money System makes use of a Proof-of-Work (PoW) consensus mechanism for its security. Under this system, miners must solve complex mathematical problems to verify transactions and add them to the blockchain. By design, these problems are difficult to solve but easy to verify. The difficulty ensures that the network stays secure, as attacking it would require an inordinate amount of computing power.
The circulating supply of Independent Money System is currently at 5.4M, whilst the total supply stands at 5.4M.
Independent Money System (IMS) can be purchased and sold on several cryptocurrency exchanges, including YoBit. Remember to practice due diligence while trading IMS or any other cryptocurrency, as the market can be volatile and it's crucial to ensure the safety and security of your digital assets.
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