Mt. Gox
By CoinGecko | Updated on Mar 03, 2020
Mtgox or Mt. Gox was one of the first websites where users could take part in fiat-to-bitcoin exchange (and vice versa). In 2014, Mt. Gox was shut down after about 850,000 bitcoin was declared lost or stolen. Mt. Gox was created in 2006 by Jed McCaleb who named it after Magic: The Gathering Online Exchange where users could use the cards like stocks. Jed later sold Mt. Gox to Mark Karpelès in 2011.
Related Terms
Gas
A unit of measurement of the computational effort in conducting transactions or smart contracts on Ethereum blockchain.
Hashrate
Total processing power of a blockchain or what is the same, are the amount of hash values that can be made in a period of time.
Consensus
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
Second-Layer Solutions
Secondary network or framework built atop an existing blockchain to address transaction speed and scalability issues.
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