Miner

From Computer Science Wiki
The printable version is no longer supported and may have rendering errors. Please update your browser bookmarks and please use the default browser print function instead.
Advanced programming[1]

Miners are computer owners who contribute their computing power and energy to the network of a “proof-of-work” based cryptocurrency like Bitcoin. The first miner to validate a new block for the blockchain receives a portion of the currency that is mined as a reward. This remuneration is called a block reward.[2]

  • miners earn cryptocurrency without having to put down money for it.
  • miners receive cryptocurrency as a reward for completing "blocks" of verified transactions which are added to the blockchain.
  • mining rewards are paid to the miner who discovers a solution to a complex hashing puzzle first, and the probability that a participant will be the one to discover the solution is related to the portion of the total mining power on the network.


References[edit]