Understanding Bitcoin
Bitcoin has gained a lot of popularity since it launched in 2009. The price volatility in the bitcoin engages more investors to invest in bitcoin. It is one of the most popular cryptocurrencies out there in the market that works on a decentralized computer network. Like many other popular cryptocurrencies, bitcoin is also powered by blockchain technology. In simple terms, bitcoin mining can be understood as simply adding new blocks to a chain.
What is bitcoin mining? How does it work?
Cryptocurrencies are one of the most advanced pieces of technology, attracting investors throughout the globe. Among these cryptocurrencies, Bitcoin is one of the most popular ones. It’s a simple digital currency that works on a decentralized network and doesn’t involve any financial institution or government. Bitcoin turned out to be quite profitable for many people. However, investing in bitcoin has many downsides, too, like its prices are very volatile, and still, it’s not accepted as a currency in most parts of the world.