hashrate

After my previous post about the history of bitcoin and the Bitcoin blockchain, I wanted to get a better understanding of how bitcoin and the Bitcoin blockchain work and to share this with you. Please note that I purposely distinguish between bitcoin and Bitcoin. The reason I do this is that bitcoin refers to the cryptocurrency “bitcoin” and Bitcoin refers to the software that facilitates the transfer and safekeeping of bitcoin, the currency. In this post, I take bitcoin and the Bitcoin blockchain as an example but the main concept works the same for every blockchain of any cryptocurrency.