The importance of money as a form of judging the ownership of a person’s assets is known since late stone age. It started with stone nuggets, then iron tablets followed by gold and silver coins and now paper money and electronic money. One notable fact is that throughout the timeline, the number of money people possessed increased and the value of each unit decreased. This happened till a stage when the banking system had to finally digitalize their currency, and it is all stored in reserve banks in a digitalized form. One step ahead of the agenda is the concept of Cryptocurrencies. This is different from money stored in banks which can be accessed indirectly through debit/credit cards and online banking.

What is Cryptocurrency
A Cryptocurrency is an online version of money, a digital asset to be precise. The name is derived from the Cryptography, which is used to encrypt transactions and control the production of the currency. It is a strictly monitored process, as it uses the Blockchain Technology.

What is Mining
To mine cryptocurrencies you need a powerful hardware as well as software combination. Since the value of a currency depends on the number of units of the currency available in the market, it should be a carefully monitored and a very reliable process. Cryptocurrency mining is simply the process of generating new units of the Cryptocurrency.