How Cryptocurrencies Are Created
The majority of cryptocurrencies, including Bitcoin and iBitHub, are created through a process called mining.
What is Cryptocurrency Mining?
Mining involves using computational power to solve complex mathematical puzzles that validate and secure transactions on the blockchain. Once solved, these puzzles add a new block to the blockchain. Miners are rewarded with cryptocurrency for their efforts.
The Energy Factor
Mining often requires significant energy and specialized hardware. Platforms like iBitHub address this issue by supporting merge mining, which enables miners to secure multiple networks (e.g., Dogecoin and iBitHub) simultaneously with the same computational effort, improving efficiency and rewards.
