cmi_blog_daily_dose

  Cryptocurrency Mining is the distributed operation of validating anonymous transactions and adding them into a public ledger/record for the virtual currency (the Blockchain) in pursuit of more virtual currency and transaction fees. The operation is computationally expensive and may use major and expensive amounts of electricity and computing time. Thus, there are very high barriers to entry for users wishing to engage in this activity. The major providers of the infrastructure usually control the supply of cryptographic power and also the physical infrastructure that makes this environment possible. The operation of Cryptocurrency Mining follows two separate although connected paths. First, users who participate in the operation of validating transactions add their inputs to the blocks that the mining process creates. Then, the process works to verify the correctness of these transactions by applying the proof-of-work to previously mined blocks. Proof-of-work is code that is wr...