What is mining. Mining is the process of solving complex cryptographic problems to add new blocks to the chain.
02 Jan 2023, 12:00
What is mining?
⚙️Mining is the process of solving complex cryptographic problems to add new blocks to the chain. Miners get a small reward for doing this. However, the more people who want to do it, the harder it is to solve the block.
📊 The difficulty depends not on the number of miners directly, but rather on their total hash rate. This is a relative measure of the processing power of all the devices that are mining at the moment. In the case of Bitcoin, this rate is growing every day, as more and more people start mining for rewards!
Learn more about cryptocurrencies on our website
Same news in other sources
1ChangeNOW TokenNOW #1043
02 Jan 2023, 12:00
What is mining?
⚙️Mining is the process of solving complex cryptographic problems to add new blocks to the chain. Miners get a small reward for doing this. However, the more people who want to do it, the harder it is to solve the block.
📊 The difficulty depends not on the number of miners directly, but rather on their total hash rate. This is a relative measure of the processing power of all the devices that are mining at the moment. In the case of Bitcoin, this rate is growing every day, as more and more people start mining for rewards!
Learn more about cryptocurrencies on our website
What is mining. Mining is the process of solving complex cryptographic problems to add new blocks to the chain.
What is mining?
⚙️Mining is the process of solving complex cryptographic problems to add new blocks to the chain. Miners get a small reward for doing this. However, the more people who want to do it, the harder it is to solve the block.
📊 The difficulty depends not on the number of miners directly, but rather on their total hash rate. This is a relative measure of the processing power of all the devices that are mining at the moment. In the case of Bitcoin, this rate is growing every day, as more and more people start mining for rewards!
Learn more about cryptocurrencies on our website