WHAT IS DIGITAL MINING?

Digital mining is the process by which computing capacity is provided to a blockchain network to collaborate in the recording of transactions and their security. As a reward, cryptoassets derived from new issuance or transaction fees are usually received.

¿Qué es la minería Digital | Sunacrip

LEGALITY OF DIGITAL MINING IN VENEZUELA

In Venezuela, digital mining is regulated by Sunacrip, specifically by the Management of Digital Mining.

The purpose of the Management of Digital Mining is to plan, coordinate, promote and execute digital mining activities and associated processes, as well as granting of licenses and certificates for the import, export, development and usufruct of those activities in the national territory.

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OTHER DEFINITIONS

Blockchain

Blockchain

It is an accounting book, a huge database, where all kinds of transactions are recorded. It is completely transparent, publicly accessible and cannot be deleted or modified.

Blockchain

Pool

Virtual conglomerate of mining equipment united on a given platform to combine its processing power, streamlining its ability to solve a chain of cryptographic blocks.

Blockchain

Difficulty

It is the complexity for miners to complete a task to create a block. As the global hashrate increases, the mining difficulty also increases, so more computing power is needed for processing algorithm.