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What is cryptocurrency mining?

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What is cryptocurrency mining?


 

Digital currencies are generated all over the internet by anybody running an application called a digital currency miner.

 

Mining requires a certain amount of work of each reward block of coins. This work is done by solving complex mathematical problems while simultaneously verifying transactions on the digital currency network, All this work is done by software running on a specialized computer mining hardware.

When two people exchange a digital coin over the internet, other people record and verify that transaction. When you're mining hardware has computed and recorded transactions and you are lucky enough to complete a block, you are rewarded for this work with new digital coins from the network.

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