‘How Bitcoin Works’, A Short Video Explaining the Economics Behind the Digital Cryptocurrency

“How Bitcoin Works” is a short video by New Scientist explaining the processes that drive the popular cryptocurrency, Bitcoin, which has seen a massive surge in use in spite of the fact that it isnt controlled by a single central authority.

Instead, there’s just a network of computers that anyone can join and a set of rules that those computers use to process and record transactions. This is called ‘mining,’ but you don’t have to be a miner to use BitCoin.

The video accompanies the feature “The Bitcoin Rush: Pioneers on the Financial Frontier,” which explores the people who drive the digital currency.