Oracles
By Cryptomcmillan1 | Updated on May 24, 2020
In the context of crypto, oracles refers to services which verify real-world and provide data to blockchains/smart contracts. Oracles are needed for decentralized programmes to function trustlessly as using data from a centralized source would cause a programme to have a weak spot that can be easily manipulated.
Related Terms
Cloud Mining
Mining on blockchains through rented processing power rented from companies that host the physical equipment.
Proof of Work (PoW)
A consensus algorithm in which a block is validated via mathematical hashing
Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
Mining Rig
A dedicated hardware to mine
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