What is Crypto mining?
Crypto mining, in simple terms, is a method for creating new digital coins. However, the process of crypto mining goes much deeper, and it involves a vast number of functions that should be executed before a coin is created. It is the process used to validate cryptocurrency transactions executed through a blockchain and subsequently recorded on a distributed ledger. The process in which crypto mining is performed eliminates the possibility of double-spending of a specific digital currency. Depending on the digital assets, mined coins serve as a reward transferred to miners based on their role in securing the network.
Crypto mining can be performed by individuals or organizations that have the relevant equipment. However, some countries might categorize cryptocurrency mining as an illegal activity.