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How Does Crypto Mining Work? Bitcoin Mining and More BTC is mined on a Proof of Work network — here’s how the process works in detail. How Does Crypto Mining Work? Bitcoin Mining and MoreLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYBitcoin14 Jan 2025|INTERMEDIATE|6 MIN READHow Does Crypto Mining Work? Bitcoin Mining and MoreBTC is mined on a Proof of Work network — here’s how the process works in detail. Key Takeaways: Bitcoins are a cryptocurrency created through a…
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Graphics Processing Unit (GPU) A succinct definition of Graphics Processing Unit (GPU) Graphics Processing Unit (GPU)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYGRAPHICS PROCESSING UNIT (GPU)Copy linkShare on TwitterShare on FacebookShare on LinkedinGraphics Processing Unit (GPU)A Graphics Processing Unit (GPU) is a specialised processor designed to perform complex calculations and graphics rendering, often used in gaming, scientific research, and machine learning (ML) appli…
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Derivatives A succinct definition of Derivatives DerivativesLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYDERIVATIVESCopy linkShare on TwitterShare on FacebookShare on LinkedinDerivativesCryptocurrency derivatives are tradeable financial contracts whose value is derived from the price of an underlying digital asset, such as Bitcoin, Ethereum, or other cryptocurrencies. These contracts allow traders to speculate on the future price movements of cryptocurrencies without actually…
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Stablecoin A succinct definition of Stablecoin StablecoinLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYSTABLECOINCopy linkShare on TwitterShare on FacebookShare on LinkedinStablecoinStablecoins are a form of cryptocurrency whose value is pegged to an underlying asset, such as fiat currencies, other cryptocurrencies, or commodities. This feature aims to make stablecoins relatively resilient to market fluctuations. Due to this, stablecoins are commonly used to facilitate commerc…
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Sound Wallet A succinct definition of Sound Wallet Sound WalletLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYSOUND WALLETCopy linkShare on TwitterShare on FacebookShare on LinkedinSound WalletA sound wallet in cryptocurrency is a novel way of storing private keys using sound or audio. The concept involves encoding a private key as a sound file to provide an additional layer of security, which can then be stored in various formats like a CD, vinyl record, MP3 file, or even an a…
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Hooks A succinct definition of Hooks HooksLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYHOOKSCopy linkShare on TwitterShare on FacebookShare on LinkedinHooksIn the context of blockchain, ‘hooks’ typically refer to pieces of code that allow developers to customise the behaviour of a blockchain protocol. These hooks are often used on smart contract platforms or in blockchain frameworks that support programmable functionality.Hooks enable developers to inject their custom log…
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Trading Fees A succinct definition of Trading Fees Trading FeesLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYTRADING FEESCopy linkShare on TwitterShare on FacebookShare on LinkedinTrading FeesTrading fees are costs that users pay when they engage in transactions on a blockchain network or trade cryptocurrencies on an exchange. When trading on a cryptocurrency exchange, users typically encounter two types of fees: maker fees and taker fees.Maker fees are charged to users who ad…
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Miner A succinct definition of Miner MinerLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYMINERCopy linkShare on TwitterShare on FacebookShare on LinkedinMinerCryptocurrency mining is the process of adding transaction records to the underlying blockchain. A miner is the computer, or ‘node’, that performs this process. Beyond creating new cryptocurrencies for profit, crypto miners also help maintain the security and integrity of a blockchain by verifying transactions and add…
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Composability A succinct definition of Composability ComposabilityLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYCOMPOSABILITYCopy linkShare on TwitterShare on FacebookShare on LinkedinComposabilityIn decentralised finance (DeFi), ‘composability’ refers to the ability of different protocols and applications to interact and integrate with each other. It enables the building of complex and innovative solutions by leveraging the functionalities of multiple protocols and allows…
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Hashpower A succinct definition of Hashpower HashpowerLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYHASHPOWERCopy linkShare on TwitterShare on FacebookShare on LinkedinHashpowerHashpower, also known as hashrate, refers to the total computational power used in blockchain networks to solve cryptographic puzzles necessary for mining, processing, and validating transactions. It is a key metric in Proof of Work (PoW) blockchains like Bitcoin, where it helps secure the network and m…
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