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What is Bitcoin Mining and How Does it Work?

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  • What is Bitcoin Mining and How Does it Work?

    Bitcoin mining is the backbone of the Bitcoin network.

    Miners provide security and confirm Bitcoin transactions.

    Without Bitcoin miners, the network would be attacked and dysfunctional.

    Bitcoin mining is done by specialized computers.

    The role of miners is to secure the network and to process every Bitcoin transaction.

    Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin’s famous “blockchain”).

    For this service, miners are rewarded with newly-created Bitcoins and transaction fees.

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    Learn everything there is to know about Bitcoin mining. Learn how to mine, and how it works.