Everything You Must Know About Bitcoin Mining and Role of Hardware in the Mining Process
Bitcoin, the digital currency, is an innovative form of making payments and exchanging money, which is helping a lot of people across the globe to make monetary transactions with great ease. One will need to understand the entire concept as it involves lot of numbers, maths and complex puzzles. Bitcoin mining is decentralized and in some countries there is no official body regulating it. This gives rise to the need for mining. What is Bitcoin Mining? Mining is the process of validating transactions carried through digital currency. It is important to consider that the digital transactions are duplicated and copies of the ledger exist in numerous places making cheating or faking transactions nearly impossible. Hence, Bitcoin mining is known as the process which verifies and adds the transactions to the public ledger. The public ledger is better known as the blockchain. It is also the means which produces new Bitcoins. The process of Bitcoin mining compiles recent transactions