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What is Bitcoin?

Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is unique in that there are a finite number of them: 21 million.

How does Bitcoin work?

Bitcoin transactions are verified by Bitcoin miners which has an entire industry and Bitcoin cloud mining options. Bitcoin transactions are recorded in a public ledger called the blockchain. Bitcoin is created through a process called "mining."

Who creates Bitcoin?

Bitcoin is created through a process called "mining." Miners are rewarded with Bitcoin for verifying and committing transactions to the blockchain.

What are the benefits of Bitcoin?

Bitcoin has many benefits including low transaction fees, global acceptance, and liquidity.

How can I use Bitcoin?

You can use Bitcoin to purchase goods and services online, or you can hold onto them as an investment.

What are Bitcoin's risks?

Bitcoin's risks include volatility, hacking, and scams.

What is Ethereum?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.

How does Ethereum work?

Ethereum works by running a Turing-complete virtual machine on top of the blockchain. This machine can execute scripts using an international network of public nodes.

What are the benefits of Ethereum?

The benefits of Ethereum include its ability to run contracts, its decentralization, and its security.

What are Ethereum's risks?

The risks of Ethereum include its volatility and its reliance on the blockchain.

What is a blockchain?

A blockchain is a digital ledger of all cryptocurrency transactions. It is constantly growing as "completed" blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the block chain to differentiate legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

What is mining?

Mining is how new Bitcoin and Ethereum are created. Miners are rewarded with Bitcoin and Ethereum for verifying and committing transactions to the blockchain. Ethereum miners are rewarded based on their share of work done, rather than their share of the total number of blocks mined.

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