Bitcoin Mining .

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Intro to Blockchain mining
Most Of us already know what Bitcoin is, but how exactly is it generated? It is done through Bitcoin Mining.It isnt like a western fantasy of gold and ⛏️.
Well that isnt too far off either. Basically bitcoin mining is basically a process of solving complex computational math problem ,these problems are so complicated that they cannot be solved by pen and paper but need very fast computational devices and sometimes can be very taxing on them too.

Bitcoin mining leads to two things:

1. On solving the math problem they produce a new Bitcoin
2. Solving these complex problems also leads to
   a Bitcoin payment network wich is trustworthy and secure

If someone sends a Bitcoin anywhere it is known as a ' Bitcoin Transaction'. Miners basically clump transactions together in blocks and add them to a record called block chain.Nodes maintain records so that they can be verified in the future.The job of miner's is to make sure while adding new blocks the transaction is accurate (basically here making sure that the Bitcoin is not being dublicated.Simce there's a risk that a spender maybe holds onto the currency but just sends a copy during the transaction.

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A Block Reward is basically the amount of bitcoin mined in every block. Usually the block reward is halved in every 210,000 blocks which is approx every 4 years. Basically the Bitcoin mining can be continued upto 2140 as the no. of Bitcoins are finite too.These halvings reduce the rate at which the rate of the available supply.Thid way the currency is finite and gains more value oversupply

Verifying The Transactions
For miners to earn from transactions these 2 things must happen
✔️They must verify one mb of transactions which is usually over thousands of transactions
✔️To actually add a block of transactions to a blockchain they need to come up with a 64 bit hexadecimal no. called "hash" that is less than or equal to the hash.

Evolving Tech
Miners rate has been increasing over the years due to the evolving technology.Mining is more like a gamble but the more faster your computer is the more the chance of you getting it right.The rates have been increasing from megahashes per second to gigahashes per second to now terahashes per second. So to the keep up with the evolving tevh the complexity of the has is also increased ... currently the probability of getting one hash correct is 1 in 16 trillion.