What Cryptocurrency Mining Means

We can confidently predict that cryptocurrencies https://asicminercompare.com/miners/bitmain/antminer-ka3/ will not go away anytime soon. Blockchain, the underlying technology that underpins several cryptocurrencies, has gone well beyond the digital currency business and is expected to find new uses this year.

Cryptocurrency miners have risen dramatically in recent years. Some of them make succeed and some of them failed. In this article, we compiled a fundamental cryptocurrency mining guide for beginners. Before jumping into the guide itself, it is always better to understand the definition of cryptocurrency mining.

Cryptocurrency mining is the process of a high-powered machine verifying a cryptocurrency transaction to get a cryptocurrency reward. The solution process includes verifying data blocks and adding transaction records to a public record (ledger) known as a blockchain.

A miner is a network node that gathers transactions and attempts to group them into blocks. When you make a transaction, the miner's node will capture and validate the transaction before adding it to the memory pool and putting it into a block containing many transactions.

A transaction hash (txid) is a unique identifier used to differentiate one transaction from another and it is the first stage in the mining process. A transaction for which coins suddenly appear, it’s usually the first transaction in a new block. This is called the Coinbase transaction.