
What is Bitcoin and how does bitcoin mining works exactly?
Bitcoin was the first cryptocurrency to be introduced and it is the most widely used across the globe. It is a decentralized form of currency which means that it does not rely on a bank or a central authority for transactions to occur. This form of currency is created and held electronically, known as digital currency. This cryptocurrency form has been designed in a way where it can be used as an alternative to normal currencies. Those who participate in transactions using this form of currency are called Bitcoin miners. What is Bitcoin? Bitcoin is a form of cryptocurrency. It is a type of digital currency with no central bank or single authority that can be sent directly from one to another. Network nodes use cryptography to verify transactions, which…