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
Application Programming Interface (API)
It is a software that acts like an intermediary or a bridge that lets two applications talk to each other. It is the one that lets applications, data and devices interact.
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Immutable
A property characterized by inability to be change and stays unchanged over time.
Faucet
A faucet usually represents a site or app where a user can navigate to for small rewards repeated over time.
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