What is Bitcoin Mining, and how is it done?
If the term ‘crypto mining’ sounds confusing to you, you’ve come to the right place. In this Forkast.News video explainer, we break down how it all works.
If the term Bitcoin mining sounds confusing to you, you’ve come to the right place. In this Forkast.News video explainer, we’ll break down how Bitcoin and other cryptocurrencies are mined, who Bitcoin miners are, and how they are rewarded for securing the network. From mining rigs to mining difficulty, we will explain all you need to know about Bitcoin mining.
What you will learn from watching this video:
- How does Bitcoin mining work, what secures the network and who verifies transactions?
- Why must Bitcoin mining rigs compete with each other?
- What are mining rewards, and how do miners earn them?
- What does mining difficulty mean, and what kind of computational puzzles must miners solve?
- Is Bitcoin mining the only way that new Bitcoin is put into circulation?