[https://www.google.com/search?q=How+cryptocurrency+mining+works&client=ms-opera-mini-android&channel=new&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjh5Jb2ipvvAhUkuaQKHeb6A8QQ_AUIBygC&biw=360&bih=631#)

INTRODUCTION

Good day steemians. I feel good each time I participate in the contest. Learning from one of the crypto professors @besticofinder is awesome and we'll educative. Tho learning crypto isn't an easy thing. Below are my answers to the task 4 homework given.

HOW DOES CRYPTOCURRENCY MINING WORK?

• What Is Cryptocurrency Mining ?
  Cryptocurrency mining is the process of transactions between crypto users which are been verified and added to the blockchain public ledger. When we talk about cryptocurrency mining, bitcoin can be said to be the most popular and stable example of a mineable cryptocurrency, tho I have to say that it's not all cryptocurrencies are mineable. Cryptocurrency mining is not an easy task cause you have to spend quality time trying to solve puzzles that your fellow miner has not completed but after the process, the miner would as well be rewarded with same cryptocurrency as for a work well done.Cryptominers provide security and help confirm transactions. Without cryptominers the network would be attacked and dysfunctional. Most Bitcoin mining is done in large warehouses where there is cheap electricity.

WHAT IS MINING DIFFICULTY ?

This is a measurement unit used in the process of cryptocurrency mining which indicates the difficulty in solving a complex cryptographic puzzle. There's huge difficulty in mining new units and that either increases or decreases over time depending on the number of miners in the network.The difficulty is simply the measure on how difficult cryptominers experience to mine a Bitcoin block i.e getting a hash for a given target. There are few times when cryptominers experience very high difficulty which means large computing power for mining the same number of blocks and making the network well secured against attacks will be needed.

WHAT ARE THE CHALLENGES FOR CRYPTO CURRENCY MINERS ?

Cryptocurrency miners' exchanges are digital then exposes it to hackers and malwares to gain access to thousands of accounts and digital wallets where the cryptocurrencies are being kept.

1. High Energy Costs
   To Increase your progress in mining chances, then you have to combine over hundreds of ASIC together to solve a problem. So when you do this, it would absorb extremely high power output which will cost you excessive high bills in electricity though cryptominers can go for less power methods which one of them is "Proof of Stake" consensus which guards networks by staking of cryptocurrency.

2. Vulnerability For Cryptojacking
   The need for decentralization is to affirm security right ? Well, currently hackers are getting well sophisticated at tapping your resources. Moreover, power concentration is not only Influenced by malware attacks but cyber criminals now adopt a tactic to controllably mine cryptocurrencies from people’s devices. Though there's a solution which is to improve to PoS adopted by DigiByte, cause it uses a hybrid of five methods on its blockchain platform, and makes it's strong means that crypto miners can use to defend against this form of attack.

3. Centralization
   Cryptocurrency exchanges that are centralized are platforms you either buy or sell your digital assets. You have to trust the third party to observe the transaction and secure the assets both for the buyer and the seller. Most cases, centralized cryptocurrency exchanges gives their users flat pairs of currencies at stable prices.

• Conclusion
  Thank you so much Professor @besticonfider for the lectures. Cryptocurrency mining seems to be the strong propeller and growth of most Cryptocurrencies like bitcoin. Thanks plenty to my mentors @brightobias @talktofaith @focusnow @ngoenyi.