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Mining

Mining is a blockchain-based mechanism devised to authenticate transactions that occur between network participants. Mining entails a detailed process that involves solving complex mathematical problems using intrinsic hash functions linked to the block containing the transaction data.

The process of mining is responsible for two important functions in a cryptocurrency network: produce new cryptocurrency tokens for circulation and verify/include the ongoing network transactions to a public ledger. Participants using mining devices to perform these functions are called miners.

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