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Crypto Mining: Definition and Function Explained
The basis for this is the so-called “block chain“. This is because in Crypto Mining or Bitcoin Mining, each individual transaction is grouped into “blocks”. These are then lined up in a linear sequence and linked together via a decentralized peer-to-peer network. All blocks have so-called “hash values“, which are a kind of check number for the transactions made. The check number in turn contains the individual hash values of the current transaction as well as the hash values of the respective previous transaction. For their generation, a conventional computer can be used, which performs a cryptographic function, also called “hash function” (SHA256). Thanks to this procedure, manipulation of the transactions is impossible, since a subsequent change within the chain would not only stand out, but is not even mathematically possible. If only one value were to be manipulated, the subsequent value would also deviate from the actual sequence.
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