How does mining help secure Bitcoin?
Mining creates the equivalent of a competitive lottery that makes it
very difficult for anyone to consecutively add new blocks of
transactions into the block chain. This protects the neutrality of the
network by preventing any individual from gaining the power to block
certain transactions.
This also prevents any individual from replacing parts of the immutable
block chain to roll back their own spends, which could be used to
defraud other users. Mining makes it exponentially more difficult to
reverse a past transaction by requiring the rewriting of all blocks
following this transaction.
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