What is mining in cryptocurrency ?

solarguy

Active Member
Mar 15, 2017
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In Dash, mining is a mature and competitive industry. Unless you have free electricity, or very close to it, and/or a way to benefit from the waste heat, it is unlikely that you will make much money mining Dash.
 

Suzat Fernandes

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Feb 2, 2018
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Cryptocurrency mining is same for all cryptocurrency.
Bitcoin Mining is a shared PC process used to secure and check bitcoin transactions—payments starting with one client then onto the next on a decentralized system. Mining includes adding bitcoin exchange information to Bitcoin's worldwide open record of past transactions. Each group of transactions is known as a block. Blocks are secured by Bitcoin miners and expand over each other building a chain. This record of past transactions is known as the blockchain. The blockchain serves to confirm transactions to the network as having occurred. Bitcoin nodes utilize the blockchain to recognize legitimate Bitcoin transactions from attempts to re-spend coins that have just been spent somewhere else.
 

CryptoBros

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Feb 3, 2018
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In blockchain-based technology (such as cryptocurrencies), mining is the process of assembling transactions into blocks and performing a time consuming computation to “seal” the block (it’s a little more complicated than that and consuming time isn’t the only way a miner can create a block but that’s too much detail for this answer).

This process is also called “confirming” transactions. Only when a transaction is included in a block (had been confirmed), the transaction is considered to have happened. In Bitcoin, 6 confirmations are generally required for a transaction to be considered immutable and safe to trust. That means a transaction must be included in a block and 5 more blocks need to be created after that for the transaction to be considered trustworthy.