Information. 🤔
What does Bitcoin mining mean 🙄??!!!
Bitcoin mining is a process in which computers are used to solve complex mathematical problems, to help verify and document transactions on the Bitcoin network. When these problems are successfully solved, a new block is added to the blockchain and a reward is given to the miner who solved the problem.
The process requires very complex calculations, which makes it consume a lot of energy. This is called "mining". The goal of mining is to maintain the security of the Bitcoin network and prevent any kind of manipulation of transactions or the creation of counterfeit currencies.
The reward that the miner gets is usually part of the transactions in the block as well as a new reward that is created when a new block is added to the chain, and this reward is gradually reduced over time through what is called "hashing", which occurs every four years.
The last Bitcoin halving (or “hashing”) took place on May 11, 2020. During this event, the reward for miners was reduced from 12.5 BTC to 6.25 BTC per block.
The next halving is expected to occur in 2024, when the reward will drop again to 3.125 BTC per block.
