Anyone Who Can Tell Me How Google Adsense Work?

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i just started a new blog today. i applied for adsense and am waiting for the approval. i still don't get it how adsense work? i have questions like do i have to pay for the ads which will appear in my blog? how exactly do i earn? anyone who has been into google adsense? i need your help. i am serious in making money online. thank you.