Cryptocurrency mining is the process of verifying transactions and adding to the blockchain digital ledger. It is performed to discover digital coins. The mining uses the proof-of-work system where crypto miners compete to crack the code of the block containing the transaction. To be rewarded, a miner has two tasks - validate 1 MB worth of transactions and be the first to guess the 64-digit hexadecimal number (hash). The miner who first does to the work is rewarded with a small fraction of the currency.
Cryptocurrency mining limitations
Many digital currencies have imposed a limitation on their mining
To avoid inflation in the supply.
Once the limit has reached, mining a new block will not generate any currency at all. Bitcoin is among one of these.
It is not possible to generate digital currency on any CPU due to the enormous energy power required.
Mining requires a pool of miners to maximize profits.
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