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2 months ago
Bitcoin Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be decentralized with miners operating in all countries and no individual having control over the network. This process is referred to as “mining” as an analogy to gold mining because it is also a temporary mechanism used to issue new bitcoins. Unlike gold mining, however, Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network. Mining will still be required after the 21 million bitcoins are dug. #digginggold2.0 #21milliontotalcoins
Steemit is a blockchain social network functions a lot like Reddit, but we are in the crypto blockchain world.
Steemit pays both the content creators when their work gets upvoted, as well as the people who curate the best content on the Seemit site by upvoting others folks.
This is possible because the Steemit platform is built on top of a new kind of digital currency. (Think Bitcoin for most folks, which is another kind of digital currency that has been around for a bit .) Steem,kALA,lITECOIN and Eos to name a few.
Every day, new units of the currency are created by the network and distributed to its users, Content creators can exchange these digital currency units for crypro currency even fiat money. For folks that like to write and share content. Steemit may be for you. My favorite post on Steemit is about the Nui Social Mintage mining crypto launch !
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