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.
Highlights
This article belongs to the Glossary of decentralised technosocial systems, a special section of Internet Policy Review
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
Summary
Provided in Cooperation with: Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin. Suggested Citation: Alsindi, Wassim Zuhair; Lotti, Laura (2021) : Mining, Internet Policy Review, ISSN 2197-6775, Alexander von Humboldt Institute for Internet and Society, Berlin, Vol 10, Iss. 2, pp. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public.
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