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Teaching Bitcoin Part 2: Hashing & Mining

The Bitcoin Layer

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Understanding Bitcoin's Genesis and Mining Mechanics

This chapter explores the foundational aspects of Bitcoin, starting with the significance of the genesis block and its encoded message related to the 2008 financial crisis. It discusses the structure and coordination of Bitcoin nodes, the process of mining, and the role of the mempool in transaction validation. Additionally, the chapter highlights the evolution of mining rewards and the algorithmic adjustments that ensure consistent block generation while managing Bitcoin's supply.

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