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Stellar trading Binance software bot The managing of transactions and the issuing of Bitcoins is carried out collectively by the network. Bitcoin is open-source, its design is public, nobody owns or controls Bitcoin and everyone can take part. It is maintained by a group of volunteer coders and run by an open network of dedicated computers spread around the world. Bitcoins are created as a reward for a process known as mining, which comprises adding transaction records (or blocks of code) to Bitcoin's public ledger (or chain) of past transactions and keeping them in the queue. Blocks are chopped off as each transaction is finalized, codes deciphered, and Bitcoins passed or exchanged. Miners use special software to solve the math problems that keep the Bitcoin process secure and are issued a certain number of Bitcoins in return. This provides a smart way to issue the currency and also creates an incentive for more people to mine, Easiest Stellar trading Binance app, easiest stellar trading app. In the case of BTC and BCH, this is done through the process of “mining”, where miners use their computing power to solve complex mathematical equations. Miners compete to be the first to solve the equations and win the right to add a new block to the blockchain. In return, they receive a block reward in the form of BTC or BCH for helping to validate new transactions and secure the network. With BTC’s blocksize at approximately 1 megabyte, there are only so many transactions that can be added to every new block. Periods of high transaction volume can create a long “line” (known as the mempool) of users waiting to get their transaction into a new block. 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