Mining
Mining 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.
More terms under M
- MinersMiners are people or groups that help maintain a blockchain by solving complex math problems to validate transactions. They can be large companies with many…
- 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.
- 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 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.
Educational definition. Protocol rules and market conventions can differ; check an asset's official documentation.