In blockchain technology, miners are participants who validate and process transactions by solving complex cryptographic puzzles. Their primary role is to add new blocks to the blockchain. Miners compete to solve these puzzles, and the first one to do so gets to add the new block, receiving a reward in the form of cryptocurrency. This process, known as mining, ensures the security and integrity of the blockchain by making it computationally difficult to alter past transactions. Miners play a crucial role in maintaining the decentralized nature of the network and ensuring that all transactions are accurately recorded and verified.
Related Articles
Seven Principles of Blockchain Design
The seven design principles in blockchain technology are often derived from the foundational concepts that…
Peer to Peer Verification (P2P)
The blockchain concept of peer-to-peer verification lies at the heart of decentralized systems, where trust…
Nodes (Blockchain)
In a blockchain, nodes are the individual computers that maintain the network. They store copies…
Global Solution Networks (GSN)
A Global Solution Network (GSN) in the context of blockchain refers to a decentralized and…