How Ethereum Mining Works

Image from Value the Markets

According to Coindesk, Ethereum has the same mining process as Bitcoin’s. For each block of transactions, miners utilise computers to frequently and very rapidly produce random values until one of them bumps upon the right one. The right answer unlocks the ether. It is very hard for miners to cheat at this game. There is a less than microscopic chance that a miner can fake this work and come away with the right answer. That’s why the…

--

--

--

Blockchain is the future.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

GUIDE TO PURCHASING AEN TOKENS AND CONTRIBUTING TO AENCO SOLUTIONS:

I have $15 Ethereum,is there any legitimate app or site I can mine with minimum of $10 eth.?

A Glimpse of Defi

CPLAY — Privacy is Priority here!

Comining.io mining pool + PROMO LINK

Jumpstart January with Synthetix

From HODL to MOVE — A Path For Making Cryptocurrencies Work

[Weekly Recap] — (July 30-Aug 5)

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
The Writing Zone

The Writing Zone

Blockchain is the future.

More from Medium

[GUIDE]: How to move your tokens from CoinDCX to Polygon Network?

Arbitrages in Crypto. Free money?

Flash BTC Transaction (Core Network) Full Version 7.0.0

Top 5 Blockchain Networks for Advanced Finance, and Their Native Currency