Cryptocurrency mining is the process of verifying and adding new blocks to a blockchain, the public ledger that records all cryptocurrency transactions. Miners use specialized computers to solve complex mathematical problems, and the first miner to solve a problem is rewarded with cryptocurrency. The process of mining is essential for the security and integrity of the blockchain, as it ensures that all transactions are verified and recorded correctly.
Mining is also important for the distribution of new cryptocurrency, as it is the way that new coins are created. The number of coins that are rewarded to miners is typically reduced over time, which helps to control the inflation rate of the cryptocurrency.
