Categories

Jan 3 in BlockChain

Q: Blockchain Mining

1 Answer

Jan 3

Mining is a process of verifying transactions, bundling them into blocks, and adding those blocks to the blockchain.

The nodes in the network that verify transactions are called mining nodes or simply Miners.

The process requires the nodes to run consensus algorithms like Proof of Work and Proof of Stake.

Solving Proof of Work problems requires extensive computing power, so the miners are rewarded with tokens like bitcoin and ethereum for solving them.

Click here to read more about BlockChain
Click here to read more about Insurance

Related questions

Madanswer
Aug 14 in BlockChain
Feb 20 in BlockChain
Jan 18 in BlockChain
...