HOW DOES BITCOIN MINING WORK

Mining need a huge attempt translated into an vast amount of computation using systems similar to data centers. Application-specific desegregated circuit (ASIC) computers are employed to supply the computational power to miners, who compete to be the first to put on the next block to the blockchain, issuing new coins and making the cryptocurrency's network reliable.

Mining generates confidence by ensuring that transactions are established only when enough computational power has been carried out to the block that contains them. The more blocks are resulted in the chain, the more trust is created.

Miners add a changeable amount of transactions which are tied together in a block. There’s no set number of transactions included in a block because it is contingent on their stored data so that each block can hold from one single transaction to some thousand. The amount of bitcoin to be issued is fixed and decreases with time through the halvening event occurring every four years.

WHY MINE BITCOIN

Just like gold or any other mineral need hard physical work to be mined and entered into circulation, Bitcoin need hard computational work to be issued . This computational attempt is a obligatory step to ensure its security.
Being digital data in the timechain, Bitcoin is revealed to copying, faking, and double-spending. The computational hard work required to mine Bitcoin is so expensive and resource-intensive that spiteful actors have a better inducement to spend such resources to mine Bitcoin rather than trying to compromise it.
Besides, it is the requisite process need to issue new bitcoin. If mining came to an end, there would still be millions of bitcoin in circulation, and the network would still be functioning. Nevertheless, the financial motive rewarded to miners authorizes fulfilling a system that would or else appear as an unfinished business.