How does crypto mining work?

The mining technique is used for a cryptocurrency that is on proof of work

or which works on a proof of work technique. It basically solves complex problems

and verifies and adds new transactions to the blockchain.

In simple words basically, it’s a way to create new crypto coins.

There are three major concepts of blockchain that describe how do mining work. 

SHA-256, Proof of work, Public distributed ledger

bitcoin mining necessitates the solution of extremely difficult mathematical equations.

These equations are cryptographic with the key to solving each problem being

single alphanumeric string known as a target hash. A target hash begins with a string

of zeros then random letters and digits such as 000000000000002

To calculate these equations quickly miners must use specific technology.

A human can achieve it alone while bitcoin mining used to be possible with less 

expensive hardware such as a CPU in your computer or laptop.

The incentive to mine bitcoins is highly appealing. A bitcoin mining payment is

given in the form of a bitcoin each time when a miner solves an equation & 

receives a block to verify. The current reward for mining a block is 6.25 BTC

which is over two hundred thousand dollars at the time of this story.

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