What are Miners?


Miners are participants in certain cryptocurrency networks who play an important role in securing and extending the blockchain.

The mining process is designed to keep blockchain networks secure, decentralized and free of intermediaries.

Networks with miners rely on a computational puzzle called Proof of Work.

When the proof of work is solved, the solver is allowed to issue the next block using the rules of the network.

If the issues an invalid block, other participants will reject it and the reward will be lost.

Therefore, there is a large incentive to act according to the rules of the network.

Miners use very powerful hardware to participate, solve puzzles and earn new coins and the transaction fees collected in every block.

Miners play an important function keeping Proof of Work networks secure and decentralized and running for everyone.