Many people are looking for all kinds of opportunities to make as many gains as possible so it should not come as a surprise to anyone that crypto mining is becoming more popular by the day. Apart from just making sure that the miners get rewarded and boosting the crypto ecosystem, there is another very important aspect to the mining of cryptocurrency. This is that it is the sole method of adding new cryptocurrency into circulation. This can be compared with the minting of regular currencies only that this is done in free lite coin mining.
Apart from the coins that were minted from the very first block established by the founder of Bitcoin Satoshi Nakamoto, every other Bitcoin that is in existence came about as a result of the activities of the miners. If there is no free lite coin mining, the Bitcoin niche is still going to work and be functional but what is going to happen is that there will be no extra Bitcoin. If that trend continues, there will be a period when the mining of Bitcoin finishes. There is a Bitcoin protocol in place in which the number of Bitcoins has to be limited to 21 million.
But then there is another interesting aspect to everything. Since the rate of the mining of Bitcoin decreases over time, the eventual quantity of the virtual currency is not going to be in circulation until the year 2140 so there is still a lot of time into the future. But that does not translate to mean there should be no verification of all the transactions being done.
It is the task of the miners to proceed with the verification of transactions and they are going to be paid for ensuring that this is done. Their action is important as it maintains the integrity of the overall network of Bitcoin.
Apart from just getting payoffs, the free Ethereum miner is also able to get some kind of voting power when there is the need to implement changes in the Bitcoin network system. To put this in another way, the miners have some level of influence in the cryptocurrency niche.
There is an interesting point that has to be made concerning the rewards that are given to those doing mining Bitcoins. This is the fact it plunges by 50% every four years. So if what you earned in 2009 was 100 BTC when there was the first mining, then you are going to get 50BTC in 2012 and so on. Many miners are comfortable with this and it is not an issue for them at all.
For those who may want to pay attention to how the halving happens, there are several platforms and even software applications that are designed specifically for this. Initially, when Bitcoin came, people could use regular and normal computers at home to do the mining but things are a lot different now. A lot more sophisticated computer systems are needed to do the mining nowadays but it is not a problem for determined free Ethereum miners.