Mining Contract
By CoinGecko | Updated on Mar 03, 2020
It is an agreement where a person could pay for the output of mining without owning the mining device. In other words, it is renting (or investing) in mining, while the mining decives are placed in a remote data centers.
Related Terms
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
Nonce
Abbreviation for ‘number only used once’ It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
YTD
Acronym for Year-to-date
Mt. Gox
Mtgox or Mt. Gox was one of the first websites where users could take part in fiat-to-bitcoin exchange (and vice versa).
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