CryptoUranus is a moderate review of crypto-Industry growth sectors providing user friendly translation for educational purposes only.
Thursday, May 6, 2021
Genesis Block: Defined in CryptoCurrency
Genesis Block: Defined in CryptoCurrency
A blockchain is a digital book of records where each new page made in that book is what is known as a “block”. Those blocks are connected in one group known as the blockchain. The first block in a blockchain is known as the genesis block.
Graphical Processing Unit [GPU]: Defined in CryptoCurrency
Graphical Processing Unit [GPU]: Defined in CryptoCurrency
A Graphical Processing Unit or GPU, is defined as a computer chip that creates 3D images on computers. GPUs are often called graphics cards.
Blockchains require people receive, record, verify, and transmit information. That process is known as “mining”. Because mining requires computer power, people do this work in return for money. GPUs were one of the first tools used to mine.
Green or Red: Defined in CryptoCurrency
Green or Red: Defined in CryptoCurrency
Green or red is defined as, the color of pricing charts used to show the change in value of an asset like cryptocurrencies or stocks.
A green color on charts means the price is increasing in value. While a read color on charts means the price is decreasing.
When you are “seeing green” that means overall, the charts are displaying a green color and the price has been increasing. Compared that with “seeing red” where the charts are mostly displaying a red color and the price has been decreasing.
Gwei: Defined in CryptoCurrency
Gwei: Defined in CryptoCurrency
Gwei is a very small amount of ethereum coin used to calculate transaction fees for sending ethereum to another. One ethereum coin is worth 1 billion (1,000,000,000) gwei.
Hacking: Defined in CryptoCurrency
Hacking: Defined in CryptoCurrency
Hacking is the process of using a computer to manipulate another computer or computer system in an unauthorized and unapproved way.
Halving: Defined in CryptoCurrency
Halving: Defined in CryptoCurrency
Halving comes from an Old English word meaning “half”. In cryptocurrencies, mining is a computer process of recording and verifying information on the digital record known as the blockchain.
In bitcoin and other currencies, mining also requires computers compete with each other to solve a complicated math problem.
Once solved, a new block is discovered that can be added to the chain of blocks and a reward of brand new bitcoin is given to the computer that solved the math problem first. Halving is the reduction of the bitcoin mining reward issued by half.
Subscribe to:
Posts (Atom)