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
Mining
It is the process of the miners verify and adding transaction recors into a block.
Over The Counter (OTC)
It refers to the process that cryptocurrencies are being traded outside exchange and it is done directly between two parties
Bullish
A term used to indicate positive sentiment towards the market or an asset, where investors believe that there will be upward price movement.
Burned Tokens
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.