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I was mining dogecoin way back and I am currently regretting selling them all ๐ I shouldโve HODL.
ย ย You might be curious on how dogecoin mining works, hereโs how (via Coindesk)
Dogecoinโs blockchain network employs the same system for adding new blocks to its decentralized ledger and reaching agreement among its network participants asย bitcoin,ย litecoinย and many other cryptocurrencies.
Known as a โProof-of-Workโ (PoW) mechanism, this process involves โminingโ where individuals or organizations compete for the right to add new blocks containing pending transactions to the blockchain ledger using specialized computer equipment.
So more simply, Miners uses their machines to create a fixed length code known as โhashโ the bigger your hash rate the more coins you can mine at a timeย ย