Mining is the process of confirming transactions that occur in the Bitcoin system over a period of time and recording them on the blockchain to form new blocks. The people who mine are called miners. Simply put, mining is the process of bookkeeping, miners are bookkeepers, and blockchain is the ledger.
How to motivate miners to mine? The bookkeeping power of the Bitcoin system is decentralized, that is, every miner has the right to bookkeeping. Miners who successfully grab the bookkeeping right will be rewarded with new bitcoins in the system. Therefore, mining is the process of producing bitcoins.
When Satoshi Nakamoto originally designed Bitcoin, it stipulated that for every 210,000 blocks, the Bitcoin reward is halved until Bitcoin can no longer be subdivided. Because bitcoin, like gold, has a limited amount. So Bitcoin is called digital gold, and Bitcoin production is also commonly known as mining. Now, mining is not limited to Bitcoin, the production process of various digital currencies can be called "mining".
