What is a miner?
- A type of blockchain
- A person that solves complex mathematical puzzles to verify a transaction
- A computer that processes and verifies a blockchain transaction
- An algorithm that predicts the next block of a chain
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Answers Explanation & Hints: A miner, in the context of cryptocurrency, is a person or entity that performs the process of verifying transactions on a blockchain network by solving complex mathematical puzzles. The process of verifying transactions involves adding new blocks of transactions to the blockchain ledger. The miners are rewarded for their work with newly created coins or transaction fees. The more miners there are in a network, the more secure and decentralized the network becomes. Miners require specialized computer hardware and software to perform the verification process efficiently. |