"Decentralized mining" refers to the practice of distributing the process of mining cryptocurrencies across multiple individuals or entities, instead of relying on a single centralized authority. It involves a network of miners who independently validate and secure transactions, ensuring the system's integrity and preventing any single entity from having full control.
Full definition
Synonyms for individual words can be found below.
«decentralized»
«mining»
Sentences with «decentralized mining»
- Yet, there could still be reasons for joining decentralized mining pools that trump convenience. (coindesk.com)
- Our first priority is to promote decentralized mining and have a running pool with significant hash power. (smartpool.io)
- He is a co-creator and inventor of Ethereum, described as a «decentralized mining network and software development platform rolled into one» that facilitates the creation of new cryptocurrencies and programs that share a single block chain (a cryptographic transaction ledger). (the-blockchain.com)
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