Steemit Crypto Academy Contest / S9W5 - "Cryptocurrency Mining".| 25% to null

Hopefully everyone will be good here. Finally I have got chance to share my acknowledgement in Steemit Crypto Academy Contest / S9W5 - "Cryptocurrency Mining". before the dead line of this engagement challenge. That's an other informative Theme of season 9. Hopefully my knowledge will be fulfill the requirements of this engagement challenge.

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What is cryptocurrency mining? How does it work? Can STEEM token be mined?

• What is cryptocurrency mining?

After reading the the main idea about cryptocurrency mining , I have some come to know that the procedure to create new Bitcoins by solving the complicated quantitative process , analysis deeply and then varified the transactions in the currency.

Hence, Cryptocurrency Mining is not a simple to varify the new generating transactions in the Blockchain for cryptocurrency. The crypto minors give r priority to mining Bitcoin currency because of its high value in digital market.

^{This is the main logo in cryptocurrency for crypto Mining}

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• How does it work?

It can be done by going through many difficult mathematically complications and deeply analysis to varify new transactions by using in Practice Method Proof of Work PoW in crypto market.

With respect to this method, The minors spend couple of hours on strong computers and have effecient technically network for completing the mining process by going through many complicated quantitative analysis and solve the comprehensive puzzles to meet their mining targets.

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• Can STEEM token be mined?
  Steem is the main currency in the Blockchain that can only be rewarded by the Steemit curators through participating in contests as organized in different Communities and also by sharing their quality contents. In return as a reward we get Steem. This can also be mined in Blockchain by using different ways .

In Steemit, There are apparently 21 Witness of Steem Blockchain which are used to mine steem tokens. In the top of the list steem chiller , Steem justyy and on Bangla witness on the top for Steem token mining and also accountable for the verification of new transactions in steem Blockchain.

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Name The various types of mining methods for cryptocurrency

There are different ways in using by different Blockchain to varified the new transactions in crypto world. There are going to share with you some of well known and in practice mining methods for cryptocurrency.

• Cold Mining
• CPU Mining
• GPU Mining
• ASIC Mining

Method	Significance in cryptocurrency
Cold Mining	This sort of mining method is very common just because of its good offer leads to handsome earning that only can get through cold mining method without having to invest in any equipment or energy.
CPU Mining	This is also in practice method in which minors use CPUs for cryptocurrency mining. The good point of it , The generating coin will be payback when Bitcoin wasn't that widespread.
GPU Mining	This is an other best option for mining cryptocurrency by low costing and effective results . In this method motherboard, graphic cards , rig frame and processer is used in Crypto world.
ASIC Mining	This term stands for Application Specific Integrated Circuits . This effective Method is also well designed to crypto mining. Special Devices are used to crypto mining to mend single task by solving complicated algorithms.

Have you ever been involved in cryptocurrency mining? If yes can you share with us how you mined this coin?

To be honest, This is my second participation and publication as well in @crypto-academy community to explore information on crypto world. I really passionate to get knowledge about it. But I have no resources to access for crypto Mining just because of lack of guidance and many required resources and financial support to meet the requirements in cryptocurrency world for crypto mining.

Give some of the Importance and benefits of cryptocurrency mining

After Sharing my reviews on above and researched on it. I came to on one point that in this digital world , crypto mining is one of the well known in practice method used in all over regions of the world to earn handsome finance. So they have some of sharing with you benefits of cryptocurrency mining

• In crypto world, the importance of Blockchain is rapidly growing just because of rising value of cryptocurrency. If a minor hold his self in crypto world then he able to get handsome rewards in return of cryptocurrency mining.

• In crypt world , Different Blockchain are used to varify and generating transactions through crypto mining. Miners involve actively this will helpful to effective growth of Blockchain.

• If a minor have a good acknowledgement about crypto world and mining but having low cost. Can be work with consistency and effort used to get rewards in return. This is golden opportunity for those who are good in and start their digital business in Crypto world by using cryptocurrency mining.

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Name some of the challenges of cryptocurrency mining

I have no practical experience of cryptocurrencies mining. But definitely whoever's wan to engage their self for this mining process, He must have to face many challenges to complete their crypto mining processing. But due to spending my time on it I came to know some dis advantages of cryptocurrency mining.

• Used heavy software and electricity to perform cryptocurrency mining. That's must be high cost and consume un limited electric unites that may cause electric shortage.

• At the passage of time , Miner's are gradually increase for cryptocurrency mining to get back handsome rewards. Due this price volatility is a major challenge to face.

• No of miners increase Because of of process of cryptocurrency mining is become more complicated and if miners in able to solve the puzzles then their quality time and worthy gadgets have no value to continue work.

• Due to many risky factors, along with Pakistan and many more countries have no allowed to use crypto mining process in practice for earning. That's also may cause of global warming because of its consumption energy by using heavy machines which needs heavy units of electricity and in return extract heat which is unfriendly for nature.

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^{I would like to invite my Steemit Fellows who are good in Crypto world @ashkhan @drhira @malikusman1 @suboohi and goodybest to share your views. Thanks for appreciation and support}

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Kind Regards

@uzma4882