An address is a random group of characters that is used as a public key when you need to send or receive cryptocurrency. An address can be compared to a bank account number in the traditional banking system.
An altcoin is an expression that designates all crypto-currencies other than Bitcoin. Altcoins are considered alternative currencies because of the importance of Bitcoin. Find all our altcoins on our homepage.
An ASIC or Application Specific Integrated Circuit is a machine dedicated to mining. Generally used to mine Bitcoin, it is much more powerful than a simple RIG and resolves the proof of work much faster.
Beam is a cryptocurrency whose project focuses on privacy, scalability and auditability in a single decentralized ecosystem. Coming online in 2019, the network uses the Mimblewimble protocol for secure, private transactions. To learn how to mine this crypto, please follow our tutorial on how to mine Beam.
- Bitcoin (BTC)
A block is a file containing information such as ongoing transactions. This block is subject to verification and will be attached to the previous block if it is considered valid. In the Bitcoin blockchain, a block is created every 10 minutes.
The blockchain is a technology that allows information and transactions to be stored and transmitted in a safe and transparent way and most importantly, in a decentralized way. It is a secure system open to all users that can contain transactions. Each user can check the validity of a transaction in the blockchain, which can be considered as a kind of electronic ledger that is anonymous, public and non-falsifiable.
- Block Explorer
A Block Explorer is an online tool that allows you to view the transactions, network hashrate, and other informations of a blockchain.
- Block Height
This is the total number of blocks on a blockchain. This data is written when you count the number of blocks before the last block of a blockchain.
- Block Reward
It is a reward that is given when a miner validates a block. Because of his contribution to keep the blockchain alive, the miner is rewarded with cryptocurrencies.
- Byzantine Fault Tolerance
Byzantine Fault Tolerance (BFT) is a consensus mechanism that is derived from the problem of Byzantine generals. This is a dilemma that represents the problems that Byzantine generals could have when they had to communicate and agree between themselves on the next strategic move during a siege. Byzantine Fault Tolerance (BFT) allows us to determine if we can trust the blockchain if it is infected by malicious machines.
- Core Clock
“Core Clock” refers to the speed at which the central processing unit (CPU) or graphics processing unit (GPU) of a mining graphics card operates, measured in megahertz (MHz) or gigahertz (GHz).
- Core Voltage
“Core Voltage” refers to the electrical voltage applied to the central processing unit (CPU) or graphics processing unit (GPU) of a mining device or graphics card. It can be adjusted to optimize the performance or energy efficiency of the mining process.
A cryptocurrency is an electronic, virtual and decentralized currency that is used in the blockchain. Unlike traditional currencies such as the Dollar or Euro, cryptocurrencies are created by solving mathematical problems based on cryptography.
- DAG (Directed Acrylic Graphs)
“DAG (Directed Acyclic Graphs)” refers to a directed acyclic graph, a data structure used in some cryptocurrencies to record transactions without the need for traditional blocks or blockchains.
A DAO or Decentralized Autonomous Organizations is an organization that is run through rules encoded in smart contracts.
A dApp or Decentralized Applications is a kind of application that runs on a decentralized network.
The objective of decentralization is that no one entity should have the control. In the context of a blockchain, the objective is that no single company or individual can control the entire network. The more actors are in the blockchain, the more decentralized the network is.
DeFi (Decentralized Finance) refers to the use of blockchain technology to recreate traditional financial services in a decentralized manner, thus eliminating the need for intermediaries.
- Delegated Proof-of-Stake
Delegated Proof of Stake (DPoS) is a variant of the consensus Proof of Stake (PoS). A certain panel of users will be responsible for validating the blocks for the entire network, contrary to the Proof of Stake (PoS) which makes it possible for any member of the blockchain possessing cryptocurrency to validate a block.
Difficulty, as its name suggests, is a measure that defines the difficulty of finding a new block.
- Double Spend
A double spend is an malicious action by a person who tries to send a transaction to two receivers at the same time. The goal is to spend cryptocurrency that you don’t have.
- Dual mining
“Dual mining” refers to the practice of simultaneously mining two different cryptocurrencies using a single hardware setup.
ERC or Ethereum Request for Comments is a protocol of the Ethereum network. The tokens resulting from this protocol have the objective to improve Ethereum.
- Ethereum (ETH)
Ethereum is an open source blockchain that allows developers to create dApps but also smarts contracts since July 30, 2015. Today, Ethereum is one of the most interesting projects to follow and its currency, Ether or ETH, is one of the most capitalized.
- Ethereum Classic (ETC)
- Ethereum Ice Age
The “Ethereum Ice Age” refers to a mechanism embedded in the Ethereum blockchain that gradually makes the mining of new blocks more difficult, thereby incentivizing developers to update the protocol.
- Ethereum Proof-of-work (ETHW)
This is Ethereum’s original consensus mechanism launched on July 30, 2015, based on Proof of Work, before its switch to Proof of Stake. To mine this coin, follow our dedicated tutorial to learn how to mine Ethereum Proof of Work.
An exchange is a platform where cryptos are traded with each other or against cash. This makes it possible to invest or to speculate on the price of cryptocurrencies.
FIAT is short for fiat currency. These are the classic currencies such as the Euro and Dollar, etc.
Formerly known as Zcoin launched in 2016, Firo is a privacy-focused cryptocurrency that uses the Lelantus protocol for anonymous transactions. If you’re interested in mining this cryptocurrency, head over to our tutorial on how to mine Firo.
A fork is a major or minor change to a blockchain. A blockchain is always under development. When an addition or modification is made to the network code, the new version replaces the old one. There are Hard Forks, which are major changes, and Soft Forks, which are minor changes.
- FPPS (Full-Pay-Per-Share)
FPPS (Full Pay Per Share) is a reward model used in cryptocurrency mining, where miners receive a fixed payment for each share of work they contribute, regardless of the success or failure of solving the mining problem.
The Gas is a unit that measures the computational effort when you make a transaction, when you use a smart contract or when you launch a dApp on the Ethereum network. So, Gas is the price you will pay to be able to use its services.
The Gwei is the currency that defines the cost of Gas when you make a transaction on the Ethereum network.
Halving is the division by two of the reward for mining a cryptocurrency. This division has been set since the launch of the cryptocurrency since it is written in the code of the coin. The halving is activated when a certain number of blocks are mined.
- Hard Fork
A Hard Fork is a major change in the life of a blockchain. It is during a Hard Fork that the development can be split in two, as for the Ethereum and the Ethereum Classic.
- Hardware Wallet
A hardware wallet is a physical wallet of cryptocurrencies such as Ledger and Trezor.
Hash is an abbreviation for the cryptographic hash function. The hash function is a mathematical process that measures a quantity of power.
The Hashrate is the unit of power of a miner or a network.
HODL is a term that defines holding cryptos for a long period of time. This expression comes from a mistake made by a user on the Bitcoin Talk forum, where he wrote HODL instead of HOLD several times.
An ICO or Initial Coin Offering is a distribution of tokens when a cryptocurrency project is fundraising. In an ICO, the purchase of tokens is equivalent to the purchase of shares in a traditional company.
- LHR (Light Hashrate) GPUs
Lite Hashrate GPUs (LHR GPUs) are graphics cards designed to limit their efficiency in cryptocurrency mining, discouraging their use for intensive mining purposes. This limitation aims to make graphics cards more accessible to gamers and regular users.
- Memory Clock
“Memory Clock” refers to the speed at which data is read and written to the video memory of a graphics card, used notably in cryptocurrency mining.
Mining is a practice that allows a blockchain to verify transactions through decentralized machines. These machines, which are owned by miners, validate transactions, also called blocks. Then the miners receive a reward, in cryptocurrency, for their mining.
- Mining Pool
A mining pool is a service that allows miners to join together as a single entity for the purpose of mining cryptocurrencies.
- Mining Farm
A mining farm is an area dedicated to the mining of cryptocurrencies. Some people invest in buildings and hundreds of machines in order to mine as much cryptocurrency as possible.
- Mining RIG
Mining RIG is the term used to define a mining machine. These machines composed of graphic cards (GPU) make it possible, thanks to their hash power, to verify the transactions of a blockchain.
The network is the set of engaged nodes that helps the operation of the blockchain.
In the network, a node represents a machine that works for the good working of the blockchain.
When a transaction is validated by a miner, it is embedded in a block that is named by a series of random characters, called a Nonce.
- Power Level
Power Level refers to the computational and processing capacity of a blockchain network, usually measured in terms of hash power (hashrate). A high power level indicates a greater ability to secure the network and validate transactions, but it can also require a significant amount of energy.
- Proof of Work (PoW)
Proof of Work (PoW) is the first proof system used in the blockchain. This proof was introduced with the Bitcoin blockchain. It is a consensus algorithm that checks a block by asking the machines, also called miners, to do a very complex job. The objective of this work is to eliminate the potential proliferation of inappropriate information that could affect the proper operation of the blockchain.
- Proof of Stake (PoS)
Proof of Stake (PoS) is a verification process that is completely different from the algorithm Proof of Work (PoW). In fact, there is no question of working on a complex job to validate a new block. Proof of Stake (PoS) based on the principle that it is required to own and stock a certain part of the blockchain, also called staking, to take part in the block validation process. This part is represented by the cryptocurrency of the blockchain.
- PPS (Pay-Per-Share)
It’s a pretty simple method of payment. Miners are paid for each validated share. Then the mining pool will pay a small reward to thank the miners for validating a share. Please note that you will always be paid with the PPS payment method, no matter if the mining pool finds a block or not.
- PPS + (Pay-Per-Share +)
It is an identical payment method similar to regular Pay Per Share. The one and only difference is that the mining pool also pays the fee transactions that are included if a block is found. Fee transactions are a small, but a necessary fee when you make a transaction.
- PPLNS (Pay-Per-Last-N-Share)
The Pay Per Last N Share system rewards miners once a block has been found by the mining pool. You will therefore only be paid after the block has been found. It is important to know that you lose your reward if you disconnect from the mining pool before the block is found.
- Ravencoin (RVN)
- Satoshi Nakamoto
Satoshi Nakamoto is the mysterious creator of Bitcoin. He is also the founder of Bitcoin.org and the Bitcoin Talk forum.
- Seed Phrase
A “Seed Phrase” is a pre-generated series of words that serves as a backup to access and restore a cryptocurrency wallet.
A Shitcoin is a term used to refer to the not-so-serious crypto-currencies that are only used to scam people.
“Slashing” refers to a penalty imposed on network validators who violate the rules, resulting in the confiscation of a portion of their holdings.
- Software Wallet
It is a wallet to store your cryptocurrency. They are software wallets like MyCrypto and Exodus.
- Smart Contracts
A smart contract is a computing protocol designed to facilitate, verify or apply a contract on the blockchain.
- Stable Coins
A crypto-currency with very low volatility, similar to fiat currencies.
“Staking” refers to the process where a crypto holder locks their funds as collateral to support network operations and receives rewards in return.
A “token” is a digital unit that represents ownership or value on a blockchain.
- Transaction Fee
“Transaction Fee” refers to the amount of money required to process and validate a transaction on a cryptocurrency network.
- Crypto Wallet
A “wallet” is a secure electronic wallet that stores, manages, and facilitates transactions with cryptocurrencies.
“Whale” refers to an individual or entity holding a significantly large amount of cryptocurrency, capable of influencing the markets through massive transactions.
- White paper
A white paper is a technical document published by the creators of a cryptocurrency project. It provides detailed information about the concept, underlying technology, goals, and how the project will be implemented.