White Paper 2020
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MINING
Proof of Work (PoW) & Proof of Stake (PoS), is the Scrypt hybrid
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 are being created.
Transactions must be included in a block. Miners then verify these
transactions through proof-of-stake. The miners check incoming
transactions against previous transactions on the blockchain. If no doublespends
are detected, the miners create a block with new transactions and
add it to HNC's existing blockchain.
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