The Three Layers
1. Nodes
Full nodes are computers running
Bitcoin Core software.
They verify and store every Bitcoin transaction ever made
— currently hundreds of gigabytes of blockchain data.
Anyone can run a node.
There are over
15,000+ globally.
Nodes enforce the rules.
Invalid transactions or blocks are rejected automatically,
regardless of who created them.
2. Miners
Miners are specialized computers (ASICs)
competing to add the next block
to the blockchain.
They secure Bitcoin using
Proof of Work
— solving computational puzzles.
The winning miner earns:
- Newly issued Bitcoin (currently 3.125 BTC)
- Transaction fees
Canada is a major mining jurisdiction
due to abundant low-cost electricity.
3. Wallets
Wallets do not store Bitcoin directly.
They store your
private keys
— the cryptographic proof
that you own Bitcoin.
Wallet software connects to the Bitcoin network
to:
- Check balances
- Broadcast transactions
- Receive Bitcoin
Why the Network Is Secure
No single point of failure.
Thousands of nodes around the world
maintain identical copies
of the blockchain.
Attacks are extremely expensive.
Rewriting Bitcoin’s blockchain would require controlling
more than 50% of the global mining hashrate —
costing billions in hardware and electricity.
15+ years of uninterrupted operation.
Bitcoin has never been hacked
at the protocol level.
It is the most battle-tested
digital monetary network in existence.
For Canadian Investors
Understanding the Bitcoin network
helps explain why Bitcoin is trusted —
not because of any company or government promise,
but because of:
- Mathematics
- Distributed consensus
- Economic incentives
Bitcoin works because
no single person or institution controls it.
Buy Bitcoin at 1Bitcoin.ca →
FINTRAC Registered | Non-Custodial | Bitcoin-Only |
20,000+ Canadians | Since 2020
See also:
Bitcoin Blockchain Explained Canada
|
Bitcoin Proof of Work Canada
|
Bitcoin Mining Canada
