What is the algorithm for Bitcoin mining?

The mining process is computationally intensive and competitive. Miners around the world utilize powerful computing resources to solve the complex mathematical puzzles presented by the SHA2 algorithm. The first miner to find the correct number is rewarded with BTC.

BTCC is a prominent cryptocurrency exchange that offers a range of services tailored to the needs of digital currency enthusiasts. Among its offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices.

In addition to spot trading, BTCC also provides futures trading, enabling investors to speculate on the future price of cryptocurrencies without actually owning the underlying asset. Furthermore, BTCC offers a secure wallet service for storing digital currencies, ensuring that users' funds are protected against theft and unauthorized access.

Bitcoin relies on a sophisticated encryption method known as Secure Hash Algorithm 2 (SHA2), which boasts military-grade security. This robust algorithm ensures that the digital currency's transactions are secure and tamper-proof.

SHA2 plays a crucial role in the mining process of Bitcoin. Miners are tasked with finding a unique random number that serves as a proof of work. This number can only be discovered through repeated execution of the hashing algorithm.