Part 6/10:
However, enabling anyone to update this ledger in a fair way introduces new challenges. If one person controls the process, they might cheat. To prevent this, Bitcoin uses proof of work, a complex algorithm akin to guessing a password repeatedly until one computer wins, thereby validating transactions and adding new blocks to the chain.
This process involves brute-force computations—tons of trial and error—costly in electricity and resources, but highly resistant to gaming. It includes a difficulty adjustment that recalibrates every two weeks, ensuring that, regardless of how many miners participate, new bitcoins are generated roughly every ten minutes. This keeps the system stable and predictable.