DIGITAL MINING

WHAT IS IT?

bck mineria

WHAT IS IT?

Digital mining is the process in which computing power is borrowed to a blockchain system. This computing power is used to cooperate in the complex calculations used in the blockchain process. There is a reward to those borrowing their computing power.

OTHER IMPORTANT TERMS

Blockchain: It is a huge accounting book, a very large data base, where all transactions are pointed out. It is auditable, transparent and of public access. It can not be deleted or modified.

Pool or Group: It is a virtual conglomerate of crypto mining equipments that work in a common platform joining their computer power to solve the complex chains of cryptographic blocks.

Difficulty: It is a meassure of complexity for miners to complete a blockchain task. The difficulty goes up when the hashing power goes up. The more the difficulty the more computing power is needed.

DIGITAL MINING IN VENEZUELA

In Venezuela, digital mining is regulated by the Intendence of Digital Mining, which is part of the Sunacrip.

The Intendence of Digital Mining is in charge of planning, coordinating, promoting and executing all the digital mining and related activities in Venezuela. This includes issuing licences and certifications for all the mining activities.

GACETA OFICIAL 41.575 (SPANISH)
Petro

NATIONAL DEVELOPMENT: CRYPTOASSETS
AND THE TECHNOLOGY BEHIND IT