What is Bitcoin

What is 'Bitcoin Mining'

Bitcoin mining is the process by which transactions are verified and added to the

public ledger, known as the block chain, and also the means through which new

bitcoin are released. Anyone with access to the internet and suitable hardware can

participate in mining. The mining process involves compiling recent transactions

into blocks and trying to solve a computationally difficult puzzle. The participant

who first solves the puzzle gets to place the next block on the block chain and claim

the rewards. The rewards, which incentivize mining, are both the transaction fees

associated with the transactions compiled in the block as well as newly released

bitcoin

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what is bitcoin

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