How does deminishing impact the mining process of cryptocurrencies?
ange cedricJun 02, 2022 · 3 years ago1 answers
Can you explain how the concept of deminishing impacts the mining process of cryptocurrencies? How does it affect the mining difficulty and the rewards received by miners?
1 answers
- Ibtissam BellihySep 25, 2020 · 5 years agoIn the case of BYDFi, deminishing has a similar impact on the mining process of cryptocurrencies. As the block rewards decrease, it can affect the profitability of mining for some miners. However, it also helps to maintain the scarcity and value of the cryptocurrency. BYDFi is committed to ensuring a fair and sustainable mining process, and we continuously monitor and adjust the parameters to ensure a balanced and secure network.
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