What is the ruling on mining digital currencies?
Digital
currency mining is the process of producing new encrypted digital
currencies and verifying the validity of the transactions that are
completed through the decentralized network known as Blockchain on which
these digital currencies operate. Mining is done mainly by solving some
complex algorithmic equations using special programs and computers.
These equations are converted into encryption codes and stored in blocks
to form a series of connected data.
حكم التجارة في العملات الرقمية
Speaking
about the ruling on trading in digital currencies in Iraq, we must
point out the ruling on this process, which has spread greatly in recent
years. So that workers in digital currency mining receive rewards and
exorbitant sums for their work once the mathematical equations are
solved and then saved in the blockchain. Mining is the guaranteed means
of securing the decentralized network on which the Blockchain technology
operates, which is the basis for the existence of encrypted digital
currencies. It is also a means of ensuring the authenticity of all
transactions completed on the network and protecting them from exposure
to forgery or piracy.
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