First of all excuse me if you think its a noob question, but consider me a noob as I am trying to understand.
I've got a couple of questions about mining, (which I think fits in bitcoin section rather than the mining section)
First: Why do bitcoin needs mining?
Second: What do they actually mine?
I've got a couple of questions about mining, (which I think fits in bitcoin section rather than the mining section)
First: Why do bitcoin needs mining?
Second: What do they actually mine?
Governments print more money from thin air and then they transfer that money to banks and these banks then have central control over that
money on their internal ledger systems. { To see who owns what amount, linked to what account } Bitcoin does not have a central service or
server to do this, so they use a decentralized network of nodes to solve complex mathematical algorithms to generate coins and then the
distribution log / transfer of these coins are stored on a decentralized Blockchain that are stored on these nodes.
That is the simple and easy version of this ..... it gets a lot more technical.
