# Mining #Cryptomining 1. A practice in [[Proof of Work (PoW)]] systems where computers are dedicated to solving math problems in order to claim the right to mine a [[Block(s)|block]] of data and to get an amount of [[Crypto (cryptocurrency)|cryptocurrency]]. How it works in some more detail: the cryptographic [[Mining|mining]] piece involves solving [[Cryptography|cryptographic]] puzzles. A computer needs to find a [[Nonce|nonce]] to combine with unverified [[Transaction(s)|transactions]] to output a verified string. 2. [[Crypto (cryptocurrency)]] mining is the process of solving equations in a [[Proof of Work (PoW)]] [[Consensus Mechanism (algorithm)|consensus mechanism]] to verify transactions and add new [[Block(s)|blocks]] to the [[blockchain]]. Computers that support a blockchain network are called [[Node(s)|nodes]], and the process by which they solve complex equations is called mining. [[Miner(s)|Miners]] are those who operate these computers. For their efforts, they are compensated with a [[Mining Reward|mining reward]], typically in the blockchain’s native cryptocurrency. 3. The process by which [[Node(s)|nodes]] in [[Bitcoin (blockchain)]], [[Ethereum (blockchain)]], and many other [[Blockchain|blockchain]] systems (those that use the consensus protocol known as [[Proof of Work (PoW)]]) add new [[Block(s)|blocks]] to their respective chains and generate new crypto-tokens. 4. The process of trying to ‘solve’ the next block. Through mining, the users secure the network and verify computation and transactions. Currently, systems including Bitcoin’s [[Blockchain|blockchain]], [[Miner(s)|miners]] are incentivized to validate transactions based of off [[Proof of Work (PoW)]] protocol, fees, and protocol subsidies. PoW typically requires huge amounts of computer processing power. [[Proof of Stake (PoS)]] is the upcoming, virtualized system of incentivization for validating [[Transaction(s)|transactions]]. Both of these systems provide economic guarantees and a form of consensus by bet. But, Proof-of-Stake relies more heavily on the betting concept. 5. The process of new blocks creation and processing transactions in the [[Blockchain|blockchain]] network. For this, the [[Miner(s)|miner]] receives a reward in the form of tokens or coins of [[Crypto (cryptocurrency)|cryptocurrency]]. 6. Mining is the act of validating [[Blockchain|blockchain]] transactions and competing for a solution to a mathematical puzzle to append a new [[Block(s)|block]] in the blockchain. The necessity of validation warrants an incentive for the [[Miner(s)|miners]], usually in the form of coins. 7. The verification of transactions on a [[Blockchain|blockchain]] network, in which [[Transaction(s)|transactions]] are added as entries into the blockchain [[Ledger|ledger]]. 8. [[Bitcoin (blockchain)]] mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security. As a reward for their services, Bitcoin miners can collect [[Transaction Fee|transaction fees ]]for the transactions they confirm, along with newly created [[bitcoin (BTC)]]. Mining is a specialized and competitive market where the [[Block Reward|rewards]] are divided up according to how much calculation is done. Not all Bitcoin users do Bitcoin mining, and it is not an easy way to make money. 9. Is the process by which transactions are verified and added to a [[Blockchain|blockchain]]. This process of solving [[Cryptography]|cryptographic] problems using computing hardware also triggers the release of [[Crypto (cryptocurrency)|cryptocurrencies]]. 10. The process by which [[Transaction(s)|transactions]] get verified, bundled, and added to the [[Blockchain]]. It's an essential part of any [[Crypto (cryptocurrency)|cryptocurrency]], because it processes all transactions. 11. Is the act of validating [[Blockchain|blockchain]] transactions. The necessity of validation warrants an incentive for the [[Miner(s)|miners]], usually in the form of coins. In this [[Crypto (cryptocurrency)|cryptocurrency]] boom, mining can be a lucrative business when done properly. By choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. 12. Mining is the act of creating valid Bitcoin blocks, which requires demonstrating [[Proof of Work (PoW)]], and [[Miner(s)|miners]] are devices that mine or people who own those devices. Synonyms: Mining || Miner 13. A process where transactions are verified and added to a [[Blockchain|blockchain]]. It is also the process where new bitcoins or certain [[Altcoin(s)|altcoins]] are created. In theory, anyone with the necessary hardware and access to the internet can be a [[Miner(s)|miner]] and earn income, but the cost of industrial hardware and electricity has limited mining for [[bitcoin (BTC)|bitcoins]] and certain altcoins today to large-scale operations. 14. Mining is the process of adding [[Transaction(s)|transaction]] records to Bitcoin’s public ledger of past transactions or [[Blockchain|blockchain]]. This ledger of past transactions is called the blockchain as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place. Bitcoin [[Node(s)|nodes]] use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere. Mining is intentionally designed to be resource-intensive and challenging so that the number of blocks found each day by [[Miner(s)|miners]] remains steady. Individual [[Block(s)|blocks]] must contain a [[Proof of Work (PoW)]] to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the [[Hashcash|hashcash]] proof-of-work function. The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any [[Transaction Fee|transaction fees]] as well as a “subsidy” of newly created coins. This both serves the purpose of disseminating new [[Coin(s)|coins]] in a [[Decentralized|decentralized]] manner as well as motivating people to provide security for the system. 15. The act of validating [[Blockchain]] transactions. Requires computing power and electricity to solve “puzzles”. Mining rewards coins based on your computing power. 16. Mining is the process by which [[Transaction(s)|transactions]] are verified and added to a [[Blockchain|blockchain]]. This process of solving cryptographic problems using computing hardware also triggers the release of [[Crypto (cryptocurrency)|cryptocurrencies]] within a given blockchain.