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Cryptocurrencies, conceptual illustration
Cryptocurrencies, conceptual illustration. Mining a cryptocurrency consists of providing a service to the network of that currency in exchange for a monetary reward. In the simplest case, the service rendered consists of checking the validity of a set of transactions. Each time a set of transactions is validated, it constitutes a block. If that block meets certain criteria specific to the cryptocurrency blockchain, then it is added to the top of the chain and the 'miner' who made up that block is rewarded for its work., Photo by PATRICK LANDMANN/SCIENCE PHOTO LIBRARY
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