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.

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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.

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