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Mining

Mining refers to the process by which new units of a cryptocurrency are created (as rewards for miners) and fraudulent transactions are prevented by the creation of a chained block of transactions. Mining operations incur costs and generate revenue, both of which need to be accounted for.

Example:

In the context of crypto accounting, mining refers to the process by which new units of a cryptocurrency are created and fraudulent transactions are prevented. Mining operations incur costs and generate revenue, both of which need to be accounted for.

Category:

Blockchain and Technology
Crypto Accounting
Crypto Basics
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