>>13832723Tl;dr for non-coders: Imagine running a page of text through a formula that spits out a binary string based on some random input. This page of text will be a list of public bitcoin transactions plus info from the previous page of transactions.
To be valid, the string that is spit out must contain some number of zeros for the first few bits (determined based on how many miners there are).
Bitcoin miners are taking the next list of proposed transactions and attempting to find a valid input before anyone else. When one finds a working example, they broadcast this and move to a different page of transactions. Every transaction, being based on previous transactions, is basically impossible to fake without faking every other transaction before it.
The number of leading zeros needed is such that a new bitcoin is mined every ten minutes or so, but this means that the more miners are mining bitcoin, the less energy efficient bitcoin is.
I am not actually a coder and am talking based on YT videos like
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