A BLOCKCHAIN is essentially a storage of highly encrypted information about transactions from one person to another. Every transaction through a nominated cryptocurrency is added to the same blockchain and becomes a part of a public ledger. Even though the ledger is public, it is almost impossible to identify the transacting parties as the data really only contains a series of unqiue numbers that relate to the digital wallets and value of the transaction involved.
To create a trusted transaction, it needs to be VERIFIED and this is done by MINERS. A miner is completely independent from the transaction and has no idea of who is involved in the transaction because it is all encrypted. The miner simply verifies the transaction through solving a series of math problems that have been associated with that transaction. Once the transaction has been verified, the miner is rewarded with cryptocurrency.
The blockchain is stored across many computers around the world in a similar way we shared files with peer to peer networking. The data in the blockchain is decentralised and distributed. This means that no-one can have control over the blockchain and have the opportunity to manipulate it. It also means that the blockchain is always available even if large chunks of the internet were to go down.
Why Mining is important
Mining the blockchain is a vital part of the entire cryptocurrency system. Miners are required for two main reasons:
1. Establishing a new cryptocurrency and creating the coins
2. Verifying the transactions that are added to the blockchain
The demand for mining cryptocurrencies will increase. As more people around the world start using cryptocurrency, there will be a greater demand for new cryptocurrencies to emerge and also to verify transactions. The Pro Crypotomine Miners are flexible enough to change to new cryptocurrencies when they become profitable.
What Does Pro Crypto Mine Do?
Pro Cyrptomine builds specialized cryptomining hardware that is designed to maximize profits and income.