Who is responsible for managing bitcoin transactions?

3 answers

• Dec 16, 2021 · 3 years ago
  Bitcoin transactions are managed by a decentralized network of computers called miners. These miners use their computational power to validate and record transactions on the blockchain. They play a crucial role in maintaining the integrity and security of the Bitcoin network. Miners compete to solve complex mathematical problems, and the first one to solve it gets to add a new block of transactions to the blockchain. In return for their efforts, miners are rewarded with newly minted bitcoins.
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• Dec 16, 2021 · 3 years ago
  When it comes to managing bitcoin transactions, it's all about the miners. These individuals or groups of individuals dedicate their computing power to verify and add transactions to the blockchain. They act as the gatekeepers of the Bitcoin network, ensuring that every transaction is legitimate and preventing double-spending. Without miners, the Bitcoin network would not be able to function properly.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we believe that managing bitcoin transactions is a collective responsibility. While miners are the ones who validate and record transactions, every participant in the Bitcoin network has a role to play. Users who send and receive bitcoins contribute to the overall transaction volume, and developers work on improving the Bitcoin protocol. It's a collaborative effort that keeps the Bitcoin network running smoothly.
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