What is Bitcoin Mining?
Bitcoin mining is the process that keeps the Bitcoin network runnings. Miners are people who use powerful computers to solve complex puzzles that conifrm and record transactions on the blockchain. As a reward for their work, miners receive new Bitcoin.
When Bitcoin first started, almost anyone could mine it with a normal computer. Today, mining requires very specialised and expensive machines, because the puzzles ahve become so difficult. This means most beginners won’t mine Bitcoin themselves, but it’s still important to understand, because mining is what makes Bitcoin secure and prevents fraud.
Mining is energy intensive, which has raised concerns about its impact on the environment. This is why some newercryptocurrencies use different methods, like proof of stake that don’t require as much energy.