What is Bitcoin mining?
How people mine bitcoins?
Bitcoin is getting huge coverage, but how are these, and other cryptocurrencies created?
It may not be the simplest concept, but these videos do make things a little clearer – albeit that it is possible to be distracted by the first presenter’s committed ‘mo’.
In a nutshell, ‘miners’ are solving math problems and creating ‘blocks’ in the underlying technology and are rewarded with bitcoins.
Instead of doing it on their own, they use computers and special software; they also team up to mine bitcoins more efficiently, which delivers more lucrative income from bitcoin mining.
Learn more about blockchain technology here