Explain it to me like i five bitcoin mining
For starters, how do you get all the users to agree on a single transaction history? Do you think it makes sense to have a fund that tracks and invests in the 20 biggest Crypto currencies. Mark Lyford Bitcoin May 10, at 8: Miners are led as if by the invisible hand of Satoshi himself to come to a consensus.
In this case the math problems that need to be solved are different for each chain. Once a miner creates a valid block, he broadcasts it to the network. Bitcoin is surprisingly very accessible, and these are ELI5 posts after all.