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What is bitcoin mining?

To mine and get bitcoin reward you need to solve a mathematical problem in which every 10 minutes thousands of nodes compete; being the most powerful computer network that exists today. The mathematical challenge always has the same process, what changes are the variables and it is only solved by randomly testing number until you find the right result. The first to get it takes bitcoins. That's why so-called miners are looking for improved efficiency on their devices. How does mining work? People constantly send Bitcoins back and forth but unless someone recorded all these transactions, no one could check who paid what at any given time. For this purpose there is the Blockchain. Miners are dedicated to confirming these transactions and writing them in the "major book" (blockchain). When you create a block, a string is generated by making the list growing. All this updating in real time. Miners make sure the blockchain remains intact and no one can manipulate it. When a transaction block is created, miners result in it following a process. It's about taking the information from the block and applying a mathematical formula to it, making it something different. This new "piece of information" is short and is called a "hash". The hash is saved with the block at the end. Because the hash of each block occurs using the "hash" of the immediately previous block, it becomes a digital version of a "lacre seal". Confirm that that block and anyone below is legitimate. If you tried to forge a transaction by changing a block that had already been stored in the string, the hash of that block would change.

We all create Bitcoin!

In the traditional monetary system, when a government needs more balance they simply print it. In the Bitcoin system, it is not created, it is discovered. This fact is called mining.

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