How are Bitcoins Created & Earned?-Blockchain Made Simple
Blockchain Made Simple:
Blockchain is one of the hottest sectors in the market, yet few investors really understand what the blockchain is, and how it works. This is why DMG Blockchain Solutions is presenting Blockchain Made Simple. Hosted by Dan Reitzik, Blockchain expert and CEO of DMG Blockchain Solutions; Blockchain made Simple is a series of fun, easy to digest videos, answering questions like What is Cryptomining? What is Bitcoin? and How do I buy Bitcoin?
How are Bitcoins Created & Earned?
The only way to earn new Bitcoins from scratch is to ‘mine’ them. To become a bitcoin miner, you need a very fast computer and the right software to solve a specific math puzzle using what is called a hash function — Solving that puzzle entitles the miner to add a new block to the chain of existing blocks — or blockchain, which is a digital ledger that keeps the entire transaction history of every bitcoin ever mined or transacted. Because modern bitcoin mining is most optimally performed at an industrial scale, companies are more suited to profitably mine than individuals.
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