The action of processing Bitcoin transactions by using powerful computers to solve complex mathematical problems and recording them in the Bitcoin ledger. Miners are people who compete to add the next block to bitcoin’s blockchain network and for doing so, they are rewarded in bitcoin. SHA-256 is the hash function that is used for Bitcoin mining.

Looking for world-class cryptocurrency portfolio management tools? Manage your digital wallets across multiple exchanges and trade anytime, anywhere.  Sign up for Coinigy Now