Cloud Mining
By CoinGecko | Updated on Mar 03, 2020
Mining on blockchains through rented processing power rented from companies that host the physical equipment. These companies typically operate out of countries that are naturally cold (reduce cooling costs) and have cheap power (for more competitive pricings). Another common term to describe this is mining contract.
Related Terms
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
Ring Signature
A type of digital signature performed in a group where it becomes impossible to determine which member's key in the group were used for the digital signature.
Shitcoin
A coin with no obvious potential value or usage.
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
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