Tuesday, October 26, 2021

Now it is easier to mine Bitcoin at home | Personal finance

Must Read

What is bitcoin mining? Start Investing in Crypto

Computers attempting to mine bitcoin run a program that is essentially a a trial-and-error algorithm, performing millions of calculations to solve the computational puzzle.

Bitcoin mining is how new bitcoins are created, and it involves solving a complicated math problem. Or, at least, your computer solving a complicated math problem.

If you’re successful, you get what’s called a “block reward,” or a fixed number of new bitcoins (BTC). One block equals 6.25 BTC, but the rewards are halved after every 210,000 blocks, or about every 4 years. This was part of Bitcoin’s design to ensure that a maximum of only 21 million bitcoins are created (currently, there are nearly 19 million in circulation).

News Highlights Business

  • Now it is easier to mine Bitcoin at home | Personal finance
  • Check all news and articles from the Business news updates.
Disclaimer: If you need to update/edit this article then please visit our help center. For Latest Updates Follow us on Google News

More Articles Like This

Latest News