Mining Bitcoin means mining snippets of code, called hashes, to confirm new blocks to be added to the blockchain: let’s see how.
Every 10 minutes or so, a new block is added to the Bitcoin blockchain, but to actually be added, in other words, concatenated with the previous one, it must be validated with a special code. This code is called a hash, and it is basically guessed by randomly extracting lots of hashes until the right one is found.
Bitcoin mining: how it’s done and what it’s for
This mining activity is fundamental to Bitcoin because all transactions that need to be recorded on the public blockchain must necessarily be entered into a confirmed block.
So effectively those who perform mining validate transactions, and without their work there would be no transactions validated, and therefore confirmed, on the blockchain.
Precisely because this activity is so important, the Bitcoin protocol requires that it be well remunerated.
For each new block, there are curren
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