Mining

Mining, in the context of cryptocurrencies like Bitcoin, is the process of validating and adding new transactions to the blockchain while creating new units of the cryptocurrency. Miners employ powerful computers to solve complex mathematical problems, known as cryptographic puzzles, to validate transactions and secure the network. Successful miners are rewarded with a certain amount of cryptocurrency as an incentive for their computational work and contribution to maintaining the blockchain's integrity. Mining involves a competitive race, as miners compete to be the first to solve the puzzle and add a new block to the chain. It is a crucial component of decentralized cryptocurrencies, ensuring transaction validity and security.