Mining Pool
By CoinGecko | Updated on Mar 03, 2020
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks. There are some that are public and there are some that are private.
Related Terms
Genesis Block
It is the first block of data that is processed and validated to form a new blockchain, typically called as 'block 0' or 'block 1'.
Scrypt
one of the hashing algoritm used in proof-of-work protocol, scrypt requires more memory in order to performing mining functions
Explain Like I'm Five (ELI5)
To explain in such simple terms that even a five-year-old would be able to understand it.
Order Book
An electronic list of all buy and sell orders in an exchange
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