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What is the purpose of mining on a bitcoin blockchain

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Reference no: EM132731538

Problem 1. Alice wants to send an encoded message to Bob. She uses a passphrase (key). How does Alice share her key with Bob?

a. Asymmetric encryption
b. Proof of work
c. Hashing

Problem 2. What is the purpose of mining on a bitcoin blockchain?

a. It validates and adds blocks of transactions to the ledger. Miners get fees and a reward for this work.
b. It's a guaranteed way to make money.
c. Public key cryptography ensures the hashrate is cheapest.

 

Reference no: EM132731538

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