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
Over The Counter (OTC)
It refers to the process that cryptocurrencies are being traded outside exchange and it is done directly between two parties
Ponzi Scheme
A Ponzi scheme is also referred to as pyramid scheme, and typically takes the form of an investment scheme which pays existing investors with funds collected from new investors.
QR Code
Abbreviation "Quick Response Code", QR code is a machine readable optical label that stores up to 3Kb of data
Centralized
An organization structure wherein a small handful of actors have control over the entire network.
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