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