What's Coming Next in Blockchain Gaming? Axie Infinity, Dapper Labs & Matic Network will be sharing their thoughts at our upcoming CoinGecko Meetup. Join us!
Steemit
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.
Share this with a friend!
Related Terms
Cryptocurrency Act of 2020
The Cryptocurrency Act of 2020 is a bill which aims to clarify which federal agencies would regulate which type of crypto assets.
Masternodes
Computers that are responsible for processing blockchain transactions and receive a reward when a block is mined.
Ponzi Scheme
A Ponzi scheme is also referred to as pyramid scheme, and typically takes the form of an investment scheme which pays existing investors with funds collected from new investors.
Stale Block
Double mined blocks that are not included in the blockchain.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.
