What is Bitcoin Mining?
Bitcoin mining is the process of validating transactions and adding them to the Bitcoin blockchain using powerful computers. Miners solve complex cryptographic puzzles, ensuring network security and earning rewards in the form of newly created bitcoins.
How dose a Bitcoin Works?
Bitcoin works on a decentralized network called blockchain, which records all transactions transparently and securely. Users send and receive bitcoins using digital wallets, with transactions verified by miners who solve complex mathematical problems to maintain the network's integrity.
What is Proof of Work?
Proof of Work (PoW) is a consensus mechanism used in blockchain networks like Bitcoin to validate transactions and add new blocks to the chain. It requires miners to solve complex mathematical puzzles, proving they’ve expended computational effort, which secures the network against fraud or attacks.
