How to mine Bitcoin using Python?
Bitcoin is the latest trend in the cryptocurrency world which aims t o disrupt the centralized banking system of the world by making it decentralized. Before we jump into the world of crypto-currency we need to understand what is Bitcoin and how to mine with python? If your system is old or python runs slower than other languages on your local machine, then you can read this listicle about “5 Tips and Tricks to speed up your Python Programs” and then continue on with this article.
A bitcoin is an online form of currency that was created in January of 2009 by a mysterious man who goes by the pseudonym “Satoshi Nakamoto”. The whitepaper can be found here. The identity of the person is a mystery to date and Bitcoin actually offers a lower transaction fee than a traditional payment system for even a large amount of money and all you need to send someone money is their wallet address.
There are no physical coins lying around with the name bitcoin on them but the whole thing is virtual which is maintained on a public ledger to which everyone has equal access. All the transactions are verified with a huge amount of computing power and they are not issued by any bank. They are truly decentralized and secure at the same time. Bitcoin is also commonly known as “BTC”.
