What is mining and how can I start it?

Mining is the process of verifying and adding transaction records to a public distributed ledger (known as a blockchain) in exchange for a reward. As part of the mining process, miners use specialized hardware to solve mathematical puzzles, which are used to validate transactions on the blockchain. Once a puzzle is solved, the miner is rewarded with coins (usually in the form of bitcoin).

In order to start mining, you’ll need to purchase some specialized hardware and join a mining pool. Mining pools are groups of miners who join forces to increase their chances of solving a block more quickly. The reward is then split among the pool members, based on how much computing power each one contributed. You will also need to download specialized software to complete the mining process.