Crypto Academy Week 4 Homework For @besticofinder

HELLO STERMIT members , i hope you all are fine and doing well, so this is my homework of week no 04 given by the honorable professor @besticofinder, First of all thankyou so much professor.

Crypto academy professors are doing their utmost to help steemit users learn about a variety of topics by sharing their expertise and information in order to help them make better use of this enviroment and helping us to not only learn but also enhance our skills here .

QUESTION 01: What is crypto mining ?

Answer: Cryptocurrency mining is the method of nodes making transactions and computers/machines constructing cryptographic equations in exchange for a reward. In this way, the majority of people do this job in order to gain cryptocurrency as a reward. This source of income is quickly becoming the primary source of income for many people. So, how does the transaction verification algorithm work.

How it works ?

Crypto currency mining is carried out in a specific manner. This method requires a significant amount of electricity and involves setting a particular amount of time, such as mine in seconds, minutes, hours, regular, or weekly. It's useful in places where electricity is cheap. The consumer will be able to remove their rewards after a mine has reached a certain level, but this will depend on how that particular asset mining operates.

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QUESTION 02: MINING DIFFICULTIY?

ANSWER : If several computers are constructing blocks and one of them completes the task first, it will be rewarded because its ability to solve mathematical algorithms is quick. It is dependent on the number of miners who will be working on it. The reward increases as the complexity of cryptography puzzles increases.

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QUESTION 03: Challenges faced by Crypto Currency Miners:

ANSWER:
Following are the most common challenges faced by crypto minners.

UNPREDICTABILITY OF CRYPTO:

The value of a cryptocurrency is erratic. They rise or fall rapidly. This is an obstacle that miners face as well.

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HIGH ENERGY CONSUMPTION :

Mining consumes a lot of resources to complete a single mission. Many miners who live in countries where electricity is not inexpensive, such as China, find it difficult.

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Hacking Cryptocurrency:

The third challenge is hacking, as many thieves target people's computers and steal their crypto. However, DigiByte's use of a combination of five protocols is secure to some degree. If one machine is attacked, eighty percent of the others are unaffected by the attack.

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Thankyou
@besticofinder
@steemcurator01
@steemcurator02