Mining Contract

By CoinGecko | Updated on Mar 03, 2020
It is an agreement where a person could pay for the output of mining without owning the mining device. In other words, it is renting (or investing) in mining, while the mining decives are placed in a remote data centers.

Share this with a friend!

Related Terms

Flappening
Flappening is a term used to describe Litecoin growing bigger and becoming more valuable than Bitcoin Cash (BCH). It is spawned from the term Flippening (used when another crypto overtakes Bitcoin).
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
Transactions per second (TPS)
It is number of transactions done per second. For example, there are 10 transactions of Bitcoin done in 1-minute. The TPS would be 10 transactions/60 seconds = ~0.17 TPS.
Proof-of-Developer (PoD)
A concept of identifying the developers of a project as a means of vouching reputation for a project
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.
coingecko (thumbnail mini)
CoinGecko for iOS
coingecko (thumbnail mini)
CoinGecko for Android