Senator Mike Rounds

@SenatorRounds ↗

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Last Checked Jan. 19, 2022

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Thu May 27 19:51:04 +0000 2021

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Senator Mike Rounds @SenatorRounds

These protocols revolve around cryptography (for computers, this is the use of math to code information) hence “crypto”currencies. However, someone needs to actually verify each new block in the chain to keep the system running smoothly. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

This blockchain of transactions forms a distributed ledger that is difficult to modify and easy to verify (in theory); a ledger that is maintained collectively on a network with specific protocols to verify each new block in the chain, meaning that bitcoin exchanges are secure. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

Since #bitcoins are decentralized, there isn’t a government or bank to maintain the system, which means there needs to be a different way. People who verify transactions are bitcoin miners, and the process of verification is fundamental to how they make (or mine) new bitcoins. — PolitiTweet.org

Posted May 27, 2021