Difficulty
By CoinGecko | Updated on Mar 03, 2020
In the context of Bitcoin's proof-of-work system, the difficulty is a relative measure on how difficult it is to correctly guess a new block though the mathematical equation performed. In Bitcoin, the difficulty is adjusted periodically based on the amount of hashing power (computing power) on the network.
Related Terms
Scrypt
one of the hashing algoritm used in proof-of-work protocol, scrypt requires more memory in order to performing mining functions
Stale Block
Double mined blocks that are not included in the blockchain.
Block Explorer
Application or websites which display information such as status of transactions or data contained in a block of a given public blockchain network.
BitLicense
Refers to the business license issued by the New York State Department of Financial Services (NYSDFS) to companies dealing with Cryptocurrencies (subject to certain exceptions) in New York.
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