A Cryptocurrencies is another form of money that can be exchanged online for goods and services by paying real money. “Cryptocurrency mining” work using a technology called a Blockchain. Blockchain is a decentralized technology that spread across many computers over a network that manages and records transactions. Cryptocurrency mining is the process where specialized computers, also known as nodes or mining rigs, validate blockchain transactions for a specific crypto coin and, in turn, receive a mining reward for their computational effort. It is a simple process of creating new crypto coins by solving complex mathematical equations to guess a hash code of a block from a blockchain network. When a person buys cryptocurrency, the transaction details are entered on a distributed ledger, called the blockchain, Once verified, the transaction is locked onto the blockchain and everyone can see that the transaction is verified and completed successfully. It is also the way that new transactions are confirmed by the network and a critical component of the maintenance and development of the blockchain ledger. Crypto Mining is done using specific hardware which should be powerful enough to solve an extremely complex computational math problem of Blockchain. How does “mining cryptocurrency” works • The cryptocurrency blockchain is built on the basis of transactions in a cryptocurrency in which the miners help to verify the transactions. • Now many transactions daily and all these separate transactions are added to a list of other transactions to form a block in the blockchain. • When that unconfirmed block is added to the blockchain, A Hash and other types of data are added to the unconfirmed block. • Miners verify the hash to ensure if the transaction is legit. • Once the block is confirmed it gets published in the Blockchain, this is the time for celebration because the proof of work is now complete. This is the time-consuming process of solving the hash and proving to others that it is done legitimately that can be verified. https://techiespost.com/how-does-cryptocurrency-mining-work/



