Mining Process is used by the cryptocurrency miners. In the previous article we got a through knowledge of the Basics of cryptocurrency mining. In this article we are going to gain knowledge of the Mining Mrocess, mining nodes and techniques that are used in the day today life.
To master this process, we will go through the practical scenerio where we all can understand how mining process works in detail. So, Sam is the person who transfers the cryptocurrency Bitcoin to Ruby. We will take bitcoin as the cryptocurrency for better understanding. Mining Process is required for doing cryptocurrency mining.
For transferring Bitcoin from one to another, both need to have Bitcoin wallets to transfer money. Assuming that Sam sends 1Bitcoin to Ruby. Creation of transaction takes place from Sam's side. As he want to send Bitcoin to Ruby. The Peer to Peer network we have seen in the earlier article. With the help of Nodes Peer to Peer network builds up. So in the given scenerio Bitcoin acts as P2P network where Sam's wallet provider can send transactions to the connected node.