Cryptocurrency
Definitions
B
Blockchain
Blockchain is a digital ledger of all transactions that have ever been made on a network – and since it is completely immutable, you can rely on it to keep track of exactly where your crypto – and everyone else’s – is.
M
Mining
Cryptocurrency mining involves using a computer, or several computers, to validate transactions on a blockchain. Technically, these computers solve cryptographic equations and record data in a digital ledger. The more computers solving equations, the faster the blockchain can validate transactions.
When miners verify the hashes of unconfirmed blocks, they receive a reward for each verified hash. Mining can be energy and computationally-intensive, requiring specialized hardware and crypto-mining software.