How Bitcoin Mining Works ?

How Bitcoin Mining Works ?

Published on 18 May 2023

A Moovly project generated with GPT.

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Transcript
00:00
Bitcoin mining is the process of verifying and adding transaction records to the public ledger, known as the blockchain.
00:08
It requires powerful computers to solve complex mathematical equations.
00:13
Miners are rewarded with Bitcoin for their efforts.
00:16
The process is energy-intensive, as miners need to solve more equations to earn more Bitcoin.
00:23
The difficulty of these equations adjusts as more miners join the network.
00:28
As a result, miners must continuously upgrade their equipment to stay competitive.
00:34
Bitcoin mining is an important part of the Bitcoin network, as it keeps the network secure and ensures that all transactions are valid.