Cryptocurrency mining is the process of validating transactions on a blockchain network and adding them to a public ledger. Miners solve complex mathematical problems using computational power (Proof-of-Work) to verify transactions. The first miner to solve the problem adds a block of transactions to the blockchain and earns a reward in cryptocurrency. This process ensures security, prevents fraud like double-spending, and introduces new coins into circulation. However, mining is resource-intensive and has significant energy demands.
Source: Shiraverse - How Cryptocurrency Mining Works
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