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A little bit about BlockChain...
coderrick edited this page Jul 22, 2017
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The purpose of mining is to create more bitcoins and ensure that all participants have a consistent view of bitcoin data (Blockchain, ledger book, etc)
It is the process of adding new transaction records to the BlockChaons public ledger of past transactions.
mining transactions into blocks avoids double-spending. So how does the blockchain prevent other errors? Problems like; people randomly mining blocks, deciding who gets to mine a block, determining which blocks are valid, the list gose on.
Moreover, Mining Algorithms ensure that the aforementioned issues are taken care of. Currently there are 2 major mining algortihms, PoS (Proof of Stake) and PoW (Proof of Work). PoW is the most prevelent of the 2. (We will be making the third =) ).