What is the mining really means? - Deepstash
What is the mining really means?

What is the mining really means?

To mine a block of transaction of a blockchain based cryptocurrency, miner has to perform mathematical calculation such that the hash of a block has some preceding zeros.

In case of Bitcoin, the preceding number of zeros is kept such that it takes ~10 mins to find a hash.

So basically, the more faster the hash calculations of the miners gets, the more harder Bitcoin makes to find the hash by increasing the no. of preceding zeros in a hash.

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Knowing underlying mechanism for mining a currency is more important these days for easy transition to Cryptocurrency based economy.

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The Mining Process

The process of 'mining' is used to add new capital in the cryptocurrency database.

Mining is a verification process that works on the blockchain using a massive amount of computing power. The 'miners' who use such strong computing power 'earn' cryptocurrency for each verificati...

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