X11 PoW, is the consensus algorithm that HNC utilizes. Mining is the process by which transactions are verified and added to the public ledger, known as blockchain, and through which new Hellenic coins created.
Transactions must be included in a block. Miners then verify these transactions through proof-of-work and master node. The miners check incoming transactions against previous transactions on the blockchain. If no double-spends are detected, the miners create a block with new transactions and add it to HNC’s existing blockchain.
Each new block is then sent to nodes on the network. The nodes use the miners’ work to continue to verify and transmit transactions across the network.
When a transaction is made, it is then grouped with others that have been recently submitted within one of these cryptographically-protected blocks. Miners solve rather complex mathematical problems, passing the data within a block through the algorithm until their collective power discovers a solution.
- Helleniccoin Mining Link:
Mining is almost finished for HNC:
- After several halvings, now the block reward is only