Mining verifies and records cryptocurrencyCryptocurrency is decentralized digital currency secured by cryptography. Cryptocurrency utilizes cryptographic protocols to record ownership and prevent counterfeits (when ownership... transactions on a digital ledgerA digital ledger is an online record of transactions. The digital ledger tracks financial or other data. (blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions....). The approval or verification process for adding new transactions to the blockchain varies depending on the cryptocurrency, but usually, miners must approve each transactionA transaction is a record of an event that occurred in the past. Transactions typically occur during the course of... to add it. Miners maintain the integrity of the blockchain networkA blockchain network is a decentralized system that allows for peer-to-peer transactions. The main components of a blockchain network are... by verifying and processing transactions, thus ensuring that new coins can enter circulation.
