What is Bitcoin mining ? | How to earn Bitcoin ?

As you know that Bitcoin is a decentralized digital currency. So, there is no existence of any authority to control this. Hence, here is no one authority who can verify the transactions made with Bitcoins. If you don't know about Bitcoins, I recommend you to see the blog where I've discussed in detail about Bitcoin.

So, What is Bitcoin mining ?

    So, for all those process or to verify transactions made via Bitcoins are have to verified by someone. So, here's came the concept of mining. Mining is nothing but getting some Bitcoin in form of reword of verifying the transaction. Someone have to solve a complex mathematical equation and who does at first, he/she gets the reword.

    Bitcoin transactions are made globally and increasing now a days. The details of the transaction is compiled with a hashing algorithm and you have to solve the mathematical problem to find that. There are many hashing techniques available in the market. But, for example, Bitcoin transactions uses a hashing algorithm called as SHA-256. A hash takes a chunk of data as input and shrinks it down into a smaller hash value (in this case 256 bits). With a cryptographic hash, there's no way to get a hash value you want without trying a whole lot of inputs.

   For solving the hashing algorithm your computer should be very powerful and capable to such huge loads. For mining, it is seen that, the GPU(Graphic Processing Unit)'s performance is much better than CPU(Control Processing Unit)s. But the process is very power consuming. So, you must take care of  the ratio of your mined Bitcoins and the electricity bill of your home or office. Because, the rewords are so small amount of money is given for those all. For those power consuming issues, a new bionic chip or processor was invented that consumes less power and the performance is increased. But that processor is quite expensive.

    The interesting fact about Bitcoin is, mining is the only way to generate more new Bitcoins. For that reason it is literally means mining and called as Bitcoin mining. There is not only Bitcoin that is mined. There are so many other cryptocurrencies that peoples are mining like Monero mining, Etherium mining etc.