What is cryptocurrency mining?

Mining is the process of production of bitcoin and any other cryptocurrencies. The result of mining is the addition of new transactions to the blockchain and the release of coins. The emission of new coins is used as a miner’s reward for solving a cryptographic problem, spending electricity, and other efforts in the mining process. The mining method is based on the decryption of the subsequent chain block, which is added to the blockchain when the problem is solved correctly. Duplicate blocks are impossible, so only the miner who solved the problem first receives a reward.