Post
Topic
Board Mining (Altcoins)
Re: what is mining - explain to a newbie
by
Collectorcoin
on 21/11/2017, 12:22:36 UTC
Mining is the act of supporting the blockchain or transactions of a specific coin. For instance if I sent you Bitcoin it would go through the Peer-to-Peer mining network which verifies the transactions as legitimate. This in turn supports the blockchain of Bitcoin.

So goes if I sent you Litecoin or Ether. Mining those specific coins supports that specific network and earns you a marginal fraction of said token.

Hope this helps.