jayboi on Nostr: …continued from previous post How Bitcoin Works Bitcoin operates on a technology ...
…continued from previous post
How Bitcoin Works
Bitcoin operates on a technology called blockchain, which is a decentralized, public ledger that records all Bitcoin transactions. The blockchain is maintained by a network of computers (nodes) that validate and record every transaction.
Bitcoin transactions occur directly between users, without the need for an intermediary like a bank. This peer-to-peer nature allows for greater autonomy and reduces transaction costs.
New bitcoins are created through a process called mining. Miners use computational power to solve complex mathematical puzzles that validate transactions and add them to the blockchain. This process, known as Proof of Work (PoW), ensures the security and integrity of the network. Miners are rewarded with new bitcoins for their efforts.
Read previous post here: https://primal.net/e/note1fvxwz3e8jjxfahfgzshnxl4yk39ej3r4f98ykg6xvm5gpsc8a77scnusjh
#bitcoin #btc #nostr #newbie #learnbitcoin
How Bitcoin Works
Bitcoin operates on a technology called blockchain, which is a decentralized, public ledger that records all Bitcoin transactions. The blockchain is maintained by a network of computers (nodes) that validate and record every transaction.
Bitcoin transactions occur directly between users, without the need for an intermediary like a bank. This peer-to-peer nature allows for greater autonomy and reduces transaction costs.
New bitcoins are created through a process called mining. Miners use computational power to solve complex mathematical puzzles that validate transactions and add them to the blockchain. This process, known as Proof of Work (PoW), ensures the security and integrity of the network. Miners are rewarded with new bitcoins for their efforts.
Read previous post here: https://primal.net/e/note1fvxwz3e8jjxfahfgzshnxl4yk39ej3r4f98ykg6xvm5gpsc8a77scnusjh
#bitcoin #btc #nostr #newbie #learnbitcoin