Ramolak19
Verified member
Have been thinking why bitcoin is expensive among those other crypto currency coins but I later realised that it could be the process of creating new bitcoins, validating transactions, and adding them to the blockchain ledger which is known as mining are the major issues.
And In order to validate transactions and safeguard the network, miners employ powerful computers to solve proof of work algorithms, which are intricate mathematical riddles.
A miner is also paid with freshly created bitcoins after they solve the challenge and add a new block of transactions to the blockchain. Significant amounts of energy and processing power are needed for this procedure.
competitive mining environment results from the problems being increasingly difficult to solve as more miners join in. Maintaining the network's security and decentralization depends heavily on bitcoin mining. Or what’s your opinion about the process of mining bitcoin. Thanks you
And In order to validate transactions and safeguard the network, miners employ powerful computers to solve proof of work algorithms, which are intricate mathematical riddles.
A miner is also paid with freshly created bitcoins after they solve the challenge and add a new block of transactions to the blockchain. Significant amounts of energy and processing power are needed for this procedure.
competitive mining environment results from the problems being increasingly difficult to solve as more miners join in. Maintaining the network's security and decentralization depends heavily on bitcoin mining. Or what’s your opinion about the process of mining bitcoin. Thanks you
