Like most cryptocurrencies, Bitzec relies on miners to add transactions to the blockchain. While all nodes in the Bitzec network contribute to confirming the validity of transactions, it is the miners which take on the heavy lifting to secure the network. The main diffrence between Zcash and Bitzec mining is that the Blockreward of BZC decreases monthly
How it works
To secure the network, Bitzecuses a proof-of-work mining algorithm. Proof-of-work means that miners compete against each other using processing power to produce a new block on the chain. The first miner that succeeds completing the proper computation for each block is awarded with a network standard block reward and any fees for transactions they add to that block.
Bitzecuses a type of mining algorithm called Equihash. For more information read our blogpost “Why Equihash.”
