BLOCK REWARD - BITCOIN NETWORK - BITCOIN - MINING -

rspower (48)in #blockchain • 8 years ago


BLOCK REWARD	verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during mining. ^{Source + Source}
BITCOIN NETWORK	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain. ^{Source + Source}
BITCOIN	bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer. strictly, bitcoin with a capital “b” refers to the protocol & the network, whilst bitcoin with a lowercase “b” is the currency. bitcoin can refer to the protocol, network or the unit of currency. ^{Source + Source}
MINING	by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. in this cryptocurrency boom, mining can be a lucrative business when done properly. the necessity of validation warrants an incentive for the miners, usually in the form of coins. mining is the act of validating blockchain transactions. ^{Source + Source}


BLOCK REWARD	verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during mining. ^{Source + Source}
BITCOIN NETWORK	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain. ^{Source + Source}
BITCOIN	bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer. strictly, bitcoin with a capital “b” refers to the protocol & the network, whilst bitcoin with a lowercase “b” is the currency. bitcoin can refer to the protocol, network or the unit of currency. ^{Source + Source}
MINING	by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. in this cryptocurrency boom, mining can be a lucrative business when done properly. the necessity of validation warrants an incentive for the miners, usually in the form of coins. mining is the act of validating blockchain transactions. ^{Source + Source}

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