Can anyone mine cryptocurrencies (How does crypto mining works)?
Crypto mining requires the setup of a computer hardware network of high cost.
This complex setup is known as Mining Rig.
Mining Rig is
used to mine bitcoins and other cryptocurrencies.
Anyone with fast Mining Rig can mine cryptos from a computer or laptop at home.
It does require some technical knowledge to configure and manage such a complex setup .
Crypto mining is the process of generating new crypto coins & validating each crypto transaction on the blockchain network .
Blockchain is a decentralized ledger which contains real time transaction data.
Every 10 minutes a new block is directly tied to the previous block and forms a chain.
Only validated miners can update the transaction in a distributed ledger to maintain the security of the network.
The role of the crypto miners is
to secure the blockchain network.
And
as a reward, they get crypto coins and transaction fees.
Find out more about,
2) Proof of Work
3) Hash
1) Hardware Requirement
4) Crypto Mining Pools