Hello everyone,
Just curious about how mining really works! Read a lot about it on google but i really didnt understood much. So, here are some of my questions:
1) How does mining actually create coins?
2) From which address are the mined coins generated?
3) I heard some sort of mathematical problems should be solved. What kind of problem is that? Please ecplain this one.
4) How does the difficulty rise and drop? Who rises and drops it?
5) In the term 1 GH/s GH= gigahash... Why do we need hashes? Mining is related to bruteforcing?
Any help would be appreciated! Thanks!
PS: I am not a technical guy. Please try to make it simple