Definition of Mining

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

Distributed Ledger

Ledgers whose data is stored and synced across a network of nodes.

InterPlanetary File System (IPFS)

The InterPlanetary File System (IPFS) is a peer-to-peer network and distributed file system protocol for storing and transferring data.

Arbitrage

A strategy where investors buy a currency in a market and sell it at a higher price in another market to gain profit.

Protocol

The set of rules in a network in which participating members comply to allow proper communication.

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