Mining is the process using which new bitcoins are created by a competitive and decentralized process.
Individuals or groups of individuals called miners use freely available special software to solve mathematical problems every 10 minutes to verify and confirm each bitcoin transaction in a block, which is generated based on a system called "hashcash proof-of-work".
Verified blocks are entered into the "blockchain" for others in the network to accept. The first miner to solve the mathematical puzzle will receive new bitcoins as reward.
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by Jyotsna V
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