Bitcoin Miner

Bitcoin Miner refers to the process of digitally adding transaction records to the blockchain, which is a publicly distributed ledger holding the history of every bitcoin transaction. Mining is a record-keeping process executed through immense computing power. Each Bitcoin miner around the world contributes to a decentralized peer-to-peer network to ensure the payment network is trustworthy and secure.

The process of discovering new Bitcoin is described as mining because it resembles the process of mining for any other resource. With gold mining, miners search and dig through the earth in hopes of striking gold.

With Bitcoin, miners attempt to find Bitcoin through solving complex mathematical problems. Blockchain is the technology that the cryptocurrency is built on. It is a ledger that is publicly distributed and records every Bitcoin transaction.

It is literally a digital chain of blocks. Each block contains a group of Bitcoin transaction information. Miners add to the blockchain by using computer processing power to solve complex mathematical problems. Solving the problems will result in the block being successfully added to the chain. The miner who correctly solves the problem is awarded Bitcoin.