What is the role of miners in the cryptocurrency network?

Miners play a critical role in the cryptocurrency network by validating and confirming transactions. They use computational power to solve complex cryptographic puzzles, which ensures the security and integrity of the blockchain. In proof-of-work (PoW) systems like Bitcoin, miners compete to find the correct hash for the next block in the blockchain, and the first miner to solve the puzzle gets to add the new block to the chain and receive a reward in the form of newly minted cryptocurrency. This process is called mining. Miners also help decentralize the network, making it more secure and resistant to fraud or attacks by verifying transactions in a transparent and distributed manner.