Manish Kumar

What is Cryptocurrency Mining? Principally everybody can be a miner. Since a decentralized network has no authority to delegate this task, a Cryptocurrency needs some kind of mechanism to prevent one ruling party from abusing it. Imagine someone creates thousands of peers and spreads forged transactions. The system would break immediately. So, Satoshi set the rule that the miners need to invest some work of their computers to qualify for this task. In fact, they have to find a hash - a product of a cryptographic function - that connects the new block with its predecessor. This is called the Proof-of-Work. In Bitcoin, it is based on the SHA 256 Hash algorithm. You don‘t need to understand the details about SHA 256. It‘s only important you know that it can be the basis of a cryptologic puzzle the miners compete to solve. After finding a solution, a miner can build a block and add it to the blockchain. As an incentive, he has the right to add a so-called coinbase transaction that gives him a specific number of Bitcoins. This is the only way to create valid Bitcoins. Bitcoins can only be created if miners solve a cryptographic puzzle. Since the difficulty of this puzzle increases the amount of computer power the whole miner’s invest, there is only a specific amount of Cryptocurrency token that can be created in a given amount of time. This is part of the consensus no peer in the network can break.

Blockchain and Cryptocurrency ... The transaction is known almost immediately by the whole network. But only after a specific amount of time it gets confirmed. Confirmation is a critical concept in Cryptocurrencies. You could say that Cryptocurrencies are all about confirmation. As long as a transaction is unconfirmed, it is pending and can be forged. When a transaction is confirmed, it is set in stone. It is no longer forgeable, it can‘t be reversed, it is part of an immutable record of historical transactions: of the so-called Blockchain. Only miners can confirm transactions. This is their job in a Cryptocurrency-Network. They take transactions, stamp them as legit and spread them in the network. After a transaction is confirmed by a miner, every node has to add it to its database. It has become part of the Blockchain. For this job, the miners get rewarded with a token of the Cryptocurrency, for example with Bitcoins. Since the miner‘s activity is the single most important part of Cryptocurrency-system we should stay for a moment and take a deeper look on it.

Thanku Cryptotalk for giving us this opportunity. Today i m talking about crypto world community and Cryptocurrencies. Cryptocurrency is an internet based medium of exchange which uses Cryptographical functions to conduct financial transactions. Cryptocurrencies leverage Blockchain technology to gain decentralization, transparency, and immutability.

My Topic Continue ........ (about world crypto community & cryptocurrency) Hi, I'm from India. my country . India is the second most populated country of the world after China. Population of India is projected close to 1.37 billion or 1,369 millions in 2019 . India will be future Crypto-Hub . Every 5th crypto invester in world is indian. it's proud for us as well as gor crypto community.

i just received a mail from yobit exchange regarding cryptotalk & i m surprize . we should thankful to yobit exchange and cryptotalk for giving us this opportunity . yobit really a good exchange and this cryptotalk forum is awesome platform. here , we can discuss or talk about all the crypto coins information , daily updates etc .

A cryptocurrency is a decentralized digital currency that relies on cryptography for the generation of currency and securing transactions. The first such currency ever made is called Bitcoin. Cryptotalk.org is your source for advice on what to mine, technical details, new launch announcements, and advice from trusted members of the community. Cryptotalk.org is your source for everything crypto. We love discussing the world of cryptocurrencies.