Sedlmeir, Johannes; Zhou, Yunxiu - In: Elgar encyclopedia of cryptocurrencies, blockchain and dlt, (pp. 140-145). 2026
This chapter provides a comprehensive overview of mining in the context of proof-of-work-based consensus mechanisms, which represent the backbone for Bitcoin and many other crypto assets. We first discuss miners’ incentives, the critical role of mining for security, and key design aspects such...