Why does Bitcoin Mining Exist? How does it work?

Adelene
Adelene
Aug 2 · 6 min read

What is a nonce and how is the SHA-256 algorithm connected to it?

bitcoin
Photo by Jeremy Zero on Unsplash

Let’s start off with some basic background knowledge.

What is Cryptocurrency

A digital currency that uses cryptographic protocols. A form of digital medium of exchange to facilitate transactions. Cryptocurrency is based on blockchain technology. It is…