What Does Cryptomining Mean?
Cryptomining is the process of validating a cryptocurrency transaction. Cryptocurrencies like Bitcoin use distributed public ledgers to record all financial transactions. Each transaction is linked to the previous and subsequent transactions, which creates a chain of time-stamped records called a blockchain.
Techopedia Explains Cryptomining
Cryptomining was introduced in 2009 when Satoshi Nakamoto, (which is a pseudonym,) invented Bitcoin, the first implementation of a decentralized cryptocurrency. Nakamoto used cryptomining proof of work (PoW) to secure the public ledger. Records are linked using cryptographic hashes to prevent them from being changed.
