Hello everyone ,
I hope we are very well I am also well and today I am going to crypto academy homework task 4 for which is introduction to crypto mining, the topic is really interesting I am not the expert in this topic, but I have did my research for it before entering steemit so here I will share what have I learn from different way and different human.

In traditional means of banking transactions go through his central body where they are controlled verified and updated but the advent of after currency has limited the central body with its decentralized system which uses distributed ledger known as blockchain. In blockchain technology transaction are publicly available and stored in different computers. In blockchain technology transaction are to be verified just like the traditional banking system and added to the the ledger this is done by sloving cryptography algorithms by miners.

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How to cryptocurrency mining works?

The concept of copper currency is mining simply involves the process of verifying the transaction to prevent double spending. In physical currency double spending might not be an issue because one can hardly spent some dollar to buy the same product twice but in crypto currency the reserves is the case. it is possible if they are not crypto miners to verify proper currency transaction on user might be dishonest by issuing one particular cryptocurrency to acquire different asset.

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Blockchain technology proof of work system is one of the most important algorithms. It is adopted by many cryptocurrency Etherum and Bitcoin there is also proof of stake system too.

The major difference between to is that your system requires a very powerful rig to achieve faster mining while POS system enables a person to validate block transaction depending on the quantity of the coin the person possessed. Also in POW system miners receive fragments of what thay mine or mined block but in PoS user are compensated using transaction fees.

How to mining difficulty?

there are many factors that influence the user who is always looking for the advantage so that the work is faster and obtain greater benefits there that take into account the following factors.
Number one factors electricity consumption.

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This is one of the most important when mining any cryptocurrency since it will depend on this factor if it is possible or not to mine such a currency, there are machine's such as those that consume a lot of electricity and generate very little mining power that the sell to a low cost to be used in countries. Where the cost of electricity is very low or null, but in turn there are machines with much more power and the only the disadvantage of them is their high commercial cost.

Number 2 mining power is very crucial for mining, if the mining power is low we would have to have many machines to generate something that is profitable for the user so the community creates systems that allowe them to mine with low or high power but that will benefit the user. All the modes use a block that every 2016 blocks changes its difficulty this currently happening every two weeks. When an army of miners is created in a pull this makes life easier for the minor since they generate a block in a certain time and then the Loot is divided depending on your power.

every 2016 blocks 2 weeks the mining power changes for this we must be updating our mining machines or our cards to obtain the highest profit.

End of the mining difficulty space to mine the place has to be properly prepared refrigerated condition to place the machines or Gpu this is space has to meet certain requirements that are cooling air Intel and outlet, good properly prepared electrical connection, and a set of additional implement such as anti noise very important for user comfort

The Challenges for cryptocurrency mining?

one of the great challenge that will always be present will be the difficulty of acquiring mining equipment or devices in a short time or at an economical price since as the number of minors grows, it becomes difficult to acquire them

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In additional to the competition and arrival of other miners there are other challenges that we must review when mining, such as the high cost of electricity depending on the country where we are. Although the consensus PoS or proof of stake, is a protocol that allows consuming less energy when mining, also large- scale mining companies use their own source of energy either will or hydroelectric and try to locate they are main of a office in place where the temperature is lower, that is a cold climate and does reduce electricity consumption due to heart dissipation.

Finally, I have done a lot of study on the above issues as a newcomer to this platform and the the arrangements for your post

Cc: @besticofinder @steemcurator01 @steemcurator02