Bitcoin - It is a digital currency used to exchange goods and services. Unlike other currencies, Bitcoin is an electronic and decentralized currency that nobody controls. It does not have a central issuer like dollars or euros, but this cryptocurrency is produced by people and companies from around the world that devote a large amount of resources to "mining".
Mining. - The miners are chips or computers that use algorithms to verify the transactions that are carried out in the network and that will eventually be added to the Blockchain or chain of blocks. To get Bitcoins, the so-called miners use the computational power of machines that must have specialized software and hardware capable of making millions of mathematical calculations per second. Each time a miner or group of miners (pool) solves the mathematical problems necessary to verify the transactions and complete a new block, a certain number of Bitcoins are released, which will be distributed proportionally, depending on the calculation power that each one has contributed. .
Farm. - A bitcoin mining farm is a Bitcoin computer and data computing center where digital money is created and distributed among all those who contribute to the work.
Chain of blocks. - Once validated by any of the miners that make up the network, the transaction is combined with other transactions to create a new data block that will be sequentially added to the last block of the chain. The Blockchain or Bitcoin block chain contains a record accurate and verifiable of all the transactions that have been made in its history. Once entered, the information can never be erased.
Commissions/fees. - For many of the transactions made with Bitcoins, fees or commissions must be paid, which will subsequently revert to the miners. Commissions play an important role in the speed with which a miner verifies those transactions, so the higher that fee, the more interest a miner will have to add it to the block and the faster it will be confirmed.
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