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Mining

Author

Listed:
  • Alsindi, Wassim Zuhair
  • Lotti, Laura

Abstract

In the context of blockchain networks, mining describes a permissionless process intended to ensure the global consistency of a decentralised ledger. Mining requires the consumption of a costly computational resource to participate in a probabilistic competition that confers specific privileges to a node. These privileges typically relate to the proposal of a new block, including the identity and order of transactions contained within. Mining is incentivised via an algorithmically regulated provision of rewards, usually in the form of newly generated coins and/or transaction fees.

Suggested Citation

  • Alsindi, Wassim Zuhair & Lotti, Laura, 2021. "Mining," Internet Policy Review: Journal on Internet Regulation, Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin, vol. 10(2), pages 1-9.
    • Handle: RePEc:zbw:iprjir:235955
    DOI: 10.14763/2021.2.1551
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    Keywords

    Blockchain;

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