Category: Crypto Currency Interview Question

Mining is the process of verifying and adding transactions to the blockchain. Miners use powerful computers to solve complex mathematical problems, and the first to solve it receives a reward in cryptocurrency. This process secures the network and ensures the integrity of transactions.

Bitcoin operates on a decentralized peer-to-peer network. Transactions are verified and added to the blockchain by miners, who solve complex mathematical problems to earn Bitcoin rewards. The network maintains a record of all transactions, ensuring transparency and security.

Blockchain is a distributed ledger that records transactions in a secure and transparent manner. It consists of blocks, each containing a batch of transactions, linked together in a chronological chain. Each block is encrypted and linked to the previous block, making it tamper-proof.