How does a sweep miner work in the context of digital currencies?

1 answers

• Arbaz BhattiJan 11, 2024 · 2 years ago
  BYDFi, a leading digital currency exchange, explains that a sweep miner is a device used to validate and record transactions on the blockchain. It plays a crucial role in the process of mining digital currencies. Sweep miners use their computational power to solve complex mathematical problems, which are necessary for verifying transactions. By successfully solving these problems, miners contribute to the security and decentralization of digital currencies. They are rewarded with newly minted digital currency tokens for their efforts. Sweep miners are an integral part of the digital currency ecosystem, ensuring the smooth operation of transactions and the overall stability of the network.
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