How is digital currency mining done?

How is digital currency mining done?
Rumah Dalgamouni
In January 2009 launched an unknown person (or a group of persons) carries the code name " Satoshi Nakamoto " program configures  the Internet, and became the first of "excavating" digital currency after the first block record in a series of blocks (blockchain), which became known as The "parent block" thus dates to the birth of the first digital currency on the Internet.
The first bitcoin transaction went to a game developer named Hal Finney, who had downloaded a bitcoin program on his device the day it went online and received ten configurations from Nakamoto.
It is estimated that in the early days of Bitcoin, Nakamoto extracted a million units of them before handing over the network key and control of the centralized Bitcoin code to Gavin Anderson, who later became the lead developer of the Bitcoin Foundation who later worked to decentralize control over the Bitcoin system.
After that, the use of Bitcoin digital currency became the mother and most famous of the digital currencies, noting that the number of live digital currencies currently exceeds a thousand.
And when Nakamoto developed an algorithm with configuration, he put a limit on the number of currencies that this algorithm can generate, which is 21 million units of bitcoin, and currently more than 12 million units of them are in circulation, which means that less than nine million units are waiting to be discovered or prospected.
Since the launch of this currency in 2009, the number of extracted units (prospected) has skyrocketed, and this is in line with the method on which the currency system was built, which is that prospecting for it in the beginning is easy, then difficult on the way to 21 million units, and according to the current rate of Bitcoin it It is estimated that the last unit will be extracted in the year 2140.
There are three main ways to obtain a Bitcoin currency (or any other digital currency), which are: buying it through the exchange of actual money in exchange for bitcoin, accepting it as a price for goods or services, or exploring new units of it. What concerns us is the last method.
Prospecting for digital currency
and to understand how to prospect for digital currencies, one must understand its mechanism of action. The digital currency operates within the "blockchain" platform and is like a ledger, or a record in which calculations are saved, and it is repeated several times over a network of computers, and it is updated, distributed and made available. For all digital currency owners.

In this register, every transaction conducted in the digital currency and the ownership of each digital unit in circulation are recorded, and those who manage this record are called "miners" and their task is to update the record every time a process is conducted in a digital currency, and to ensure the correctness of the information, thus making sure that each transaction Treated properly and safely.
In return for their services, prospectors are rewarded in digital currencies, and the value of the reward is currently 12.5 BTC, and the value of the reward will be halved every four years, and the next amendment will be in 2020/2021.
The validation of transactions entails the creation of blocks of documented transactions that are added to the blockchain, and this is done by using super-powerful computers called "nodes" that use a program to create and participate - within a network of other computers - in verifying the validity of digital transactions.
Anyone can explore Bitcoin, and all they need is a strong computer, Bitcoin software (free), and a fast Internet connection, but be careful that this process is very energy-consuming and storage space that may exceed 145 GB.
The reason for the process’s consumption of a large amount of energy is that verifying the authenticity of the digital transaction is a mystery that requires solving complex and large calculations that continuously consume the maximum power of the processor. Therefore, the computer that is used for currency exploration cannot be used for another purpose.
This mystery issue is part of the Bitcoin program, which is a number (key) which when combined with the data in a block leads to a result within a certain range, to verify the validity of the financial transaction, and this number is called "nonce" (short for " A single-use number "), and in the case of Bitcoin, this number is between zero and 4294967296.
And this number is found through random guessing, as the Bitcoin algorithm makes it impossible to predict, so prospectors begin to guess this number and perform calculations, then re-guess and perform new calculations in case the first guess is wrong, until the operation succeeds.
Therefore, currency exploration is a matter of luck and computing power, because the stronger the computer, the more guesswork and computing it can make, and according to "blockchain.info", one of the best sites for tracking the latest Bitcoin transactions in real time, the number of attempts it takes to find On the key (correct number) is about 178954695105.
Therefore, the more you have a processor faster than your competitors, the better your chance to find the right number before them, but with large companies demanding to invest in projects to build servers (farms) to mine the digital currency, the luck of individuals in prospecting becomes small, and to confront this matter, forums were created. In it, individual miners are allied to form one vast network to mine Bitcoin.

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