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  • What Is Cryptocurrency Mining?

    What Is Cryptocurrency Mining?

    Cryptocurrency mining is the process in which transactions between users are verified and added to the blockchain public ledger. The process of mining is also responsible for introducing new coins into the existing circulating supply and is one of the key elements that allow cryptocurrencies to work as a peer-to-peer decentralized network, without the need for a third party central authority.
    Bitcoin is the most popular and well-established example of a mineable cryptocurrency, but it is...
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  • Selfish Mining Explained

    Selfish Mining Explained

    Understanding the Bitcoin incentives

    Bitcoin is a carefully-balanced game of incentives. In a decentralized ecosystem, aligning the interests of participants is vital to the long-term viability of the network. The incentives that drive nodes to secure the network are mainly financial – in acting honestly, they stand to be rewarded. By attempting to cheat, they miss out on potential revenue.
    This is apparent in mining. Parties invest large amounts of capital into electricity...
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  • Mining Pools Explained

    Mining Pools Explained

    Mining is integral to the security of Proof of Work blockchains. By computing hashes with certain properties, participants are able to secure cryptocurrency networks without the need for a central authority.
    When Bitcoin first launched in 2009, anyone with a regular PC could compete with other miners to guess a valid hash for the next block. That’s because the mining difficulty was low. There wasn’t much hash rate on the network. As such, you didn’t need specialized hardware to add new blocks...
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