Coin mining refers to the process that miners use mining machines, consume electricity, calculate algorithm topics (solve the problem of workload proof mechanism of a certain workload to manage bitcoin network-confirm transactions and prevent repeated payment), work out standard answers (obtain the right to generate blocks and successfully generate new blocks), and obtain a certain amount of monetary reward (bitcoin).

Everyone (a network node) broadcasts the transaction to the whole village (the whole network). After these broadcast transactions are verified by miners (computers on the network), miners use their own algorithm answers (work proof results) to confirm. The confirmed transaction will be packaged into data blocks (a page account book), and the data blocks will be strung together to form a continuous data blockchain (the whole account book).

When a person (node) finds an algorithm answer that meets the requirements, then it can broadcast its own results to the whole network. Others can receive the newly solved data block and check whether it is qualified.

If others really meet the requirements through calculation (the operational goal required by Bitcoin), then the page account book (data block) is valid, others will accept it, and they will be rewarded accordingly.

? Mining capacity

Every time a miner successfully records a page of books, a certain number of new bitcoins will be born to motivate the miners who successfully record books.

The Bitcoin system determines the number of bitcoins to be issued according to Mr. Satoshi Nakamoto's preset rhythm.

In addition to mining incentives, miners will also receive handling fees.

Because miners can decide whether to package a transaction data into a data block, it is possible for miners to give priority to transactions with higher handling fees.