An alternative term used in proof-of-stake based systems for the validation and addition of data blocks in a blockchain. It corresponds to the mining activity in PoW-based cryptocurrencies.
For example, each participant in the Tezos system may act as a baker, who owns more than 10,000 XTZ, but is more likely to be selected (and paid) for it, the more coins he possesses.
More Term Definitions
- Domain-Specific Language (DSL) Definition
- Second-Stage Financing Definition
- Search Engine Optimization (SEO) Definition
- Initial Coin Offering (ICO) Definition
- Ledger Definition
