What is Bitcoin mining?

by SMEBOOK (admin) ยท October 16, 2020

Bitcoin mining in simple terms is the process of creating new bitcoins by solving a computational puzzle. Miners earn Bitcoin as a reward for adding a new block of transactions to the blockchain. The amount of new bitcoin released with each mined block is called the "block reward". To put the mining process in simpler terms, bitcoin miners are work as auditors verifying Bitcoin transactions and recording them and in return they are rewarded with Bitcoins.

What is Bitcoin mining?

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