What is Bitcoin mining? Maintaining the ledger | Learn with Luno



one can think of Bitcoin as one big global ledger system that records transactions (or ‘moving money’) between one person to another. Whenever Bitcoin transactions are processed on the Bitcoin network – that means Bitcoin is moved from one person to another – someone has to make sure all the transactions are recorded properly and that the ledgers on all the systems are synchronized all over the world.

In the case of Bitcoin, this process is not done by people or companies, but by thousands of computers all over the world that are all connected to the internet. These computers are knowns as ‘miners’, but they should really simply be called ‘computers that process transactions’.

To learn more, visit https://www.luno.com/learn/en/article/what-is-bitcoin-mining

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