A cryptocurrency, crypto-currency, or crypto is a collection of binary data which is designed to work as a medium of exchange. Individual coin ownership records are stored in a ledger, which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.
While luck is a factor in mining, the Computing Power of a miner plays the most important role. More processing power means that a miner can guess at a faster rate, which increases their chances of solving the puzzle.
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