Mining

Mining, in the context of cryptocurrencies like Bitcoin and early Ethereum (prior to its shift to Proof-of-Stake), is the process by which new transactions are verified and added to the public ledger, known as the blockchain. This involves solving complex computational puzzles, a process known as "Proof-of-Work" (PoW). Miners compete to be the first to find a solution to a cryptographic puzzle, and upon success, they are granted the right to add a new block of verified transactions to the blockchain and receive newly minted cryptocurrency as a reward, along with transaction fees.