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Cryptocurrencies face security challenges, and a robust network is crucial to prevent attacks. Secure communication, cryptographic techniques, and constant network monitoring are essential components of maintaining the integrity of the cryptocurrency network.
Most cryptocurrencies, including Bitcoin and Ethereum, rely on blockchain technology. Blockchain is a distributed ledger that records all transactions across a network of computers. This decentralized nature ensures security and transparency in transactions.
In Proof of Work-based cryptocurrencies, mining involves solving complex mathematical problems to validate transactions and create new blocks. Miners compete to find a solution, and the first one to solve it gets the right to add a new block to the blockchain. This process requires significant computational power.
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