A crypto mining strategy whereby multiple cryptos are mined at the same time and efficiency.

Merged mining is a strategy used by miners with advanced computational power to mine cryptos on two different blockchain networks and at the same time. Moreover, due to the high computational power, the simultaneous mining of multiple cryptos is done with the same efficiency, effectively letting the miner get more rewards for using the same hash rate to work on two blockchain networks.

Merged mining is generally possible because of Auxiliary Proof of Work (AuxPoW), which is the mechanism that allows simultaneous work. However, it only works when the networks have the same algorithm.

The visual representation for a data structure which helps easy processing of large data.

A Merkle tree is a kind of data structure representation which is used in computer applications and more popularly in crypto. The ‘tree’ in the world of blockchain networks is made up of binary hashes that make it easier for users to identify and validate the transactions in blocks. Complete with branches and a root, the Merkle tree has become one of the most summative instruments used to query a blockchain network.

A Merkle essentially makes it possible for transactions on blockchain networks to be visually represented in a precise and understandable manner. But they are also used to secure the data on the network.

A validating mechanism for yet-to-be-verified transactions.

Mempool (short for memory pool) is a validating mechanism for nodes on a blockchain network. This mechanism is blockchain’s provisions for the waiting period between executing a transaction and said transaction being verified as completed on the network. Thus, while the trader waits for their transaction to be verified via the node-information broadcast process, the mempool takes note of the transaction.

The mempool function is one of the guards against mishaps such as double spending. Because the mechanism functions as a kind of memory cache, it is more difficult to carry out the same transaction twice.

Merged Mining

Previous term

Next term