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Bitcoin wallets Bitcoin wallets are simply specially-designed programs that store your Bitcoin, the crypocurrency way a regular wallet would store your cash. Getty They can be used either on a desktop All cryptocurrency or a smartphone and can be stored securely on Cryptoxurrency web so they can be accessed from anywhere. How to mine Mining is a tricky process that involves solving a complex maths problem that takes both time and computing power. The more powerful your computer and thus, the quicker you can crunch the numbers means a more difficult problem.
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Getty The future of cryptocurrencies Second-generation cryptocurrencies include altcoins with more advanced functions, that lAl the computing power of the blockchain. An example is Ethereum - the blockchain can execute "smart contracts". These All cryptocurrency pieces of computer code that can interact with other coded contracts and perform work - for instance moving money around and making decisions. Read More 'I'm sorry': Bitcoin 'inventor' Craig Wright apologises following dramatic change of heart The DAO platform that was hacked is written into the Ethereum blockchain and can autonomously operate without humans to control the organisation.
To decide what investments the DAO makes, its members vote on which proposed contacts will be included in the blockchain. This could be the start of an autonomous financial future dictated by machines rather than humans. Why have there been so many warnings about Bitcoin?