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Author Topic: what is mining  (Read 736 times)

Offline mikesmat1

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what is mining
« on: October 19, 2018, 04:13:05 PM »
What does bitoin mining means?

Offline akosuananakem

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Re: what is mining
« Reply #1 on: December 08, 2018, 11:49:44 PM »
Mining is simply used to validate transactions on the blockchain network. "mining" is one means of making sure that cryptocurrency transactions are accurate and true, such that they can never be compromised in the future.

Offline maicodon

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Re: what is mining
« Reply #2 on: January 10, 2019, 10:53:14 AM »
You nailed it. A crypto miner is an individual who uses specialized hardware like CPU/GPU to add transaction records to Coins public ledger of past transactions in order to distinguish legitimate transactions from attempts to re-spend coins that have already been spent elsewhere.

Offline Jati

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Re: what is mining
« Reply #3 on: February 18, 2019, 12:29:35 PM »
Cryptocurrency mining, or cryptomining, is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger.
Each time a cryptocurrency transaction is made, a cryptocurrency miner is responsible for ensuring the authenticity of information and updating the blockchain with the transaction. The mining process itself involves competing with other cryptominers to solve complicated mathematical problems with cryptographic hash functions that are associated with a block containing the transaction data.
The first cryptocurrency miner to crack the code is rewarded by being able to authorize the transaction, and in return for the service provided, cryptominers earn small amounts of cryptocurrency of their own. In order to be competitive with other cryptominers, though, a cryptocurrency miner needs a computer with specialized hardware.

https://www.webopedia.com/TERM/C/cryptocurrency-mining.html
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Offline Beejay

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Re: what is mining
« Reply #4 on: May 04, 2019, 12:07:49 AM »
I received a lot of DMs concerning the veil Mining and here is a brief info ...
Veil has provided miners the transparency and security, particularly the miners who may wish to contribute hash power to veil by undergoing the process of being reviewed by proof-of-review.

 

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