⁣Cryptocurrencies operate on decentralized networks, typically based on blockchain technology. This means they are not controlled by a central authority, such as a government or financial institution. This decentralization provides a level of security, transparency, and resistance to censorship.

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⁣What determines the success of mining?

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The power of cryptocurrencies can be understood from various perspectives, including their impact on the financial system, technology, and decentralization. Here are some key aspects of the power of cryptocurrencies:

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