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Imagine being in a high school math class. The assignment is to verify the accuracy of a set of transactions and to announce and distribute your correct proofs before the other students, so they can verify your work. After enough of the other students verify your work, your work becomes part of the permanent record and you get a reward.
Mining #BTC / #LTC / #BCH in a nutshell.
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I’m trying to find a way to distill the concepts behind !cryptocurrency and mining into normal American English (and ignoring ubermath terms like hashing). The above feels close-ish, but not there yet.
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@geniusmusing It is interesting, but I’m just trying to find a way to explain it to someone without them necessarily becoming pro-cryptocurrency or anti-cryptocurrency.