The bitcoin mining difficulty algorithm is an essential component of the blockchain network and ensures new blocks are discovered at a steady rate without the need for intermediary oversight.

Blockchain technology relies on mining algorithms, such as CryptoNight, to regulate cryptocurrency projects. Find out here what CryptoNight is and how it works.

Bitcoin mining work also includes verifying Bitcoin transactions, which are used as data for the hashing function. Bitcoin uses the SHA-256 algorithm, which is the most difficult to crack.

Breaking down everything you need to know about Bitcoin mining, from blockchain and block rewards to proof of work and mining pools.