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Bitcoin (BTC) is the world’s first decentralised cryptocurrency. It was the first digital currency to fix the double spend problem.

What is Bitcoin mining?

While your local currency – whether it’s dollars, pounds or something else – are issued by central banks, new Bitcoins are issued to Bitcoin miners in return for certain tasks they carry out to keep it running. These tasks fall…

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What is SegWit?

Segregated Witness (SegWit) refers to a process to reduce the requirements for processing Bitcoin transactions by allowing information to be processed more efficiently to speed up the network. Specifically this refers to digital signatures used to verify transactions, which take…

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What is a mining pool?

The more active miners there are on a blockchain, the harder the mining process is, with fewer rewards given each time a new block is mined. Mining pools were created in order to deal more effectively with the increasing difficulty…

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Why is mining necessary?

The process of mining gold can be understood as it is a mineral found deep underground that can only be reached and salvaged using mining equipment. But can the same be said for something that only exists on computers?  While…

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What is a hash rate?

Bitcoin miners are much like the Ringo Starr of the crypto market. Quite literally hidden in the background or network in our example, miners aren’t usually at the forefront of any discussions or articles you may have read about Bitcoin….

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What will happen once all Bitcoin are mined?

Bitcoin is created through a process called mining. Using supercomputers, these miners confirm transactions on the Bitcoin blockchain and are rewarded for their efforts in the form of newly-created Bitcoin. These payments are called block rewards.  Through a process called…

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What happens to lost Bitcoin?

Bitcoin that is “lost” refers to wallet owners that have lost access to their private keys. Critics argue that this is a vulnerability of Bitcoin and cryptocurrencies. If users lose access to their wallets, there is no way to recover…

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What is a validator?

A term similar to Bitcoin miners, a blockchain validator is someone who is responsible for verifying transactions on a blockchain. Once these transactions have been verified or ‘validated’, they are then added along with the new block to the chain. 

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