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How bitcoin mining works?

Answers (1)

Arsalan Afzal
Feb 15, 2022 12:25:38

Answer: Bitcoin mining is a process in which transactions are verified and added to the public ledger, known as the block chain, and also rewarded with newly created bitcoins. This is how it works: Every 10 minutes or so, a new batch of bitcoins is released into the world by "bitcoin miners". Bitcoin miners are people who operate computers according to a set of rules that dictate how new bitcoins can be created. In order to create a bitcoin, a miner has to complete a cryptographic puzzle. This puzzle is essentially just a really hard math problem. The first miner to solve this puzzle and add the resulting block of transactions to the blockchain is rewarded with brand-new bitcoins.

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