Cryptocurrency Q&A
Is BTC still proof of work?
Is BTC still proof of work?
CryptoMaven
Tue Dec 03 2024
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5 answers
914
I heard that Bitcoin uses a certain mechanism called proof of work for its mining process. But I'm not sure if it's still the case. Can anyone confirm if BTC is still using proof of work?
5 answers
CryptoGladiator
Thu Dec 05 2024
An intriguing aspect of Bitcoin's mining process is the halving event. Every four years, the reward for successfully mining a block of Bitcoin is reduced by half.
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SamuraiWarrior
Thu Dec 05 2024
This mechanism is designed to control the supply of Bitcoin and maintain its scarcity.
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Silvia
Thu Dec 05 2024
As of now, miners are rewarded with 3.125 BTC for each block they mine. This decreasing reward highlights the finite nature of Bitcoin.
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Federica
Thu Dec 05 2024
Bitcoin stands as the foremost cryptocurrency globally, leveraging the Proof of Work consensus mechanism.
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EmmaWatson
Thu Dec 05 2024
This digital currency has garnered significant attention due to its innovative approach and performance.
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