On the Bitcoin network, Mining is the method that, both creates new bitcoins and updates the decentralised ledger with transactions.
On the Bitcoin network, Mining is the method that, both creates new bitcoins and updates the decentralised ledger with transactions.
You may have heard the phrase “keep your coins in a cold wallet” but what exactly is a cold wallet and why would you use it? The answer is quite simple. A cold wallet is a wallet that isn’t connected to the internet. The coins are kept in “cold storage” for safety.
Bitcoin is the name of the first decentralised digital cryptocurrency. These words might not mean anything to you yet, but let’s take them apart to try and understand them a bit more.