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In this article we discuss the technical aspects of the blockchain technology, Bitcoin and the algorithms it uses and applications for the technology. Bitcoin is still at the top and was the first to introduce the Proof of Work algorithm, which we'll talk about in a moment. Bitcoin miners can use CPU and GPU which means the electricity cost can be quite high. In the PoS system, blocks are ‘forged’ or ‘minted’, not mined, in which the user validates transactions and generates new blocks.
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