In the context of blockchain technology, the process of adding transactions to the large distributed public ledger of existing transactions is known as mining. | Divyansh Rai
Shared on Blockchain
In the context of blockchain technology, the process of adding transactions to the large distributed public ledger of existing transactions is known as mining.
Mining involves creating a hash of a block of transactions that cannot be easily forged, protecting the integrity of the entire blockchain without the need for a central system. Mining is typically done on a dedicated computer, as it requires a fast CPU, as well as higher electricity usage and more heat generated than typical computer operations.
The main incentive for mining is that users who choose to use a computer for mining are rewarded for doing so.
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