What Is Bitcoin Mining...??
Bitcoins Oprates as a pear-topear network that means everyone who using Bitcoin is a tinny fraction of the bank of Bitcoin,But Where do Bitcoins come from....??!
With paper money a government decide when to print and distribute money Bitcoin doesn't have a central government,With Bitcoins miners use spacial softwears to solve math problems and are issued a certen number of bitcoins in exchange.This provides a smart way to issue the currency and also creates an incentive for more people to mine,And since miners are requaired to aproved Bitcoin transections More Miners Mean More Secure Network.
The Bitcoin Network automatically changes the difficulty of the math problems depending on how fast they are being solved.In the early days solved these math problems with the processors in there computers,Soon Miners discovered the graphics card used for gaming were much batter suted to this kind of math.Graphics cards are faster,They use more electricity and generate a lot of heat.
The First commersial Bitcoin mining products included chips that were re-programed for mining Bitcoins.These chips were faster but still power hungry.ASIC or Application Specific Integrated Currcet Chips are designed spacificly for Bitcoin mining.ASIC technology has made Bitcoin mining More faster while using less power.
As the papolerty of Bitcoin increases more miners join the network making it more difficult for indivisuals to solve the problems,To over come this miners have developed to work togather in pools.Pools of miners find solutions more faster then their indivisual members and each miner is rewarded perpotionate to the work he/she has provides.
Mining is an importent and integral part of Bitcoin that insure fareness while keeping the Bitcoin Network Stable,Safe and secure. Hope this small post helped you understand Bitcoin mining.
