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RE: A simple conceptual introduction to Blockchain.

in #steemit7 years ago

This is all fascinating, can you see looking forward that the community of minors is ready to grow, because more and more companies around the world will be doing financial transaction through the blockchain, and maybe promblem will become more complex. There are hundreds of crypto on the market so they need the best of the best in mining to stay in front. You need the best mathematician in your community.

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Basic programming skill is all you need to mine, but doing it well requires lots of electricity, and ASICs, Application Specific Integrated Circuits, specifically designed for bitcoin mining.
Most of it is done in China and Iceland, as China has hydroelectric dams, and Iceland has free magma electricity, and snow to cool their rigs.
The more miners, the rarer the required result, so it definitely gets more difficult, but again, it's not a complex problem, just something you need to do trillions of times a second, to hope to stumble on a sufficiently rare outcome.