Proof of Work (PoW)
By CoinGecko | Updated on Mar 03, 2020
An algorithm that rewards the first person that solves a computational problem (i.e. mining) to achieve distributed consensus. Miners compete to solve difficult cryptographic puzzles in order to add the next block on the blockchain. It prevents spam and cyber attacks such as DDoS as it requires work (i.e. processing time) from the service requester.
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.
ROI
Short for “Return on Investment”, the ratio between the net profit and cost of investing.
Market Order / Market Buy / Market Sell
A market order is a buy or sell order of stocks or cryptocurrency at the best price available in the current market as soon as possible.
Cryptocurrency
A form of digital currency that utilizes cryptographic protocols to record ownership and prevent counterfeiting
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.
