picawen
@picawen
Blockchain mining is the process of adding new transactions to a blockchain ledger, securing the network, and introducing new cryptocurrency tokens into circulation. Miners use powerful computers to solve complex mathematical puzzles, validating transactions and creating new blocks in the chain. This process is energy-intensive and requires significant computational power. - **Transaction Verification**: Miners collect pending transactions and verify their legitimacy to prevent fraud, such as double-spending. - **Block Creation**: Valid transactions are compiled into a new block, which is then added to the blockchain upon successful puzzle solution. - **Proof of Work**: Miners compete to solve cryptographic puzzles, with the first to solve earning a reward in the form of new cryptocurrency and transaction fees. - **Security and Incentive**: Mining secures the blockchain against attacks and ensures a decentralized network, with miners motivated by the prospect of rewards.
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