WHAT IS MINING:
Mining is the method to which computers gather information and input that information onto the Blockchain.
- Small computers are linked together to form super computers and join a POOL of computers.
- These computers gather information and put that information onto the blockchain.
- Once they have completed a curtain amount of transactions, the block is completed and the miners then get rewarded for their WORK.
- As technology has advanced, these computers have as well making this process efficient and faster.
- With these advancements, now regular people like you and me can join these pools with everyday computers and do whats called cloud mining.
- Some examples you may have heard of are Running a Master Node and or Staking.
- Running a MASTER NODE allocates an amount of coins (off line) that are used to assist miners in their work and you share the rewards.
- And STAKING, which is very similar to running a Master Node, but is used (on line) on your computer while connected to the internet.
In affiliation with Bitcoin Consultants Worldwide