What is the role of miners in the blockchain network and how do they validate transactions?

3 answers

• Nov 27, 2021 · 3 years ago
  Miners play a crucial role in the blockchain network. They are responsible for validating and adding new transactions to the blockchain. When a transaction is initiated, it is broadcasted to the network. Miners then compete to solve a complex mathematical puzzle, known as proof-of-work. The first miner to solve the puzzle gets the opportunity to add the new block of transactions to the blockchain. This process is called mining. By solving the puzzle, miners provide computational power to secure the network and validate transactions. Once a block is added, it cannot be altered, ensuring the immutability and security of the blockchain.
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• Nov 27, 2021 · 3 years ago
  Alright, let me break it down for you. Miners are like the superheroes of the blockchain network. They swoop in to validate and add new transactions to the blockchain. When someone initiates a transaction, it's like sending out a signal to all the miners. They then race against each other to solve a complex puzzle. The first miner to solve it gets the chance to add the new block of transactions to the blockchain. This puzzle-solving process is called mining. It's not an easy task, as it requires a lot of computational power. But once a block is added, it becomes a permanent part of the blockchain, making it secure and tamper-proof.
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• Nov 27, 2021 · 3 years ago
  In the world of blockchain, miners are the unsung heroes. They have the important task of validating and verifying transactions. When someone initiates a transaction, it is sent to the network and picked up by miners. These miners compete with each other to solve a complex mathematical puzzle. The first miner to solve the puzzle gets the privilege to add the new block of transactions to the blockchain. This process is called mining. By participating in mining, miners contribute their computational power to secure the network and ensure the validity of transactions. It's a crucial role that helps maintain the integrity and trustworthiness of the blockchain network.
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