What is crypto mining?

In short, crypto mining is how new units of cryptocurrency ---usually called coins---are created. As you can imagine, this type of mining doesn't involve callused hands gripping pickaxe handles. Instead, it's computer processors that do all the hard work, chipping away at complex math problems.

What does a cryptocurrency miner do?

Cryptocurrency miners play a crucial, indispensable role in running PoW blockchains, validating transactions, and securing networks. Mining has evolved over the years in terms of equipment, difficulty, rewards, and techniques, including the use of mining pools.

Can I build a computer capable of mining cryptocurrency?

You can build a computer capable of mining cryptocurrency, but you'll need specific hardware. Most graphics cards from Nvidia are capable of mining. However, some might not be fast enough to be worth buying for mining purposes. The RTX 3090 Ti is one of the better graphics cards for mining.

How does a crypto miner verify a transaction?

When a miner successfully solves the math equation and verifies the transaction, they add the data to the public ledger, called the blockchain, which is secured by these many encryptions. To ensure that only verified crypto miners can mine and validate transactions, a proof-of-work consensus protocol is established.