Team Members
Bitcoin Mining
Currently, all transactions online go through a third party like a bank, financial institution, e-commerce, etc. With the use of bitcoins, a new digital internet currency, there is no need for a third party to authorize transactions. Everything is verified by the network, itself.
Every transaction is hashed into a block. Through an exhaustive search, the blocks are solved and are replicated throughout the network. Bitcoin mining involves solving these blocks. Every time a block is solved, the miner is rewarded with a certain number of bitcoins, depending on the rate.
Every transaction is hashed into a block. Through an exhaustive search, the blocks are solved and are replicated throughout the network. Bitcoin mining involves solving these blocks. Every time a block is solved, the miner is rewarded with a certain number of bitcoins, depending on the rate.