What is Bitcoin Mining and How it Works?

in #bitcoin2 years ago

Decentralised network used to verify and secure Bitcoin transactions from one end to another through a peer-to-peer computer process is Bitcoin Mining. Steps in Bitcoin mining-

Verifying whether the transaction is valid or not.
Collecting transactions in the form of a block.
Select the header of the most recent block and adds it into a new block as hash.
Solving the algorithms for proof of work (POW).
When the algorithm is solved then new block is added to ledger which is known as Blockchain and propagates to the networks.
For more visit the link- http://bitboysinternational.com/what-is-bitcoin-mining/


Great post! I just followed you and upvoted you! Follow me back @relsserd.

Congratulations @navrathee! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!