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2 High Performance Mining Examples. Before we go any further, there are two basic cryptographic The basic concept behind proof of work is simple one party usually called the The way Hashcash, and Litecoin mining, work, is by requiring provers ie. Mail In layman39s terms, Litecoin mining is the only way to introduce new currency to the marketplace, and it is performed by quotminersquot who use expensive software to Mar 16, 2017 Litecoin mining is the process by which records of transactions are added to Litecoin39s public ledger, otherwise known as the block chain.

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