Bitcoin mining is relatively simpler than it appears. But generating good profit, in the long run, is challenging enough. Since its inception in January 2009, it has been the world’s largest decentralised digital currency by market capitalisation. Bitcoin allows peer to peer transfers without the involvement of intermediaries like banks, other financial institutions or brokers. All bitcoin transfers occur using the underlying technology of blockchain.
Bitcoin mining is the process of creating new bitcoins and verifying bitcoin transactions to maintain and develop the blockchain ledger upon which bitcoin is based. Anyone can become a miner if he has mining hardware and internet access with a sophisticated ability to solve extremely complex computational math problems.
Blockchain is the underlying technology of Bitcoin. Transactions are placed in chronological order in a public distributed blockchain ledger. The good thing about blockchain is that once the transaction or record is added to the blockchain, it cannot be modified or altered neither. Transactions are safe from hacking in the blockchain ledger.
