How Bitcoin Mining Works and How to Look Up How Many Bitcoin Can Mining? | Tokenview
You may hear about bitcoin 'mining', but mining Bitcoin isn't physical, so why do we call it mining? And what is bitcoin mining.
What is Bitcoin Mining?
Bitcoin mining is similar to gold mining in that the bitcoins exist in the protocol's design and the gold exists underground. Bitcoin haven't been brought out into the light. The bitcoin protocol stipulates that 21 million bitcoins will exist at some point. What “miners” do is bring them out into the light, a few at a time.
They get to do this as a reward for creating blocks of validated transactions and including them in the blockchain.
Difficulty of Mining Bitcoin
The difficulty of the calculation (the required number of zeroes at the beginning of the hash string) is adjusted frequently, so that it takes on average about 10 minutes to process a block.
Why 10 minutes? That is the amount of time that the bitcoin developers think is necessary for a steady and diminishing flow of new coins until the maximum number of 21 million is reached.
How to Look Up How Many Bitcoin Can Mining?
We know there are 21 Million bitcoin together. How many bitcoin have been mined and How many bitcoin can be mined. Take a look at Tokenview Block Explorer.
- Just open Block Explorer or input tokenview.com.
- Click 'Mining' on the home page.
- You can get the results below. And you can also know the top rig and the caculator of Bitcoin.