Some theory related to
- Bitcoin is nothing but a ledger.
- A ledger is a set of transactions, which are stored in different blocks also called as Block Chain.
- Each block has its own block number, transactions ledger, previous hash(hash of previous block) and nonce.
- Mining is the process of guessing a nonce that generates hash with first "x" number of zeros.
- Bitcoin mining is Time consuming, and it takes a lot of computational power and hardware.
- But the code is not difficult algorithmic wise.
- And whoever guesses a nonce first will be benefited not the later persons.
- Currently the difficulty level of mining is around 20 zeros in the prefix of hash.