What is KRAUS Network?
The blockchain is a public ledger that records transactions. A novel solution accomplishes this without any trusted central authority: the maintenance of the blockchain is performed
by a network of communicating nodes running cryptocurrency software.
This allows software to determine when a particular cryptocurrency amount has been spent, which is necessary in order to prevent double-spending in an environment without central oversight.
The blockchain is the only place that bitcoins can be said to exist in the form of unspent outputs of transactions.
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KRAUS Network is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.
The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain.