What Is Bitcoin Mining? A Simple Guide for Everyone
Bitcoin mining = Verifying transactions + Earning Bitcoin rewards
Bitcoin mining is the process that keeps the Bitcoin network running safely and smoothly. But what exactly does that mean?
Think of mining like solving really hard puzzles on a computer. Miners use powerful computers to solve these puzzles, and when they find the right answer, they help verify transactions (like someone sending or receiving Bitcoin). This process makes sure that no one cheats or tries to spend the same Bitcoin twice.
As a reward for their work, miners receive newly created Bitcoins. That’s how new Bitcoins enter the system!
Mining also helps keep the Bitcoin network decentralized, meaning no single person or company controls it. Anyone with the right equipment can become a miner and be part of the system.