Cryptocurrency mining is the process by which new units of a cryptocurrency are introduced into circulation and transactions are verified and added to the blockchain ledger. This involves solving complex computational puzzles, a process known as proof-of-work, using specialized hardware. Successful miners are rewarded with newly minted coins and transaction fees.
Context
Cryptocurrency mining remains a prominent topic in crypto news, with discussions often focusing on its energy consumption, the environmental impact, and regulatory scrutiny. Reports frequently cover advancements in mining hardware, shifts in mining difficulty, and the geopolitical distribution of mining operations. Understanding this fundamental process is essential for grasping the economics and security of many prominent digital assets.
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