Haks Bitcoin World

BITCOIN MINING (Newbie) Bitcoin mining is a process used to secure and validate transaction from the wallet of one user to another. This validation occurs in a decentralized network. The receiver can only receive the bitcoin if the sender transaction is validated. Validation is in the form of mathematical computation which the mining equipment performs and receives some bitcoins fom performing the operation kind of like the service charge as in Money exchange companies. Since its decentralized it goes through many systems in the Blockchain network to verify the transaction, so if one system is hacked the other systems in the Blockchain will verify it, unlike the centralized banking system. Mining can be done by any computational device, but only the devices that have good computational speeds can validate a transaction faster. Mining speed depends on the Hash-rate or Hash-power which varies from system to system.  The Space where mining is done is cal