Mining seems a strange term, but this is easily explained. When Satoshi Nakamoto first created Bitcoin he modeled it on the concept of gold. The job of mining is to provide a dedicated network that supports Bitcoin. Transactions are processed through mining and a small fee is charged. Miners also form ‘pools’ …

Bitcoin is a decentralized, digital currency that runs on a blockchain. A blockchain is like an open ledger that is verified by users all over the web. When a bitcoin is sent or received, it is processed by miners world-wide. miners operate specialized machinery that supports the Bitcoin network. A small …