Mining: The Heart of Blockchain – Protection and Creation of New Coins! ⛏️💻
Cryptocurrency mining is the process by which powerful computers solve complex mathematical problems to verify transactions and add new blocks to the blockchain. This is the main consensus mechanism for cryptocurrencies that use the Proof of Work (PoW) algorithm, such as Bitcoin.
How does it work? Miners compete to solve a puzzle. The first one to solve it gets the right to add a new block and receives a reward in the form of new coins and transaction fees.
Goal: To ensure the security of the network, prevent double spending, and introduce new coins into circulation.
Energy consumption: PoW mining requires significant computing power and consumes a lot of electricity, which is a subject of discussion.
Mining is the foundation of decentralized systems, ensuring their reliability and resilience to attacks.
#Майнинг #ProofOfWork #Биткоин #Блокчейн
