What does bitcoin mining mean?

Mining is a decentralized settlement process, and each settlement verifies and settles the transactions handled. Mining protects the security of the bitcoin system and enables the entire bitcoin network to realize * * * knowledge without a central organization. The invention of mining makes Bitcoin special, and this decentralized security mechanism is the basis of peer-to-peer electronic money. The reward and transaction fee for minting new coins is an incentive mechanism, which can standardize the behavior of miners and network security, and at the same time complete the currency issuance of Bitcoin.

Tips: The above contents are for reference only. According to the notices and announcements issued by the People's Bank of China and other departments, virtual currency is not issued by the monetary authorities, has no monetary attributes such as legal compensation and coercion, is not a real currency, has no legal status equivalent to currency, and cannot and should not be used as currency in the market. Citizens' investment and trading of virtual currency are not protected by law.

Reply time: 202 1-08-09. Please refer to the latest business changes announced by Ping An Bank in official website.

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