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.

Share this with a friend!

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.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.
coingecko (thumbnail mini)
CoinGecko for iOS
coingecko (thumbnail mini)
CoinGecko for Android