Mining Difficulty
Mining difficulty is a measure of how hard it is to solve the puzzle needed to add a new block to a cryptocurrency's blockchain.
More terms under M
- 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 AlgorithmA mining algorithm is a set of instructions that computers use to create valid blocks on a blockchain.
- 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 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…
- Mining PoolA mining pool is a group of miners who combine their computing power to improve their chances of earning rewards by finding new blocks together.
- Mining RewardThe money that miners earn for successfully discovering and confirming a new block of transactions in the blockchain.
Educational definition. Protocol rules and market conventions can differ; check an asset's official documentation.