Hey guys, I would like to see a summary of mining.
I was going through the mining technologies, And I am confused by hearing about pool mining, cloud mining and mining at home solo. There are only explanations about mining bitcoin, is it any different with others altcoins that are on blockchain?
It is also really unclear to the explanation - “Miner’s are doing some crazily complicated math” - What are they doing? I read the information about kind of hacking and finding a code to add it to the blockchain. Is that right? And the proof of work in this story.
Is there any analogy that would simplify this mining process?
The info about random rewording of a miner, is that only in theory when everyone has the same computing power?
I am sorry if this is discussed on the crypto pub in a different post, this is my first post/question.