2021
DOI: 10.14763/2021.2.1551
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Mining

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 reward… Show more

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Cited by 3 publications
(2 citation statements)
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“…There are proof-of-stake based blockchains or second layer systems either in development or already available to alleviate the environmental impact. However, for now, the amount of energy required is an essential argument against NFTs, same as with many public blockchains (Alsindi & Lotti, 2021).…”
Section: Regarding the Environmental Concerns Most Nfts Today Exist O...mentioning
confidence: 99%
“…There are proof-of-stake based blockchains or second layer systems either in development or already available to alleviate the environmental impact. However, for now, the amount of energy required is an essential argument against NFTs, same as with many public blockchains (Alsindi & Lotti, 2021).…”
Section: Regarding the Environmental Concerns Most Nfts Today Exist O...mentioning
confidence: 99%
“…In this discourse, a libertarian reading of the technology is dominant (De Filippi, 2017;Werbach, 2018;Wright & De Filippi, 2015). Furthermore, trustworthiness (Becker & Bodó, 2021;Hawlitschek et al, 2018;Jacobs, 2021;Werbach, 2018) and sustainability (Alsindi & Lotti, 2021;Giungato et al, 2017) are discussed prominently as values that should be accounted for in the technology's technical design.…”
Section: Blockchain-based Ecosystemsmentioning
confidence: 99%