Cryptocurrency networks need computational power to run securely. The world’s most powerful blockchains
are supported by millions of computers around the world. Unlike paper money, Bitcoin and other
cryptocurrencies are produced mathematically and held digitally. The people who voluntarily offer their
computing power to secure these cryptocurrency networks are called miners.
Cryptocurrencies don’t have a central government or other so-called ‘middlemen’ that decide about the
future of the system. – They are in fact digital, borderless democracies in which miners vote with their
computing power to reach order and consensus.
HOW IS BITCOIN KEPT SECURE
The only way to not create money out of thin air or corrupt it, is to burn real energy. This is called
Proof-Of-Work. Today, bitcoin is the most secure computer network on the planet and it’s practically
impossible to break it! The reason for that is hash power, the umbrella term used for the computing power
that miners provide to the bitcoin network and similar cryptocurrency networks. Due to the rapid growth of
the ecosystem, mining operations today are mostly running with specialized high-performance computers that
function most efficiently set up in large data centers.
WHAT ARE THE INCENTIVES FOR MINERS
It all comes down to trust: Miners keep the blockchains trustworthy and are rewarded for their efforts.
As miners, we are processing and verifying the transactions of the cryptocurrency ecosystems and keeping
their public transaction history (blockchains) maintained and secure. For this, the mining community is
rewarded with the networks’ transaction fees and newly created coins. It’s a win-win situation! When you
start mining with us, you are getting your share of this reward.
THE BIG VISION OF CRYPTO CURRENCY
To keep the integrity (and values!) of all cryptocurrency ecosystems intact, miners keep the networks
safe and its authority decentralized by keeping each other constantly in check. This allows both a healthy
growth and a fair distribution of currency units to all crypto-citizens!
