Cryptocurrency mining: what it is and how to do it

When we talk about cryptocurrencies we are delving into the universe of  digital currencies. Exactly as the term itself states we are talking  about a currency in the form of crypto, thanks to a complex blockchain  system. When mentioning cryptocurrencies inevitably we come to talk  about mining them. Let’s find out what it is specifically

When we talk about cryptocurrencies we are delving into the universe of  digital currencies. Exactly as the term itself states we are talking  about a currency in the form of crypto, thanks to a complex blockchain  system. When mentioning cryptocurrencies inevitably we come to talk  about mining them. Let’s find out what it is specifically.

What is cryptocurrency mining

Let’s start by talking specifically about cryptocurrency mining. By this  term we mean that activity apt to actually “create” new portions of  cryptocurrency. This is possible thanks to the use of the energy of very  powerful hardware that goes to extract very small portions of  cryptocurrency, obtaining new currency for one’s digital wallets. Going  down to the specifics, we speak of mining when a real decentralized  computational process takes place that serves to process, protect,  verify and synchronize all cryptocurrency-related transactions.  Cryptocurrency would then be the reward for the “mining process” through  which miners must use enormous amounts of energy.