How Ethereum Mining Works

Image from Value the Markets

According to Coindesk, Ethereum has the same mining process as Bitcoin’s. For each block of transactions, miners utilise computers to frequently and very rapidly produce random values until one of them bumps upon the right one. The right answer unlocks the ether. It is very hard for miners to cheat at this game. There is a less than microscopic chance that a miner can fake this work and come away with the right answer. That’s why the…