CoinSummit Day Two: Mining Superpowers and the 51% Challenge

A significantly thinned out crowd reassembled for the second day of CoinSummit in London today.

Those who didn’t attend the Swam-sponsored afterparty the previous night – or possessed exceptional powers of post-party rejuvenation – dutifully filed into the glass-walled East Wintergarden. Several panelists informed CoinDesk, and in some cases posted on Twitter, that many libations were consumed the previous night.

How Bitcoin Mining Works

In traditional fiat money systems, governments simply print more money when they need to. But in bitcoin, money isn’t printed at all – it is discovered. Computers around the world ‘mine’ for coins by competing with each other