Bitcoin mining is the process of verifying transactions on the blockchain network by solving complex mathematical equations. This process requires high computational power and energy consumption, making it a lucrative but challenging activity. In this article, we’ll discuss the basics of Bitcoin mining, the role of ASICs, and the different types of mining hardware available.
What is Bitcoin? It’s a digital asset, often referred to as ‘coins,’ with ownership recorded on a decentralized electronic ledger known as Bitcoin’s blockchain. This ledger is continually updated on approximately 10,000 independently operated computers worldwide, which communicate and synchronize. Transactions, representing the transfer of ownership of these coins, are generated and validated according to
Many often consider bitcoin as a store of value due to its limited supply and decentralized nature. Unlike fiat currencies, which can be printed at will by central banks, Bitcoin has a fixed maximum supply of 21 million coins, which makes it a deflationary asset. This means that as demand for Bitcoin increases, its price