Bitcoin Blockchain, Miners, and Nodes (Explained Simply)

Published on May 6, 2021

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In this video, I explain what the Bitcoin blockchain is, as well as what Bitcoin miners and Bitcoin full nodes do.

The Bitcoin blockchain is simply a series of blocks, strung together. A new block is created approximately every 10 minutes, and each block contains thousands of Bitcoin transactions.

Bitcoin miners are specialized computers that compete with each other to solve a math puzzle. Whichever computer solves the puzzle first gets to create the new block and gets paid 6.25 new Bitcoins plus a transaction fee.

Bitcoin full nodes are computers that are running the Bitcoin software. A full node will contain a full copy of the Bitcoin blockchain. Full nodes talk to each other, verify transactions, and make sure that nothing fishy is happening on the Bitcoin network. Anyone with a good internet connection and a computer can run a full node out of their house.

Not investment advice! Consult a financial adviser.

The Bitcoin blockchain:
https://www.blockchain.com/btc/blocks?page=1

A nice visualization of new blocks being added to the Bitcoin blockchain:
https://txstreet.com/v/btc

Map of Bitcoin nodes:
https://bitnodes.io/

How to run a Bitcoin full node:
https://bitcoin.org/en/full-node#what-is-a-full-node

Bitcoin core software:
https://bitcoin.org/en/download

Matthew Kratter is the author of the Amazon best-seller “A Beginner’s Guide to the Stock Market”:

If you like my teaching style and would like to learn more about investing and trading stocks, options, and futures, be sure to check out my online courses here:
https://www.trader.university/join

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#Bitcoin
#BitcoinMining
#BitcoinBlockchain

Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisers, registered investment advisers, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.

Do All Blockchains Require Mining

Do All Blockchains Require Mining, Bitcoin Blockchain, Miners, and Nodes (Explained Simply).

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