The Bitcoin Network refers to the decentralized network of computers, known as nodes, that work together to validate transactions and secure the Bitcoin blockchain. These nodes are spread across the globe and communicate with each other to ensure the proper functioning of the network.
When a transaction is initiated, it is broadcast to the Bitcoin Network, where it is verified by these nodes through a process known as mining. Miners use powerful computers to solve complex mathematical problems to validate transactions and add them to a new block on the blockchain.
The network operates using a consensus mechanism called Proof of Work, where miners compete to find the correct solution to the mathematical problem in order to validate the transaction. This process helps to ensure the security of the network and prevents fraudulent activities.
Overall, the Bitcoin Network is essential for the functioning and security of the Bitcoin currency, as it enables the decentralization and transparency of transactions while maintaining the integrity of the blockchain.
