THE MODERN GOLD RUSH
Mining for a digital asset sounds pretty counterintuitive, I mean how is it even possible to mine something that only exists virtually? This is because mining in the context of cryptocurrency doesn’t require a hard hat or a pickaxe, but instead relies on powerful computer processors and large amounts of storage space. Mining is the process of authenticating cryptocurrency transactions by solving puzzles and producing new blocks on the blockchain to store this information.
It is absolutely essential for the survival of most popular cryptocurrency networks since it’s the underlying process that allows them to act as a medium of exchange. Without mining, none of it would be possible, which is why most cryptocurrency networks offer miners an attractive incentive. Therefore, if you possess the right amount of computing power and electricity, mining can be a profitable endeavor.