bitcoins terms dictionary

Miner: Bitcoin Producer Yada Application.

Mining: A term used to describe bitcoin or subcoin production.

Mining Rig: Equipment used for mining, usually created by combining several units

Pool: It is a method used by the miners to come together and consolidate their trading power, because of the increase in the difficulty of the trade. Bitcoin in each block found is divided among pool partners according to processing power.

Hash: A function that allows you to express a long number or text with a value in fixed length.

Hash rate: The number of inferences made by a Bitcoin provider within a given time period.

Difficulty Level: The difficulty of the problem that needs to be solved in Bitcoin mining, how many miners are so high.

Nonce: The number that must be present to obtain the target hash value while generating bitcoin.

Block Reward: The Bitcoin, which the miner gains for the resolution of the block, falls to one side every 4 years.

Transaction Fee: The remaining part of the mine during the transaction verification

Confirmation: The process is approved by the miner and added to the block chain

Halving: Reduction of a block prize of 210,000 bloks per block

Stale Block: A block of solution found by another miner

Proof of work: Connection of calculation power to digging capacity. When a block is successfully extracted, the extraction must have taken some time and effort in computing. Thus, the inference is regarded as evidence of block work.

ASIC: A silicon chip designed specifically to perform a single task. ASICs are cheaper and faster than general purpose processors that can do the same thing. The SHA-256 for removing bitcoins has been designed to handle mixed problems.

ASIC Miner: Bitcoin is the general name for equipment that contains an ASIC chip, configured for mining, with low power consumption and high production power.

Attack 51%: A malicious miner group has more than 50% of the total processing power See: "Bad Scenarios Per Bitcoin"

Cloud Mining: Mining by purchasing trading power from a company. See: "What is Cloud Mining?"

Double Spending: Bitcoin or other sub-coins are two spending movements. The second time the user performs a transaction with Bitcoin, the result is the result.

Genesis Block: The First Bitcoin Block. Found by Satoshi Nakamoto.

Block: A record that confirms and contains many operations pending in the block chain. Approximately every 10 minutes (this time varies), an average new block containing operations is added to the block chain by mining.

Full Node: Node with a copy of the entire block chain. You do not need to submit another node query to validate.

Nonce: The number that must be present to obtain the target hash value while generating bitcoin.

Blockchain: The data structure in which the approved operations are held. You can think like an electronic accounting book. See: "Understanding Blockchain"