DID YOU KNOW? Mining cryptocurrencies, such as Bitcoin, is the process by which transactions are verified and recorded on a blockchain network. Miners, using high-powered computers, solve complex mathematical problems to validate transactions and create new blocks in the chain, in exchange for a cryptocurrency reward. The details are: Transaction validation: Miners verify the legitimacy of transactions and add them to a new block in the blockchain. Creation of new blocks: Each block contains a set of verified transactions and is linked to the previous block, forming an immutable chain. Mathematical problem solving: Miners compete to solve complex mathematical problems that require a large amount of computational power. Rewards: The first miner to find the solution receives a reward in cryptocurrencies, such as Bitcoin, which are introduced into circulation. Network security: This process ensures the security and transparency of the blockchain network. PoW vs. Other methods: In Bitcoin, mining is based on Proof-of-Work (PoW), where miners must prove they have performed significant computational work to verify transactions. Other cryptocurrencies may use different consensus mechanisms, such as Proof-of-Stake (PoS). $BTC