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What is mineable cryptocurrency

What is mineable cryptocurrency

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What is Bitcoin Mining for Beginners - Short and Simple
Cryptocurrency mining is a novel concept in monetary terms. Crypto mining is a technique by which new coins or tokens are brought to life. Mining crypto at home with a CPU is possible with coins like Monero, Zcash and Byte, but it will be a slow process and the cost of electricity. Crypto mining is somewhat similar to mining precious metals. While miners of precious metals will unearth gold, silver, or diamonds, crypto miners will trigger.

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Today, most of the Bitcoin mining network's hashing power is almost entirely made up of ASIC machine mining farms and pooled individual miners. Each block uses a hash function to refer to the previous block, forming an unbroken chain of blocks that leads back to the first block. Blockchain "mining" is a metaphor for the computational work that network nodes undertake to validate the information contained in blocks.