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.
Related Terms
Byzantine Fault
A byzantine fault is where an error has occured, yet a computer system does not know due which component/what failed to the lack of information and continues to iterate on a given instruction.
Transaction Fee
A payment to the network for performing a transaction to be recorded on the blockchain.
Blockchain
In Bitcoin's case, blockchain describes its decentralized, public ledger which contains transactional information.
Gas Price
A term refers to the amount of price user is willing to pay for a transaction on Ethereum blockchain.
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