Bitcoins. I'm sure you've heard of it in the last few years. This digital currency has risen significantly in value in a short time, making more and more people believe in Bitcoin. More and more people want to buy or earn Bitcoins. Earning Bitcoins is also called Bitcoin mining called. But what exactly does Bitcoin mining mean? Below I give you more information about mining Bitcoins.

With Bitcoins, there is no central authority in contrast to other well-known means of payment, including credit card and master card. At Bitcoins, millions of computers around the world monitor transactions. These computers are also called miners. All transaction data is included in a list that is visible to everyone. The transactions are put into blocks and then merged into the “blockchain”.

How does the mining work?

To earn bitcoins, two things have to be done by the miners. First of all, 1 megabyte of transactions needs to be verified. This megabyte can be a large transaction of a lot of data, but usually these are thousands of transactions. This miners can easily. Once the 1 megabyte of transaction data has been verified, a very complex calculation must be solved by the miner. The more miners, the more difficult the solution of the calculation becomes. The fastest miner is rewarded with Bitcoin. Today, there are a huge number of miners, which makes it very difficult to solve. The chance of earning Bitcoin is therefore much smaller.

Source: Zakelijkgenie.nl

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