What Is Mining?
Mining typically refers to the process of extracting valuable minerals, ores, or other geological materials from the earth, usually from an ore body, vein, seam, reef, or placer deposit. These materials can include metals, coal, gemstones, oil shale, limestone, rock salt, dimension stone, potash, gravel, and clay.
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| what is mining |
In the context of cryptocurrencies like Bitcoin, mining refers to the process of validating and adding new transactions to the blockchain. This is done by solving complex mathematical puzzles using computational power. Miners compete to solve these puzzles, and the first one to do so is rewarded with newly created coins and transaction fees. Mining is essential for maintaining the security and integrity of decentralized cryptocurrencies.