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:

A nice visualization of new blocks being added to the Bitcoin blockchain:

Map of Bitcoin nodes:

How to run a Bitcoin full node:

Bitcoin core software:

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

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Do All Blockchains Require Mining

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

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