Faucet
By CoinGecko | Updated on Apr 09, 2020
A faucet usually represents a site or app where a user can navigate to for small rewards repeated over time. Certain sites that monetize faucets involve requiring users to watch advertisements, or complete certain actions before earning their rewards.Faucets are commonly used during the early days of Bitcoin where users are able to request for Bitcoin for free, or in many different altcoins as a marketing move to get users interested in the coin.
Related Terms
Market Taker
Participant of the market who buys and sells from currently existing orders
Mining
It is the process of the miners verify and adding transaction recors into a block.
Decentralized Applications (dApps)
Applications that run on decentralized peer-to-peer networks such as Ethereum.
Mineable
A cryptocurrency is said to be "mineable" when it has the system thrugh which miners can be rewarded with newly-created cryptocurrencies for creating blocks.
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