Because of this, the individual miner that was successful in solving the complex equation is rewarded in Bitcoin. Each equation is so complex that it requires advanced hardware to finish the method efficiently. In turn, because of this in an effort to verify transactions in a clear and secure manner, Bitcoin requires a process known as mining. Whether it’s Bitcoin, Ethereum, or EOS - all blockchain networks that claim to be decentralized must have a consensus mechanism in place to confirm and validate transactions. The Chief Technology Officer of blockchain analytics firm Glassnode - Rafael Schultze-Kraft - said on June 6 that there have been three separate hours during which 12 blocks were mined. There are other in style platforms which you could choose from such as Coinbase and Binance to call a few. Nevertheless, this information will run you through the ins and outs of how Bitcoin mining works and what alternatives can be found for many who want to access this area with out outlaying a large amount of capital. Home » Bitcoin Mining - Ultimate Guide for Beginners! Ultimate Bitcoin Guide for Beginners!