Can you mine Dogecoin tokens?
In the early days of Bitcoin, mining cryptocurrencies was a fairly easy affair that did not require powerful computers.
Bitcoin miners would receive a reward for breaking down complicated mathematical formulas in exchange for BTC rewards.
The process ensured Bitcoin were entering into circulation on the blockchain, helping maintain the technology.
But there is a limit to the number of Bitcoin that can be mined that is hardwired into the crypto token’s code.
Consequently, the rewards for mining Bitcoin are halved every four years and the process gets harder and harder.
For example, breaking down one block in 2009 yielded a reward of 50 BTC.