2 Matching Annotations
  1. Nov 2023
    1. A subset of nodes, called miners, organize valid transactions into lists called blocks.

      Imagine a group of people using a digital currency like Bitcoin. In this group, some individuals have a special role called "miners." These miners are responsible for taking all the transactions (when people send or receive the digital money) that the group wants to do, and putting them together into groups called "blocks."

      Think of these transactions like a bunch of letters, and the miners are like mail sorters. They collect all the letters (transactions) and arrange them into envelopes (blocks). These envelopes are important because they help keep the transactions organized and secure.

      So, in simple terms, miners are like the organizers in a digital money system. They take the transactions and put them into blocks to make sure everything works smoothly and safely.

    2. automate transactions

      For example, think about paying your monthly bills. Instead of writing checks and mailing them, you can set up automatic payments through your bank's website. The bank's computer system will send the money to the right places at the right times without you needing to do it every month.