What is Bitcoin mining?
3 Answers
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Bitcoin Mining is the crucial processing of transactions on a Bitcoin network and securing them into the blockchain. Also each set of transactions that are processed is a block. In addition the block is secured by the miners. Mostly the miners do this by developing a hash that is created from the transactions in the block.
It is also illustrated that this cryptographic hash is then actually added to the block. The next block of transactions would look to the previous block’s hash to verify it is legitimate. After then your miner would attempt to develop a new block that contains present transactions and new hash before anyone else’s miner can do so.
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