Why Mining ⛏️ Profit Is Low 🔅

A Small Brief explainton on Mining ⛏️....

The process or hardware like GPU,CPU, that verifies or add new block or new transactions to the crypto blockchain is called as proof of work (note:-if a hardware help to verify the block is called as proof of work and The miner which complete block verification wins rewarded or transaction fees in form of Cryptocurrency .

source!

In middle of 2021 the ming profit was High compareing to other years as we can see in the below👇 pic

Basics of mining regards
Basically miners get more rewards when they verify more block or miners can also get more rewards when they have more blocks to verify in queue, for batter understanding i will explain with example.

For example :- * If a miners can mine one block use 50Mh/s combined all the miners we get 5000Mh/s, and the block need to verify this 140 block.

• It means we need 7000Mh/s but we have only 5000Mh/s so we have block queue for verification.

• So now mining well get more rewards because of block in queue they will pay more to verify fast ⏩

• Because of this reason we were get more profit in 2021 middle.

Now this is revealed it means

• If a miners can mine one block use 50Mh/s combined all the miners we get 80000Mh/s, and the block need to verify this 157 block.

• It means we need 7800Mh/s but we have 8000Mh/s so now we have no block queue for verification.

• So now mining well get less rewards because of block is not in queue they will not pay more to verify fast ⏩

Thank you for reading my blog till the end Kindly comment any suggestions you have on my blog 🙂