A block is a file where data (pertaining to a specific cryptocurrency network) are permanently recorded. A block records the most recent digital coin transactions that have not yet been recorded to any prior blocks. You can imagine that a block is like a page of a...
Cryptocurrency is a form of digital asset, split into units like virtual coins or tokens, that can be used as a digital currency. Cryptocurrencies use cryptography for security and a network of computers that verify each transaction. Each user can have...
The root problem with conventional currencies is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Satoshi Nakamoto Bitcoin(₿) was...
A mineable digital coin (cryptocurrency) is a coin that is created and can be acquired through the mining process. Miners and mining rewards The minable coins are created by (and are rewarded to) the miner, for successfully verifying transactions on the network...
In the Cryptocurrency world, the block reward (or mining reward) is the number of coins that are given as reward to the miner that first “found” the next block by solving the a mathematical puzzle. The whole procedure of finding the next block in a...
A genesis block is the very first block of a blockchain. It is usually mentioned as block 0 or block 1. For a Cryptocurrency Project having its own genesis block means a few important things about its integrity and the fair distribution of the digital...
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