How Bitcoin's are mined? (a simple explanation if poss.)

Valvodor

New member
Nov 18, 2018
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#1
I've been reading up on Bitcoin mining, and still pretty stumped about exactly what's happening.. Is mining BTC the same as mining Ethereum?
 

IVOnoXx

New member
Nov 18, 2018
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#2
Mining does two main things: incentivises adoption to secure and become involved in a blockchain, and it provides a way that all nodes can come to an agreement on what the order of block placement is by introducing a competition that has a winner.

That's it really, if you're going to have a chain of blocks (blockchain), and everyone involved in building are disconnected and have opposing goals (game theory), then you introduce a competition which leads to consensus throughout the network of which blocks are placed. There's more to it as well, from the point of view of how the network is secured by the longest chain always being used to protect again fraudulent chains being created by attackers.