What is bitcoin mining?

Bitcoin mining is an essential component of the network's system for arriving at consensus as to the current state of the ledger. It is central to enabling people to securely make Bitcoin transactions. The Bitcoin network is a globally distributed public ledger consisting of a giant list of timestamped transactions.

What cryptocurrencies are mined?

Crypto mining information for Bitcoin, Etheruem, Litecoin, Monero, Zcash, and 200+ more. Select a cryptocurrency for more information about mining.

Why is mining important for cryptocurrencies?

Beyond releasing new coins into circulation, mining is central to Bitcoin’s (and many other cryptocurrencies’) security. It verifies and secures the blockchain, which allows cryptocurrencies to function as a peer-to-peer decentralized network without any need for oversight from a third party.

Why is bitcoin so difficult to mine?

Difficulty - Bitcoin has a chunky and complicated proof of work algorithm, which can make it a hassle to mine the coin. ROI - Due to the highly competitive nature and difficulty of mining Bitcoin, you may only see meagre returns on your investment. Some other cryptocurrencies are easier to mine, especially when starting out.