- Blockchain Quick Reference
- Brenn Hill Samanyu Chopra Paul Valencourt
- 91字
- 2021-08-13 15:55:07
Mining of cryptocurrency
Mining is a process by which new blocks are added to the blockchain. Transactions are validated by the mining process by mining nodes and kept in the blocks, then these blocks are added to the blockchain. This is a highly resource-intensive process to ensure the required resources are spent by the miners for the block to be accepted.
Each cryptocurrency has a different mining difficulty, which is defined by the block height, the number of miners mining that cryptocurrency, the total transactions of the currency, and block time.