How does cryptocurrency mining work?

chetan

Can anyone explain cryptocurrency mining in a simpler way? I just want to know the basics and not in great detail.

gautam

Crypto mining validates the transactions that are done on a blockchain. A miner receives the transaction that is to be validated, runs some computations on his computer matches the nonce value of the transaction with that generated on his computer to check validity, and then adds them to a blockchain.

harsh

Crypto miners receive transactions that several miners simultaneously validate and whoever validates it first gets to add it to a block in a blockchain. In return, the miner receives cryptos as block rewards.

gulab

Mining is an essential part of Proof of Work cryptocurrencies. These cryptocurrency transactions are validated through complex mathematical algorithms and the entire process of validation is called mining. In return, miners receive rewards in the same crypto which they are validating. A transaction is validated multiple times and through multiple miners. If a miner posts a false transaction they are removed from the mining pool.