I have read many articles and watched videos but I still can't fully understand Bitcoin, mining and blockchains. I understand a block in a blockchain contains data and its resulting hash. I also understand a miner attempts to generate a new hash by hashing the previous hash in the chain with a nonce. A miner will keep trying until they create a hash with required difficulty level.
- I think I understand what happens during mining by I don't understand why we mine? i.e. Yeah I found a block so what? (of course miners are rewarded but why?)
- How would people use this found block in a real life scenario?
- Is the data in a block a real life scenario data.
A real life example will be appreciated.
If people are going to down vote please let me know why so I understand?