The whole bit coin system based on blockchain. The Bitcoin BlockChain is a list of all transactions in Bitcoin Network
Every Nod Working on Bitcoin Network keeps a copy of the Transactions stored in blocks. By creating new transactions, the system creates a new block.
For the safety and security of the Blockchain, Nod need to do Calculations . This is done by Bitcoin Miner. With new transactions, the Miners check to see if the sender has sufficient inventory and then record transactions in the block. When the block capacity is completed, the bitcoin network creates a new block.
The record of all transactions made with new received transactions is initially encrypted in this new block Then the value of each miner’s work is updated and distributed among the Blockchain Miners do not do this for free. The registered transactions Block in Blockchain are extremely encrypted with difficult hash algorithms.
The first miner to be able to successfully decode Bitcoin is rewarded