Cryptocurrencies are digital currencies backed up by blockchain technology. It operates on a decentralized network of computers called nodes. Since cryptocurrencies are decentralized and are not managed by centralized authorities like banks or financial institutions, they undergo a process called crypto mining.

Crypto mining involves validating every crypto transaction before adding it to the blockchain ledger. Let’s drill deeper into the concept of crypto mining with relevant images and descriptions in detail in this blog.

Crypto Mining: What it is?

Crypto mining is a complex technological process of validating cryptocurrency transactions before adding them to the distributed ledger. Thus, in the verification process, the miners generate a new set of cryptocurrencies. So, more than a validation process, crypto mining is about minting new crypto coins as well.

Crypto mining is a mandatory process as no central authority like banks or government is involved in cryptocurrency transactions. Since cryptocurrencies are decentralized and distributed across the network of computers, miners worldwide verify and validate the crypto transactions. Thus, crypto transactions are highly secure as various miners from various countries validate rather than a single entity.

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