How people mine bitcoins?

 

Bitcoin is getting huge coverage, but how are these, and other cryptocurrencies created?

It may not be the simplest concept, but these videos do make things a little clearer – albeit that it is possible to be distracted by the first presenter’s committed ‘mo’.

In a nutshell, ‘miners’ are solving math problems and creating ‘blocks’ in the underlying technology and are rewarded with bitcoins.

Instead of doing it on their own, they use computers and special software; they also team up to mine bitcoins more efficiently, which delivers more lucrative income from bitcoin mining.

Learn more about blockchain technology here

 





Leave a Reply

You must be logged in to post a comment.