Page 15 - 1st Edition Style of Dallas - Final print

Confirmation is everything. When the in the cryptocurrency network. They system to prevent any form of network
transaction is not confirmed, it has the record transactions, verify them and abuse. For instance, a person may

When a transaction is confirmed, it in the network. For every completed forged transactions. It will disrupt the
possibility of being hacked and forged. disperse the transactional information create thousands of peers and spread
is set in stone. It can’t be reversed, it transaction monitored and facilitated system immediately. In order for you
is impossible to be hacked, it is not by the miners, they are rewarded with to be a miner, you would need to solve
forgeable as it is part of a permanent a token of cryptocurrency, for instance a cryptologic puzzle which is a set of
record of the historical transaction: with Bitcoins. Since miners play a major very complex mathematical questions
The Blockchain. The blockchain can be role in the cryptocurrency system, let’s set by Satoshi Nakamato himself. If

likened to an online ledger, where all look at their role in more detail. you successfully solved the puzzle, as a
miner you can build a block and add it to
transactions are recorded and made What Are Miners Doing? the blockchain. The miner is also given
visible to the whole network.This principally permission to add a crypocurrency
comes to show that cryptocurrencies First and foremost, transaction to the system which
are not secured by people or trust, but anyone can be a miner. Miners are automatically grants him a specific
by complex mathematical equations. needed because of the nature of the number of bitcoins. This is the only
It is very secure and it’s highly unlikely decentralized network where they have way to create valid bitcoins. Bitcoins
that the address of a currency is no authority to delegate tasks and the can only be generated if a miner can
compromised. Only miners are able to cryptocurrency needs some kind of solve a cryptographic puzzle. The level
confirm a transaction. This is their role