Bitcoin mining is the process where transaction and payment of Bitcoin happens over the secure network of computers. Anyone who is interested in Bitcoin mining can participate in the process, he just has to have the internet connection and suitable hardware. The process is to simply solve the computationally difficult mathematical problem and store the recent transaction in the blocks. The miners make money by solving these problems and gets a chance to place the next block. But most importantly the miner should be ready to invest significant time and resource to be a miner.
The blockchain on the network verifies the genuine transaction, it rejects those bitcoins which is already been spent elsewhere on the network. Bitcoin mining was intentionally designed difficult so that the blocks remain secure and steady over the time. Each individual block on the blockchain contains proof of work to validate the blocks it receives. POW also makes the blockchain immune by preventing it from the duplicate transaction.
By mining miners add new Bitcoin to the system for this they are rewarded with block rewards. These rewards motivate the miners to work for new Bitcoin in a decentralized manner. Over the last few years mining Bitcoin alone has become difficult so pool mining is introduced, where a group of miners can work together for mining Bitcoin. The reward block gets distributed among them according to their contribution for mining.
Compared to other cryptocurrency Bitcoin has developed its own mining pool, where they have introduced different payment options like PPS and PPLNS. In PPS i.e. pay per share, the miner gets his payout directly for completing his share. In PPLNS i.e., pay per last N share this determines how many Bitcoin you get for completing your share.
Making money by mining Bitcoin has become popular in the digital world, among all other cryptocurrency mining Bitcoin is more rewarding. Previously Bitcoin mining was done from the simple desktop computer with normal CPU but now with the advancement of the technology Bitcoin is mined from computers with GPUs i.e., Graphics processing unit which gives more effective mining experience. In the present scenario of trading, it is important for a trader to learn crypto trading to stay in the market. Everyday huge trading opportunity is created in the digital world, anyone with moderate technical knowledge can participate in it and can make huge money. To know more about Bitcoin mining navigate here.