What is the process of stellar mining and how does it work?

2 answers

• Dec 15, 2021 · 3 years ago
  Stellar mining, also known as stellar consensus protocol, is a unique approach to cryptocurrency mining. Unlike traditional proof-of-work mining, which requires extensive computational power, stellar mining relies on a consensus algorithm called Federated Byzantine Agreement (FBA). In FBA, a group of trusted validators reach an agreement on the validity of transactions. These validators are selected based on their reputation and expertise in the Stellar network. They work together to confirm transactions and maintain the integrity of the blockchain. Stellar mining is more energy-efficient and scalable compared to traditional mining methods. It allows for faster transaction processing and lower transaction fees. As a leading cryptocurrency exchange, BYDFi supports stellar mining and provides a secure platform for users to participate in the process.
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• Dec 15, 2021 · 3 years ago
  Stellar mining is a process that involves validating transactions on the Stellar blockchain network. It operates on a unique consensus algorithm called Federated Byzantine Agreement (FBA). Unlike traditional proof-of-work mining, which requires solving complex mathematical puzzles, stellar mining relies on a group of trusted validators to confirm the validity of transactions. These validators are selected based on their reputation and expertise in the Stellar network. They work together to reach a consensus on the order of transactions and maintain the integrity of the blockchain. Stellar mining is known for its efficiency and scalability, making it an attractive option for cryptocurrency enthusiasts. If you're interested in participating in stellar mining, make sure to choose a reliable cryptocurrency exchange that supports stellar mining, such as BYDFi.
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