Topic: Who Are Miners in Blockchain. Complete Guide For Beginners (Read 197 times)

Hmm, What do you think any newbie is gonna consider it?
Anyway for those who really want to obtain something useful by reading the other posts, I'll consider your post good to be their assistance.

I've gone through a single paragraph and pointed out some of the misconceptions in my post above, after viewing this thread again, I've realized reading the whole thread could have fixed many other similar kinds of mistakes. If OP is really interested in this topic the feedback can really help him in having a grip on the topic and, considering the corrections, He can edit out the thread again.

Will He do this is a concern?

Hmm, better suggestion, the OP should also do what's said in that topic, because the real problem around is reading one thing and doing the opposite.


Quantity over quality.

But the most annoying thing , and what I hate about these "newbies" is that they throw one hug wall of text and then like a lazy fisherman they wait for the fish to jump in the bucket, they don't engage at all in the topic anymore, and if that wasn't bad enouhg, he also mentioned in his own post:

So, ...better straight to the trashcan! 

I hope you lock this topic. Many of the statements are general and far from being technically correct, not to mention that you want them as a source of information that the other party can learn.
Quoting or adding sources would be good instead of trying to write a long thread with many errors.
Your attempt to simplify information should not be in exchange for publishing incorrect information or meaningless analogies.

there is no Single-Person but hardware device call Bitcoin Miner ASIC

That's true, including cloud mining is something entirely causing a spoil to the whole efforts he has made in talking about miners, mining and the blockchain technology itself, cloud mining should not be regarded as mining at all and newbies should stay away from any platform, project or influencers that promised giving rewards through this kind of process, everything will amount to waste of time because they were mostly fake and not rewarding.

It looks like you are just making such long threads to gain some attention in the form of merits but it's not gonna work because the information is incorrect in so many ways as explained above by other members but as a advice to you I would say whenever we create a thread for someone's else help we make sure we have sufficient knowledge about what we are going to share.So gain knowledge and then involve in healthy discussions after that.

The cloud mining is just a scam and they will just provide lucrative offers to you with a aim to scam you so people should not indulge in it at any cost.

After read the thread and other users' replies, I suggest @OP to read this thread  Newbies Stop Teaching When You Need To Learn.

Below are good resources to learn about mining:
1. https://learnmeabitcoin.com/beginners/mining
2. https://learnmeabitcoin.com/technical/mining
3. https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch10.asciidoc
4. https://99bitcoins.com/bitcoin-mining/

When you only understand little or few thing, it's better to open a thread to ask about something you didn't understand than teach it.

Your definitions of different concepts are a bit weird and in some parts wrong.
For example why define blockchain like this and what is up with the last sentence, it makes no sense.
Blockchain is simply a chain of blocks.
Blocks also don't contain "user data", they contain transactions.
Blocks are also not "combined", they are "chained".

That's another weird definition.
A miner is someone who is using their computing power to perform the "work" needed in the Proof of Work algorithm to find the next block.

Wrong.
Miners do not create transactions, they also don't validate transactions. They only perform work to find the next block and get the block reward (which is creating the new coins of that cryptocurrency).
Users create transactions and nodes validate these transactions.

Wrong. Blockchain is just a chain of blocks. It does not have to be decentralized (example is all the centralized shitcoins and the new nonsense known as CBDC).
Whether or not it can be "hacked" depends on the cryptocurrency, blockchain is just the database. For example if you use a weak cryptography algorithm (eg. weak hash or a weak EC curve) it can easily be hacked.

Wrong. Nothing in blockchain is encrypted.

It is not about profit though, pool mining is about getting paid for the amount of work you perform without worrying about whether you find a block or not.


Theoretically. Otherwise in reality cloud mining is a Ponzi scheme.

Only if the cryptocurrency we are talking about is bug-free and follows the concept of immutability.
Otherwise there are many shitcoins that are filled with bugs and some that don't care about immutability like ethereum where they have and can roll back blocks anytime they want. Which means your transactions are not safe in such blockchains!

You have some wrong statements as they have said and I agree with it. It is much better if you put the correct information in your OP as to avoid sharing wrong information which is not good especially for newbies who wanted to learn about mining and how blockchain works and how mining works. I know your intention is good which is to help those people who wanted to learn but i think it is only a waste of time or effort because of some mistakes (wrong statements or wrong information).

It's be noted that not all Blockchain are entirely decentralise while others are more centralise than others. Bitcoin uses pow mechanisms which is makes it totally decentralise and not like others that use the PoS ( proof of stake), POA (Proof of Authority) and others.
They are other POW Blockchain but are not as secure as Bitcoin and so they have been affected with the 51% attack example are bitcoinCash and bitcoin gold and others. The 51% attack is not possible on Bitcoin currently because the cost to get the computational power and resources to successfully affect Bitcoin is not feasible and this why we can say its impossible for the 51% hack to affect it. While others of the PoW Blockchain still suffer this, is because their number of miners are small comparably to the Bitcoin network.

You should really study more yourself before you try to teach others, the whole things is so full of mistakes I wonder where did you get this from


Miners don't create transactions den miners don't create coins either.
Users create tractions, lol, obvious and miners just receive a default reward with every block mined, you can be a miner and never produce a single coin if you don't get a block. Also miners don't validate tractions, nodes do!


No, there is no such kind of hack and the attack doesn't make sense at all!


Yes it can, it's called chain reorganization!

Your statement is not true, I've highlighted the wrong one, Minner has nothing to do with the new cryptocurrencies/tokens on the blockchain that are deployed under the smart contracts, by developers. For the rest, it's simple and easy to understand. Elaborating more on this, dinner has the role of validating the transactions made by users, securing the blockchain, and creating new blocks on the chain. The total network decentralization is based on the number of nodes and security is based on the number node participants / minners.


Blockchain is designed to be a decentralized way to store data but the decentralization of the blockchain may vary from network to network, on the basis of nodes participating in a network as Bitcoin's network is the most decentralized network compared to any of the other Blockchain networks.

Blockchain is secure but there are many things to keep in mind, blockchain attacks are also possible, direct & indirect attacks can be categorized here, the direct attack will be the one in which the hacker attempts a try to hack the blockchain data directly such as by lucnhing 51% power attack. An indirect attack can try to find the variabilities of the Dapps of the network to gain access to the keys and manipulate the assets before getting interacting with the blockchain (Supply chain attacks and smart Contract attacks).

Well, it's true that *somebody* makes money, the sad truth is that usually it's the cloud mining provider... Most of the time the person buying contracts is losing about the same amount of money the cloud mining provider is making... Maybe there's a correlation somewhere... 

Considering that most of the cloud mining operators tend to scam their users, I think the latter part shouldn't be included when your main focus is newcomers to this field ^{[it raises false hopes (unintentionally)]}.

I'm writing this to explain the word "miner" and show how important these people are to the blockchain environment. Whether you're new to blockchain or want a better understanding of this critical topic, I'm trying to give you a broad picture without getting too technical with mining.

So let's get started first with the term Bock Chain:

Blockchain is the digital technology that saves user data in the form of blocks over blocks and combines all of them in the form of a chain. Every blockchain block has a unique address that can be used to perform personal transactions.


Who is Miner?

We know a Miner is a person who mines raw materials from the earth, and in blockchain, the miner uses software that allows their computer systems to connect through any node being used for the mining process.

Who is a miner in blockchain:

Miner in the blockchain is one who participates in creating transactions of cryptocurrency and also one who is creating new cryptocurrencies and validating their transactions on blockchain. Blockchain is the way of saving data in the form of blocks over blocks and forming all of them in the form of a chain. Blockchain is basically a decentralized system that cannot be hacked. Data on the blockchain is present in encrypted form. To hack any particular transaction, the hacker needs to decrypt all the blocks of the blockchain to decrypt that particular transaction he wants to hack.

There are three types of miners that you must have to know.

Single-Person Miner:

Solo mining is one in which a single miner is responsible for carrying out the mining process on their own, without participating in a group of miners.

Pool Miner:

Pool mining is a technique that allows individual miners to earn payouts that are more consistent than those that they would receive individually. Because a large number of users are operating on the same network, pool miners in blockchain have the potential to produce a more significant profit.

Cloud Miner:

Cloud mining is a way to get cryptocurrency coins or tokens without having to use any tools or gear. For the most part, bitcoin mining coins are made by computers. Cloud mining lets you rent computer power from other people and make money. You will make more money if you rent computers.

Let's understand the advantages of Mining in Blockchain:

• When you mine, you secure transactions and put them into blocks, which makes everything very safe. Hackers can't easily change transaction data because these blocks are secured. A block is part of a record that can't be changed once it's added to the blockchain.

• Decentralization is a key part of building trust in the blockchain network, and mining helps it happen. There isn't a single point of control like in standard centralized systems. Miners check activities as a group, and a distributed network helps them come to an agreement. There is no longer any need to accept a central authority.

• Anyone with the right hardware can join the network and mine, which makes transactions possible across borders. The fact that blockchain technology has wide adoption makes it easier for people from everywhere to use it, no matter where they live.

 It would make me happy to hear about any questions or ideas you have. As I explore the complex subject of blockchain, your insights and participation are highly appreciated.