Steemit Crypto Academy Contest Season 9 Week 5 - "Cryptocurrency Mining"

Introduction

We are so delighted in welcoming y'all to this week's Steemit Engagement Challenge and we are already into week5. We still have up to week-06 to remain together in the Crypto Academy. So we hope you will share more of your knowledge about the crypto ecosystem with the audience, thereby educating one another.

"Cryptocurrency Mining"

We are in the world where we can generate new coins and verify new transactions through a process known as mining. However, mining also involves the process of validating cryptocurrency transactions on a blockchain network and adding them to a distributed ledger. One of the most important thing about this mining is that it prevents the double-spending of a digital currency on a distributed network.

Mining cryptocurrency began with Bitcoin and now our days, several cryptocurrencies are also generated through mining process.

Mining of cryptocurrency at the beginning usually involves different methods which required different amount of time and energy. This mining usually requires computers with special software which are specially designed to solve complicated, cryptographic and mathematical equations.

Mining now our days is very simple to get started as every miner is required to be a member of an online crypto mining pool and most be connected online each time he/she wants to mine

What is Expected in the Contest?

• What is cryptocurrency mining? How does it work? Can STEEM token be mined?

• Name The various types of mining methods for cryptocurrency

• Have you ever been involved in cryptocurrency mining? If yes can you share with us how you mined this coin?

• Give some of the Importance and benefits of cryptocurrency mining

• Name some of the challenges of cryptocurrency mining

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, May 15th, 2023, 00:00 UTC to Sunday, May 21st, 2023, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S9W5 - "Cryptocurrency Mining". Add the tag #cryptoacademy-s9w5 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• Participants must be verified and active users on the platform.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

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Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

It's a pleasure continuing with y'all in week 5 of this engagement challenge at the crypto academy. We believe that y'all will share to us your ideas on this contest topic and we will get to learn alot from one another. So we hope everyone will have good information to discuss about this topic.

Please always endeavor to stay original and give in-depth analysis to all the required contest questions so as to gain maximum scores. Stay blessed @everyone