 |
| Bitcoin Mining |
What is bitcoin mining?
The mining bitcoin is the process of investing in
computational capacity to process bitcoin transactions and ensure security of
the bitcoin network . It could be said that it is the data center of Bitcoin,
this has been designed to be completely decentralized with miners operating in
all countries of the world and without anyone having absolute control over the
bitcoin network. This process is known as "mining" or Bitcoin mining
, since it is also a temporary mechanism that is used to issue new bitcoins ,
unlike gold mining, Bitcoin mining offers a reward in exchange for these
services that are useful and necessary for the bitcoin payment network to work
safely.
Crypto Trading Bots Coupon, Deals <<< Up to 50% OFF all the Best Trading Bot Tools
How does bitcoin mining work?
 |
| Bitcoin Transaction |
For the new transactions to be confirmed, it is necessary to be included in a block with a mathematical work test. These tests are very complex to calculate and the only way to pass them is by making billions of mathematical calculations per second. The miners must make these calculations before their blocks are accepted by the bitcoin network and well before being rewarded. The more people start to mine, the difficulty of finding valid blocks is automatically increased to ensure that the average time to find a block is always 10 minutes. As a result, mining is a very competitive task where no miner can control by itself what is included in the chain of blocks.
 |
| Escrow Agent |
Bitcoin miners can not cheat by increasing their own reward or processing fraudulent transactions that could corrupt the Bitcoin network, if this were the case all Bitcoin nodes would reject any block containing invalid data, as specified by the Bitcoin protocol rules . Thus, the network remains secure even if not all Bitcoin miners are trusted.
Bitcoin Buy / Sell Link
