Bitcoin mining explained
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Bitcoin mining involves using hardware to solve complex mathematical problems in order to validate transactions on the Bitcoin network and generate new bitcoins. Miners compete to solve these puzzles first and are rewarded with bitcoins for successful solutions. While the process sounds complicated, modern technology has advanced so that average computer users can also participate in mining to earn bitcoin rewards.
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Bitcoin mining explained
- 1. BITCOIN MINING EXPLAINED What Is The Purpose of Mining? To use our hardware in order to protect the financial network, making some money along the way. bitcoinminingsoftware2019.com How Mining Works? As we already said- Bitcoin mining is a process of solving mathematical problems for which you get rewarded in Bitcoin. If you can imagine those problems as puzzles- everyone is trying to solve a puzzle, and whoever solves it first gets 1 Bitcoin. About Bitcoin Mining In it's simplest form, Bitcoin mining is a process of generating Bitcoins by solving complex mathematical/cryptography problems. That may sound scary and complicated- and it is under the hood- but luckily the technology has advanced enough so that you- the average PC user- can also mine Bitcoin and make some money.