What does mining look like?
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Imagine that to win the contest, you need to collect a certain number of “lucky” tickets (in a six-digit ticket number, the sum of the first three digits equals the last three)
It’s a challenge, isn’t it? It will take you a long time to ride that bus and check all the conductor’s tickets, but eventually you will collect the right number and win the contest, winning a reward. So it is in mining: the equipment solves complex cryptographic problems – part of the encryption process that protects transactions from cybercriminals and third-party access for free bitcoin mining guide . The outcome of solving the problem correctly is the formation of a new block. The reward for creating a block is in the cryptocurrency whose block was solved.
The process of mining is also important because it involves the issuance of cryptocurrency (the release of cryptocurrency into circulation). The fact is that each cryptocurrency is created in a limited quantity based on blockchain technology. Having solved the block and been rewarded for it, the miner puts a new coin into circulation.