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Comprehensive tutorial on Ethereum digital currency mining

Comprehensive tutorial on Ethereum digital currency mining

Ethereum digital currency, which is known as the queen of the cryptocurrency world, is considered the second best digital currency in the cryptocurrency market after Bitcoin, and therefore many people are very hopeful about the future of this digital currency. Taking into account the popularity that this digital currency has gained, the number of users who join the ethereum miner community is increasing day by day.



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In fact, this is one of the main features of the Ethereum blockchain that all people can perform the mining process in this network as a miner. If you are also looking to join Ethereum miners and earn money this way, this article is for you, because in the following we intend to fully examine all aspects of Ethereum mining. First of all, we need to see what is Ethereum mining and how is it done?

Ethereum mining

In general, the “Ethereum” digital currency network has its own “Blockchain” and all transactions carried out in this network must be confirmed by miners. In fact, it is because before you send some Ethereum to another user’s address, it takes a short time for this process to be completed and Ethereum to be sent.

In fact, conducting transactions in the Ethereum network will require the approval of “Miners” and placing the transaction in the Ethereum blockchain, which is called “Proof of Work” protocol. Therefore, if we consider you an Ethereum miner, it will be your job to make sure that no user is cheating, and to do this and make sure that the transactions are valid, you will be asked to solve complex mathematical problems.

Basically, by solving these complex mathematical problems, you announce your result to other active miners in the network, which will be confirmed by other miners; If more than half of the miners approve it, a new block will be added to the Ethereum blockchain network, and you, as the miner who found this number, will receive some Ethereum as a reward. It should be noted that the new block created by you contains all the transactions that have been confirmed so far.

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