![]() MINING SOFTWARE – a software application that manages the mining hardware’ work.MINING RIG – A set of mining hardware device that is created to mine with high power and efficiency.The reward is split proportionally between the participants in the mining pool depending on the amount of power they contributed. MINING POOL – A group of miners who have combined their computing power to increase their chances of mining a block.MINING HARDWARE – The device used to mine coins.MINING DIFFICULTY – The complexity of a task, which the miners have to solve for a certain period of time in order to create a block.MINING CALCULATOR – A tool helping you to estimate your potential profit from cryptomining.Some popular mining algorithms are SHA-256, Ethash, Scrypt, Cryptonight and X11 MINING ALGORITHM – The cryptocurrency algorithm used to mine a particular coin.MINING – The process of verifying cryptocurrency transactions which are then added to the blockchain ledger.MINER – could refer either to the hardware or the person dealing with crypto mining.These types of coins are those that are given as a reward to the miner who manages to find a solution to a complex algorithm that validates a transaction and add a new block to the blockchain. MINEABLE COIN – The coins acquired from the process of mining.It is calculated by the following formula: Market Cap = Price X Circulating Supply MARKET CAPITALIZATION – an indicator showing the relative size of a cryptocurrency.This is actually the process of encrypting and then decrypting information. This way only the other side of the transaction can manage it. CRYPTOGRAPHY – A method of securely send and receive data in a certain form.For that they don’t require a central authority. CRYPTOCURRENCY – A cryptocurrency is basically a network which enables all computers in it to perform transactions between each other.It does most of the processing inside a computer. CPU – Central Processing Unit or simply said a processor.This is done according to the consensus protocol, which can be Proof of Work, Proof of Stake or another consensus. CONFIRMATION – every data movement in a blockchain network has to be approved and authorized.CONSENSUS METHOD – The method with which general agreement is achieved between the elements of the blockchain.It can involve hardware, software or a combination of them. CONFIGURATION – The setup of a system or the arrangement of its elements.COMPUTATIONAL/COMPUTING POWER – How fast a machine can do an operation.COMPATIBLE WALLET – A cryptocurrency wallet that supports a particular coin.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |