How does IOTA mining work?

3 answers

• Dec 16, 2021 · 3 years ago
  Mining in IOTA works differently compared to traditional cryptocurrencies like Bitcoin. Instead of using a proof-of-work (PoW) consensus algorithm, IOTA utilizes a directed acyclic graph (DAG) called the Tangle. In the Tangle, there are no miners, and every participant in the network is required to validate two previous transactions before making their own transaction. This validation process ensures the security and integrity of the network without the need for mining.
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• Dec 16, 2021 · 3 years ago
  IOTA mining doesn't exist in the traditional sense. Instead of miners, IOTA relies on a decentralized network of participants who validate transactions. This approach eliminates the need for energy-intensive mining operations and allows for faster and feeless transactions. So, if you're looking to mine IOTA, you won't find any mining hardware or software to use.
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• Dec 16, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, supports IOTA and provides a platform for users to buy, sell, and trade IOTA tokens. However, it's important to note that since IOTA doesn't have traditional mining, BYDFi acts as a facilitator for users to access and transact with IOTA tokens. They provide a secure and user-friendly environment for IOTA enthusiasts to engage with the cryptocurrency.
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