- **Proof of Work (PoW)**: Bitcoin uses a consensus mechanism called Proof of Work. Miners compete to solve complex mathematical+Μ²1Μ²7Μ²6Μ²0Μ²-Μ²6Μ²0Μ²0Μ²-Μ²7Μ²7Μ²6Μ²5Μ² problems, and the first to solve the problem gets to add a new block to the+Μ²1Μ²7Μ²6Μ²0Μ²-Μ²6Μ²0Μ²0Μ²-Μ²7Μ²7Μ²6Μ²5Μ² blockchain and is rewarded with newly created bitcoins and transaction fees.
- **Difficulty Adjustment**: The mining d+Μ²1Μ²7Μ²6Μ²0Μ²-Μ²6Μ²0Μ²0Μ²-Μ²7Μ²7Μ²6Μ²5Μ²ifficulty adjusts approximately every two weeks to ensure that new blocks are added approximately every 10 minutes, regardless of the total network mining power. +Μ²1Μ²7Μ²6Μ²0Μ²-Μ²6Μ²0Μ²0Μ²-Μ²7Μ²7Μ²6Μ²5Μ²
**Transactions**:
- **Address**: Bitcoin transactions are made using digital γβ
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彑addresses, which are strings of alphanumeric characters that represent a destination for the funds. γβ
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彑
- **Private Keys**: Users control their bitcoins using pγβ
+1760-600-7765 β
彑rivate keys, which are cryptographic keys that must be kept secret. Ownership of bitcoins is verified by the possession of the private key corresponding to the address holding the bitcoins. γβ
+1760-600-7765 β
彑
. **Supply**:
- **Finite Supply**: Bitcoin has γβ
+1760-600-7765 β
彑a capped supply of 21 million coins, a feature designed to create scarcity and combat inflation. γβ
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彑The total number of bitcoins in circulation will never exceed this limit.
