+14 Cryptocurrency Mining What Is It 2022. This system incentivizes users to continually update and secure the network, in exchange for cryptocurrencies like bitcoin. It provides financial incentive for participants (miners) to dedicate resources to the network, and the resources dedicated help secure the network from attackers.
Mining is the process of creating new bitcoins, which is built on computers solving complex mathematical problems. The first computer to find. The simple way to think of cryptocurrency mining is that it’s a way to create new digital “coins.” but the simplicity ends there.