What Is Bitcoin Mining?
Bitcoin mining is the process by which new bitcoins are entered into circulation. It is also the way the network confirms new transactions and is a critical component of the blockchain ledger's maintenance and development. "Mining" is performed using sophisticated hardware that solves an extremely complex computational math problem. The first computer to find the solution to the problem receives the next block of bitcoins and the process begins again.
Cryptocurrency mining is painstaking, costly, and only sporadically rewarding. Nonetheless, mining has a magnetic appeal for many investors who are interested in cryptocurrency because of the fact that miners receive rewards for their work with crypto tokens. This may be because entrepreneurial types see mining as pennies from heaven, like California gold prospectors in 1849. And if you are technologically inclined, why not do it?
GET SURFSHARK AND PROTECT YOUR BROWSING ONLINE AND PROTECT YOUR DATA
The bitcoin reward that miners receive is an incentive that motivates people to assist in the primary purpose of mining: to legitimize and monitor Bitcoin transactions, ensuring their validity. Because many users all over the world share these responsibilities, Bitcoin is a "decentralized" cryptocurrency, or one that does not rely on any central authority like a central bank or government to oversee its regulation.
However, before you invest the time and equipment, read this explainer to see whether mining is really for you.
Hi @aderadigital,
This is @detective-shibu from Steem Watcher. You have completely copied the post you mentioned. This kind of activity is not pleasant in the land of Steemit. Suggestion for you is to leave these tasks and share your writing. By doing this, there is a possibility of getting support from the Steemit team.
Source: https://www.investopedia.com/tech/how-does-bitcoin-mining-work/
thank you
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit