Terms Beginning With 'b'

Bitcoin Mining

  • January 17, 2020
  • Team Kalkine

The process of adding transactions to the bitcoin public ledger is known as bitcoin mining. The addition of past transaction to the bitcoin ledger is known as blockchain which confirms the transaction to the rest of the network.  Bitcoin uses a hash cash proof function to validate the transactions. Under the bitcoin mining process, miners can reward themselves with bitcoins if they detect a block.  However, the miners will need the consent of each one in the blockchain network.

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