What is Mining

Mining is a system that verifies transactions and provides security to the Bitcoin blockchain

How it Works

Bitcoin transactions are pooled together in a "Block"

Once a block is formed, miners compete to solve a puzzle.

Once a miner solves the puzzle for a block, the transactions in that block are verified by the network. The new bock of verified transactions is attached to a chain of prior block, hence “blockchain”

For solving the puzzle, a miner is rewarded with Bitcoin.