From our articles you already know what a blockchain is - a chain of blocks where transactions are recorded in each block. But transactions can be wrong, someone can even try to draw a million bitcoins. That is why you need to somehow check that the new block in the blockchain corresponds to the previous block. This requires a mining cryptocurrency  process.

Mining is about solving a math problem when your computer first has to "guess" a hash code. This is a matter of luck, because the machine picks up the code by accident. Thus, the user with the highest power rating will guess the most hashes and will be the first in this race, which is repeated every 10 minutes. That's how much mining takes on average.

Translated from English, the word mining means "mining" - meaning precious metals, minerals and ores. In the crypto community, this word has the same meaning, because it requires tools (equipment), resources (energy) and hard work (machines) to achieve results. But unlike gold or diamonds, users extract cryptocurrency. By the way, bitcoins are born only in this way - each new block brings us 6.25 BTC.

As you may already know, bitcoins are clearly limited in quantity. 85% of the total is already in circulation, and the last satoshi we will receive in 2140. However, experts believe that in a few decades bitcoin miners will have to live on the commissions they receive for processing transactions.