Arashtad

Even though cryptocurrency mining is painful, costly, and only sporadically rewarding, it still has a magnetic appeal for many investors interested in cryptocurrency since miners are rewarded with cryptocurrency tokens in return for their work. A bitcoin reward is an incentive that motivates miners to help legitimize and monitor Bitcoin transactions, thereby ensuring their validity. Since many users share these responsibilities, Bitcoin is a "decentralized" cryptocurrency, meaning it does not depend on a central authority like a central bank or government to ensure its regulation. How do you get started with bitcoin mining, is it legal, and what are the benefits? In this article, we examine these questions in more detail. Bitcoin Mining Overview A bitcoin mining process adds transaction records to the blockchain, the public ledger of Bitcoin (BTC). As it solves the double-spend problem, it is a crucial component of the Bitcoin network. A double-spend is a p...