Centralized
By CoinGecko | Updated on Mar 03, 2020
An organization structure wherein a small handful of actors have control over the entire network. In the context of Bitcoin, it is usually used to describe the centralization of mining power that has been concentrated in the hands of major mining equipment producers.
Related Terms
Sim Swapping
It is a tactic where hacker overtake the mobile phone to exploit the two-factor authentication and two-step verification.
Scrypt
one of the hashing algoritm used in proof-of-work protocol, scrypt requires more memory in order to performing mining functions
Bitcoin Evangelist
Individuals who are passionate about Bitcoin, and are dedicated in spreading knowlege about Bitcoin
Pay-Per-Last N Shares (PPLNS)
PPLNS system only pays miners after the pool has discovered the block. This means you'll only be compensated once the block has been discovered.
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