With its price fluctuating, sky-high transaction fees, growing traction among competitors and regulatory agencies taking action in several countries, Bitcoin is starved for good news. Today marked another blow against dominant cryptocurrency: China is working to rid itself of bitcoin mining companies.
Mining is the process by which sets of bitcoin transactions -- called blocks -- are verified and added to the blockchain ledger. That verification relies on having powerful computers solve difficult maths problems -- with a correctly solved block netting a payout in bitcoin.
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