Now, we will introduce the concept of mining, which many of you have probably heard of. Mining basically involves doing Proof-of-Work and results in generating new coins as a reward for the miner who successfully did this Proof-of-Work first for each new block. Proof-of-Work involves a hefty amount of calculations done by a computer aimed at solving cryptographic hash puzzles. Let's dig into the nuts and bolts of this mechanism to figure out how it works.
First, let's see how miners create new blocks. The following diagram illustrates the creation process:
Now, mining nodes collect and aggregate new transaction data. ...
