+14 How Cryptocurrencies Are Mined Ideas. The miners, who are like auditors, are then rewarded with a small amount of cybercurrency. So why is the process called cryptocurrency mining?
Most cryptocurrencies are built on blockchain networks. While the majority of this article will focus on bitcoin mining, the same principles apply to most other cryptocurrencies. Cryptomining uses the processing power of computers to solve complex mathematical problems and verify cybercurrency transactions.