Mining Algorithm
A mining algorithm is a set of instructions that computers use to create valid blocks on a blockchain.
More terms under M
- Minimum Collateralization Ratio (MCR)The Minimum Collateralization Ratio (MCR) is the smallest amount of collateral required to secure a loan in cryptocurrency.
- Minimum Viable Product (MVP)A minimum viable product (MVP) is a basic version of a product that includes just enough features to attract early users and test if the idea is successful.
- MiningMining is the process of adding new blocks to a blockchain and confirming transactions. It’s also how new Bitcoin and some other cryptocurrencies are made.
- Mining ContractA mining contract is an agreement where you pay to use someone else's mining equipment online to earn cryptocurrency, instead of doing the mining yourself.
- Mining DifficultyMining difficulty is a measure of how hard it is to solve the puzzle needed to add a new block to a cryptocurrency's blockchain.
- Mining FarmA mining farm is a place where multiple miners work together to mine cryptocurrency. They join forces to save on energy costs and increase their chances of…
Educational definition. Protocol rules and market conventions can differ; check an asset's official documentation.