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What is the process for mining blockchains?

Mining is the process by which new bitcoins are entered into circulation. It`s also how the network confirms new transactions and is a critical part of the blockchain ledger`s maintenance and development.

Mining requires sophisticated hardware that solves extremely complex computational math problems. The first computer to find the solution receives the next block of bitcoins and the process begins again.

It`s painstaking, costly, and only sporadically rewarding.