Your Go-To Bitcoin Mining Guide
— What is bitcoin mining?
Bitcoin is the most popular cryptocurrency in existence today, built on blockchain technology for total peer-to-peer control without any government or third party interference. Referred to as “digital gold,” in order to obtain Bitcoin, it has to first be mined. Legal and accessible, Bitcoin mining takes place by running SHA256 double round hash verification processes using complex computer hardware in order to validate the transactions and safeguard security for the Bitcoin public ledger. The speed at which you mine Bitcoins is measured in hashes per second.
For the Bitcoin miners of the world, they are compensated for their efforts by releasing Bitcoin to those who contribute to the needed computational power. This can present itself as newly issued Bitcoins, as well as transaction fees included from mining the cryptocurrency. The more computing power you contribute to the end result, the greater your share of the reward and overall profits by the time it’s all said and done.