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
Proof of Work (PoW)
A consensus algorithm in which a block is validated via mathematical hashing
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.
Market Taker
Participant of the market who buys and sells from currently existing orders
Bear Market
Contrary to bull market, it indicates the direction of the market going for downward trend.
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