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Reviewing Bitcoin, Blockchain, and Mining

  • Bitcoin miners review and verify previous bitcoin transactions and create new blocks so that the data can be added to the blockchain. 
  • When we say the words “block” and “chain” in the context of blockchain, we are actually talking about digital information (the “block”) that is stored in a public database (the “chain”). The Bitcoin protocol is built on the blockchain. So, with the launch of Bitcoin in 2009 as the first cryptocurrency, blockchain technology had its first real-world application.

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