Is Crypto Mining
Crypto Mining is the process used by cryptocurrencies using the proof-of-work (PoW) model,
such as Bitcoin and several others, to generate new coins and validate new transactions.
The process requires extensive, decentralized networks of computers
worldwide that verify and secure blockchains.
Blockchains are virtual ledgers that record or document cryptocurrency transactions.
As a reward for using their processing power in the mining process, miners or computers on the network are awarded new coins,
also called transaction fees.
The two primary goals of Crypto mining include: generating new digital
coins and validating
the authenticity of cryptocurrency transactions on the blockchain.
Earlier, anyone having a competent PC could easily mine cryptocurrencies. However, things have changed recently, as specialized businesses or groups of people now do mining.
Crypto mining is profitable if the value of the earned coins is greater than the cost to mine