I recently became interested in cryptocurrency and its mining process but there are a few things I don’t understand very well and I am still trying to learn the basics more before getting into trading and mining. I am totally new to this and still looking around to just understand it first.
- i read that currency is mined by solving cryptographic equations. what are these equations basically and what are they used for and apart from you getting a reward for solving them i.e. cryptocurrency
- apart from you who or what else benefits from the solution of such equations like what is the impact of it
- what made these equations i.e. their origin
- is the 21million limit on bitcoin fixed or can it be changed. on a website I read that this limit has been determined from extrapolating its existing functions and parameters.
Apart from this any helpful information or websites to learn from would be greatly appreciated because I realize that this is very complex and it will take me a while to familiarize myself with it. Thank you