Crypto Academy Week 4 Homework Post for [@besticofinder]

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Hello everyone, Good Night....
This time I'll do the homework task given by @besticofinder in the 4th week of this crypto academy lesson. The content of this task is to clarify some of the questions about cryptocurrency mining. The questions and my explaination is below.

How Does Cryptocurrency Mining Work?

Cryptocurrency mining is done using computers with high computing power to solve complex mathematical problems. When sending a transaction to the blockchain, miners will verify every transaction that occurs on the blockchain network and create a new cryptocurrency. The computer will run the software that connects the miners to the cryptocurrency blockchain and solves mathematical problems. This computer is known as a node.

What is Mining Difficulty?

The main difficulty in carrying out mining is of course solving these complex mathematical problems. After collecting transactions in a block. Then to complete the new block required the hash of the previous block header. Then it has to solve a complex computational math problem called Proof-of-Work, and when a solution is found, new blocks are added to the blockchain and propagated to the network. Mining difficulties are usually followed by an increase in hash rate, which is the amount of computing power on the network so that the time needed to create new blocks will decrease.

What Are the Challenges for Cryptocurrency Miners?

The level of security is a major issue for miners. Hackers are getting more and more sophisticated to take advantage of the miners' resources. Hackers often send out links that result in miners being attacked by malware. That's how hackers steal. Apart from that, mining also requires three main things to do mining, namely a high power computer, a fast internet connection and electricity costs. Of course, all of that requires a large enough capital. But for those who have enough money, it is all an investment in the future.

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@besticofinder
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@steemcurator01
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