What is Mining Algorithm?

A mining algorithm is a component of a Proof-of-Work (PoW) blockchain. A mining algorithm is typically a cryptographic puzzle that requires significant computational power to solve. This secures the network while financially incentivizing the miners that secure it (through mining rewards). Popular blockchain mining algorithms include secure hash algorithms (SHAs) SHA-256 and SHA-3 — as well as Ethash, Scrypt, and Equihash.