It is the process of verifying and recording new transactions on the blockchain network, which is done using powerful computers that solve complex mathematical problems. As a reward, miners receive cryptocurrencies.
Here’s a simplified explanation:
🔧 How does mining work?
1. Transactions: When someone sends cryptocurrency (like Bitcoin) to another person, this transaction is sent to the network.
2. Aggregation: Several transactions are grouped together in what is called a "Block."
3. Solution: Miners attempt to solve a difficult mathematical puzzle (which requires a lot of computational power).
4. Reward: The first one to solve the puzzle receives:
New cryptocurrencies (e.g.: Bitcoin).
Transaction fees within the block.
5. Addition to the blockchain: The block is added to the blockchain and becomes part of the permanent public ledger.
💡 What is the purpose of mining?
Securing the network: Mining prevents manipulation and keeps the system decentralized.
Creating new coins: Mining is the primary way to create new coins in some networks like Bitcoin.
⚠️ Can anyone mine?
Yes, but:
It requires powerful hardware (ASIC or GPU).
It consumes a lot of electricity.
Competition is high, especially in large networks.
If Mr. President Trump has a simple agreement with the Conan token... everyone who buys the Conan token right now is very happy 😅😅😅 don't waste your money
#SoftStaking is a very practical feature I have recently used on Binance. It allows users to automatically earn holding rewards without locking up or freezing assets. In other words, as long as you hold cryptocurrencies that support Soft Staking (such as ATOM, DOT, NEAR, etc.) in your Binance account, the system will automatically calculate and distribute rewards for you, without manual operation, and it does not affect your ability to buy, sell, or withdraw at any time, truly achieving "passive income."
The activation process is very simple: just check the supported cryptocurrencies in 【Wallet】 - 【Earn Coins】 - 【Holding Earnings】 and hold them, Soft Staking will automatically activate without additional settings. This mechanism is very suitable for users like me who hold coins for the long term while hoping for flexible capital flow. Compared to traditional fixed-term staking, Soft Staking allows assets to maintain liquidity while also earning income, providing a very good experience.
I have personally used Soft Staking for a while now, and every day I can see a small reward in my earnings record. Although the individual amount is not large, it adds up over time, resulting in a considerable income in the long run. Moreover, Binance, as a leading global trading platform, has a secure platform, transparent earnings, and a very stable and reliable experience.
If you are also holding some mainstream cryptocurrencies on Binance for the long term, you might as well learn about #SoftStaking and seize this low-risk, high-flexibility passive income opportunity!
#BinanceTurns8 🎉 Cheers to 8 years since graduation! Life's a wild ride — and it’s just getting started. Sending out 8000 red envelopes today to celebrate 🧧💃 Don’t miss it!
🚀 $BTC hit a new all-time high, stabilizing around US$123,000 as investor optimism builds ahead of major upcoming legislation. The price briefly touched US$123,236 before experiencing minor fluctuations, while the total crypto market cap approached US$3.8 trillion.
早安❤️
#BTC #ETHBreaks3k #USCryptoWeek $WCT $XRP {spot}(XRPUSDT) {spot}(BTCUSDT) {spot}(WCTUSDT) GIFT 1 🎁🎁🎁 GIFT 2 🎁🎁🎁
🚨 MAXIMUM DIFFUSION MODE ON!! EVERYONE GO VOTE FOR BOB NOW ON X 🚨
We need every $BNB holder to step up!!
If you’re part of the BNB Chain, then you already know: ONE OF OUR BUILDERS NEEDS YOUR VOTE.
BOB it’s a movement built right here on BNB. If $BOB wins, the entire BNB Chain wins: more visibility, more adoption, more trust in the fastest, lowest-fee blockchain in the world. 🔥
Let’s prove that BNB Chain supports its own.
👉 GO VOTE FOR BOB on the @BNB_Hub official account on X and make your voice count.
🔥🔥 Today’s Bitcoin all-time high will look like a mere fraction compared to where it's headed in the next 5–10 years
🎉 Don’t forget to join the #BinanceTurns8 celebration! 🎉 Click the link below for a chance to win 1 BNB! 💰👇 https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_P6U9O #BTC120kVs125kToday