When you say “mining” to millennials, most likely they would think about cryptocurrency mining in the first place! What is mining and how does it work? BTCMEX explained.
Throwback about mining by BTCMEX
Bitcoin, as well as other cryptocurrency mining, is a process performed by high-powered computers that solve complex math problems. By solving these problems on the network, they produce new coins, which is a reward for mining a block and make the payment network trustworthy and secure, by verifying its transaction information.
The Bitcoin block mining reward is reduced by half every 210,000 blocks, which happens approximately every 4 years. Learn everything about halving here.
Read the full article on BTCMEX.
Rediscover Crypto with BTCMEX!Please, note, that the article is a part of BTCMEX Blog, the views and opinions expressed here are the contributing author’s only, and do not necessarily represent the views of the company.
Julia Bulakh for BTCMEX