Everything You Need to Know About Bitcoin Mining
The term bitcoin mining refers to the process where brand-new bitcoins are made and put into circulation. Along with that, bitcoin mining is how the network works to confirm the latest transactions, providing an essential service for the blockchain’s infrastructure maintenance and expansion.
It’s important to note that this process is complex, expensive, and sporadic, much like a modern-day gold rush.
The actual process of mining involves highly specialized hardware that’s responsible for solving complex computational mathematical problems. The first computer that can complete this task receives a reward, a new block of bitcoins, with this process starting all over again.
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