What is Mining?

What is Mining?

Mining is the backbone that allows Bitcoin to function. New Bitcoins are created as a reward for miners who secure & verify payments in the blockchain.

What is ‘Bitcoin Mining’

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released.  Anyone with access to the internet and suitable hardware can participate in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.  The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards.  The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.

Are ‘Alt-coins’ Mine-able

Yes there are many Alt-Coins that are mine-able many which can even be done from your own computer.

More On Alt Coins

More on Bitcoin and Mining

If you have found this information of interest why not click here to see the most profitable way to mine successfully and how you can mine alt coins with no need to learn any coding

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