What is Ether Mining?

November 10, 2022 0 Comments

Just like DOGE or any other cryptocurrency, Ethereum does not get literally “mined”, as precious metals do. Instead, the process involves solving complex puzzles using one’s computing power. Miners verify transactions on the Ethereum blockchain and get rewarded with ETH for their efforts.

The process of mining Ether can be broken down into a few simple steps:

Miners download and install software that allows them to connect to the Ethereum network and start processing transactions.

The software connects the miner’s computer(s) to other nodes on the network, where they receive transaction data.

Miners use their computational power to verify these transactions according to Ethereum’s consensus rules.

Once a block of Ethereum transactions is verified, it is added to the blockchain and miners are rewarded with Ether.