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How Does Bitcoin Mining Work?

Bitcoin mining is the process of adding new transactions to the Bitcoin blockchain. It’s a tough job. People who choose to mine Bitcoin use a process called proof of work, deploying computers in a race to solve mathematical puzzles that verify transactions.To entice miners to keep racing to solve the puzzles and support the overall system, the Bitcoin code rewards miners with new Bitcoins. β€œThis is how new coins are created” and new transactions are added to the blockchain, says Okoro.

π‘¬π’™π’’π’–π’Šπ’”π’Šπ’•π’† 𝑢& 39;π‘·π’π’Šπ’”π’† π‘Ήπ’π’˜π’π’†π’š from SG

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Created: 2024-09-03

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