D-Central's Articles

Our articles talk about Bitcoin from top to bottom. We explore all general concepts and more specific concepts related to Bitcoin mining.

Bitcoin blockchain security: nodes or miners?

Learning the lingo and how the blockchain provides security can help you understand why it provides better security than most computer networks. First, let’s look at the basic structure of a blockchain, then we’ll define nodes, mining, and miners. Before blockchains, you would store information on servers owned or leased

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Governance challenge: Decentralized consensus

Bitcoin Independence Day is one of the most critical days in decentralized consensus and may be one reason people use Bitcoin compared to many other cryptocurrencies. The concept of decentralized consensus essentially makes Bitcoin the ‘People’s Money.’ Here is a brief account of this concept and what it means to

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Bitcoin, Pokemon Cards and the Lindy Effect

Bitcoin is a digital currency. This means that it is not really something you carry around in your wallet but instead is something you have in an online account. Bitcoin is very different in that it is a decentralized currency. There is no central bank or central government in charge.

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Is Bitcoin Backed by Something?

One of the debates surrounding Bitcoin today is whether it is backed by something. Some people are skeptical about purchasing Bitcoin, basing their claims on a lack of backing. Since there is nothing physical about Bitcoin, the assumption is that the cryptocurrency is not backed by anything, and therefore a

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Is the PoW System Wasteful?

When people think about Bitcoin, they often think about the proof-of-work, which is often shortened to PoW. Bitcoin PoW has been called many things, and one of the things that it is commonly called is wasteful. For those who are saying that Bitcoin PoW is wasteful and expensive, these terms

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Proof-of-Work: Why Is It Important?

Proof-of-Work, or PoW, is a very crucial protocol that Bitcoin networks use to confirm all transactions and add new blocks to their chains. With a Proof-of-Work protocol in place, Bitcoin miners strive to complete as many transactions as possible to get rewarded. We are going to look at what exactly

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Is Proof of Work inefficient?

You must have come across a debate on energy consumption concerning Bitcoin mining if you are well-versed in the blockchain ecosystem. The central idea is that Bitcoin mining is a competitive process that consumes energy. The success of Bitcoin is based upon Proof of Work that was pioneered by the

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How Are New Bitcoins Created and Generated?

Bitcoin is commonly compared to gold because they boast many similarities in the way they are obtained, and both carry a high value. Like gold, new Bitcoins are generated through a process called “mining.” Bitcoins carry a two-fold purpose: to create new Bitcoins and facilitate the processing of transactions within

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Can Bitcoin Miners force Invalid Blocks?

When it comes to Bitcoin, there is a lot that people still don’t know how it works. On the surface, Bitcoin can look like a chain of time-stamped blocks; however, it is much more than that. Everyone needs to understand how Bitcoin is a network because it will make the

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