human
Explain what is Bitcoin mining
assistant
Bitcoin mining is the process of verifying and adding transaction records to the public ledger (called the blockchain) of the cryptocurrency Bitcoin. It is a way of incentivizing people to secure the network and process payments by using their computing power in exchange for newly minted Bitcoins and transaction fees. This process is referred to as "proof-of-work" because miners must prove that they have done a certain amount of work to add a new block to the blockchain. In order to successfully mine a block, miners must solve complex cryptographic puzzles that require significant computational power. Once miners successfully solve the puzzles, they are rewarded with a block reward and transaction fees.