This public ledger known as the blockchain network will have details of each transaction made by the users of Bitcoin. Whenever a Bitcoin transaction is performed a new block is created that stores the transaction’s data. Mining is a competitive process by which miners process Bitcoin transactions and keep the network secure. It makes Bitcoin transactions anonymous and secure. Bitcoin has a decentralized nature and the blockchain network is also a peer-to-peer network.

Source: Standard Digital March 10, 2021 19:52 UTC