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The process of mining cryptocurrency also involves the verification of cryptocurrency transactions on a blockchain network and the addition of those transactions to a distributed ledger. A major benefit of crypto mining is that it prevents the double spending of digital currency on a distributed network.
As soon as one member spends cryptocurrency, a debit is made to one account and a credit is made to another, the digital ledger must be updated. As a result of its use of digital platforms, however, a digital currency has the disadvantage of being easily manipulated. The distributed ledger of Bitcoin allows only verified miners to update transactions. Thus, miners are also responsible for securing the network against double spending.
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