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Swag guides you through the production of virtual currency
- Generally in every permissionless blockchain, every "n" minute the block chain is updated, generating a new block in the queue. These new blocks contain user transactions, i.e. money transfers between users in the network.
- A block is linked to the chain through the computational work done by the hardware of the computers of the miners nodes. The computational power has as a unit of value Hash/sec. Mining therefore consists in performing a hash operation in as little time as possible.
- Hash resolution can be considered as an attempt to solve a mathematical problem or an algorithm: the operation consists in taking a set of incoming variable data and returning a given output that corresponds to that precise value for that sequence.
- The output is called hash value and is a unique value. Obviously, this work is done by the CPU/GPU by trial and error (defined as brute force and each value tested is called "nonce") until a computer in the network can return the correct output data faster than the others.
- This is in short the activity of mining that generates cryptocurrents with a variable speed depending on the computing power.
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