Mining

mahy-ning

Noun

formal english definition

The process of creating new bitcoin by solving complex puzzles.

EXPLAIN LIKE I'M 5-YEARS-OLD (ELI5) definition

Mining is similar to a treasure hunt in that participants use specific tools and solve riddles to discover hidden wealth. Instead of mining for riches, miners use powerful computers to solve complicated riddles that authenticate transactions and add them to the blockchain.

COMPREHENSIVE definition

Cryptocurrency mining is the process of adding new transactions to a blockchain and validating their legitimacy. When a transaction is made on the blockchain, it is broadcasted to all nodes on the network and added to the mempool.

Other local languages
Tagalog definition

(Pag-mina) Pwede ring tumutukoy sa mga taong namamahala sa mga Bitcoin mining hardware

Cebuano definition

(Pag-mina) Ang prosesong paggawa/paglikha ng bagong bitcoin sa pamamagitan ng paglutas ng mga komplikadong palaisipan.

Ilocano definition

(Panagkalkali) Proseso iti agar-aramid iti baro nga bitcoin nga mangsulsulbar iti komplikado nga burburtla.

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