Mining in numbers

Bitcoin is a decentralized cryptocurrency that was first introduced in 2009. Unlike traditional fiat currencies, which are issued by central banks, Bitcoin is not subject to any central authority. Instead, it relies on a peer-to-peer network to verify and record transactions. Bitcoin is also unique in that there is a limited supply of 21 million coins. This scarcity has helped to drive up the value of Bitcoin, as more and more people have begun to invest in the currency. Blockchain technology underlies Bitcoin and other cryptocurrencies. Blockchain is a distributed ledger system that allows for secure and transparent transactions. Blockchain records are immutable and cannot be tampered with, which provides security and trust for users. Bitcoin mining is the process by which new coins are created. Miners use powerful computers to solve complex mathematical problems in order to validate transactions and add new blocks to the blockchain. In return for their work, miners are rewarded with newly minted bitcoins. Bitcoin mining has become increasingly specialized and requires significant investments in hardware and electricity. As a result, most miners join mining pools in order to pool their resources and increase their chances of earning rewards.