Lessons › Bitcoin basics
Bitcoin basics · Lesson 2 of 3
How the blockchain works
Transactions are grouped into blocks. Roughly every 10 minutes a new block is added to the chain.
Miners compete to add the next block by doing heavy computer work, called proof of work. The winner earns newly created bitcoin plus fees.
Each block is linked to the one before it, so changing an old transaction would mean redoing all the work after it. That is what makes the record so hard to fake.
Key points
- New block about every 10 minutes
- Miners secure the network with proof of work
- Linked blocks make old records very hard to change
Education only, not financial advice. Crypto is risky — only use money you can afford to lose, and check it’s legal where you live.