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Hot storage is any wallet that stores your keys and has an active connection to the internet; this is the most vulnerable method. Further information: Cryptocurrency bubble. The Bitcoin protocol has inspired the creation of numerous other digital currencies and blockchain-based technologies, making it a foundational technology in the field of cryptocurrencies. There's no telling what nonce will work, so the goal is to plow through them as quickly as possible with as many machines working on the hash as possible to get the reward. In case there is a dispute, then the longest chain is considered to be correct.
