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Steemit
Mining
By CoinGecko | Updated on Mar 03, 2020
It is the process of the miners verify and adding transaction recors into a block. The miner who successfully do the mining will be rewarded with a coin. The verification process typically requires the miner to use a specific hardware to mine and connected to the internet.
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Related Terms
Protocol
The set of rules in a network in which participating members comply to allow proper communication.
Option
It is a financial instruments that refers to a contract offers the buyer the right to buy or sell an underlying assets at a specified price and time.
Token
Blockchain based unit of value issued by an organization, which grants token holders a right to participate in a network.
Transaction Fee
A payment to the network for performing a transaction to be recorded on the blockchain.
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