what is bitcoin miners/mining?

what is bitcoin miners

           what is bitcoin miners/mining -

         Many peoples have many questions about bitcoin's value,security and history, Finally goes to a place, Where do the bitcoins come from?

             Traditional money is created through (central) banks, a government decides when to print and when to distribute money. but Bitcoin does't have a central government.

              Bitcoins are "mined" by a bitcoins miner, network participants that perform extra tasks. Specifically, they chronologically order transactions by including them in the Bitcoin blocks they find. This prevents a user from spending the same bitcoin twice it solves the "double spend" problem.

what is bitcoin miners

             The process of spending computing power to process transactions, secure the network, and synchronize everyone in the system together. It can be treated like a bitcoin data center except that it is fully decentralized with the miners operating in all countries and no person controls the network. This process is known as "mining". Bitcoin Mining provides a reward in exchange for the useful services needed to operate a secure payment network. Mining will be required even after the final bitcoin is released.

what is bitcoin miners

              Now it's become very difficult to mine bitcoin and the kind of hardware to run it, and also it's very difficult to handle its maintenance. Better work will be to invest in already existing mining companies.

            There are currently 2 types of mining companies at present and they are cloud and hardware mining. Cloud mining is where you buy power and you earn a bitcoin for the power you have purchased. Hardware mining is the place where you invest directly in hardware. 

          This is the best time to mine cryptocurrency the price are shooting up and it is a good sign for miner.

You Might Also Like