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π™‹π™Šπ™Žπ™π™€π™ π—£π—’π—‘π—šπ—’ Telegram | DID YOU KNOW?

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How Does Bitcoin Mining Work?

Bitcoin mining is the process of adding new transactions to the Bitcoin blockchain. It’s a tough job. People who choose to mine Bitcoin use a process called proof of work, deploying computers in a race to solve mathematical puzzles that verify transactions.To entice miners to keep racing to solve the puzzles and support the overall system, the Bitcoin code rewards miners with new Bitcoins. β€œThis is how new coins are created” and new transactions are added to the blockchain, says Okoro.

A project of our size needs at least a few hundred million dollars per year to keep going,” Mr. Durov wrote in his public channel on Telegram late last year. β€œWhile doing that, we will remain independent and stay true to our values, redefining how a tech company should operate.

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