𝑻𝒉𝒆 𝑷𝒓𝒐𝒇𝒊𝒄𝒊𝒆𝒏𝒕 𝑺𝒐𝒏𝒈𝒘𝒓𝒊𝒕𝒆𝒓, 𝑩𝑨𝑵𝑮 𝒀𝑬𝑫𝑨𝑴.

𝑻𝒉𝒆 𝑷𝒓𝒐𝒇𝒊𝒄𝒊𝒆𝒏𝒕 𝑺𝒐𝒏𝒈𝒘𝒓𝒊𝒕𝒆𝒓-𝑩𝑨𝑵𝑮 𝒀𝑬𝑫𝑨𝑴 Telegram | DID YOU KNOW?

The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothers—or maybe the next Silverado?—echoed through the canyons of Wall Street as investors prepared for the worst.

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. “This is how new coins are created” and new transactions are added to the blockchain, says Okoro.