How does Bitcoin work?

Bitcoin was one of the first digital cryptocurrencies to be developed, and is based on blockchain technology. Unlike traditional currencies, Bitcoin is not controlled by a central authority such as a central bank or government.

When someone makes a Bitcoin transaction, it is verified and added to a group of transactions calleda “block“. Miners, network participants, solve complex mathematical problems to validate these transactions and add the block to the existing blockchain. This process is called“mining“, and it guarantees the system’s security and transparency.

If you’d like a real-time overview of the transaction and mining process, you can visit a website such as mempool.space/mempool-block/0. This will enable you to see how transactions are added to the blockchain over time.