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A bitcoin wallet is a software program that runs on a computer or a dedicated device that provides the functionality required to secure, send and receive bitcoin. Crypto legal and tax issues. Bitcoin is a form of digital currency that aims to eliminate the need for central authorities such as banks or governments. While Proof-of-Work was the first and is generally the most common type of consensus mechanism for cryptocurrencies that run on blockchains, there are others � most notably proof-of-stake PoS , which tends to consume less overall computing power and therefore less energy.
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