What do you mean by Bitcoin Mining?

DWQA QuestionsCategory: QuestionsWhat do you mean by Bitcoin Mining?
Editor Staff asked 2 weeks ago

What do you mean by Bitcoin Mining?

1 Answers
Editor Staff answered 2 weeks ago

Bitcoin mining is performed by bitcoin miners(a group of people). The procedure of bitcoin mining is done by specialized computers equipped for solving algorithmic equations. Miners achieve bitcoin mining by solving a computational problem which makes the chain of blocks of transactions. These specialized computers help miners to authenticate the block of transaction held within each bitcoin network. Whenever a new block added into the blockchain, immediately miners get rewards for this new block. The miners get rewards in bitcoin along with transaction fees.