How to mine a Bitcoin block.
17 Apr 2023, 18:24
How to mine a Bitcoin block?
The process is much simpler than you think, in fact I'll bet a dinner that you're capable of figuring it out in less time than it takes to ride down the elevator. 👇
Steps:
1. Transaction: The user sends a transaction from their wallet.
2. Compilation: Pending transactions are compiled, before being included in the chain.
3. Formation: Each miner selects the transactions to be included in his block.
4. Proof of work: Each miner performs a complex mathematical calculation unique to each block.
5. Transmission: When a miner finds the correct answer, he/she transmits the block to the other miners so that they can validate it.
6. Verification: The other nodes are responsible for validating and verifying that the block and the hash meet the system's conditions.
7. Confirmation: Once the block has been added, all others added on top of it will count as a confirmation.
Now you probably know a little more but, if you want to become an Expert, GET YOUR FREE MINING GUIDE HERE.