cryptomining
Blockchain reward pursuit
Cryptomining is the process of using computer hardware to validate cryptocurrency transactions and earn new coins as a reward.
The work involves solving complex mathematical problems that verify blockchain records.
Mining requires significant computing power and electricity, which has made it controversial: Their electric bill tripled when the kids started cryptomining in the basement.
Also called cryptocurrency mining or crypto mining.
Peer-to-peer electronic cash
- EthereumProgrammable blockchain network
- LitecoinDecentralized digital currency
- decentralizationDistributing power from center
- ledgerFinancial record book
wallet · nodes · consensus · block · transaction · validator · miner · peer-to-peer
Cryptographic one-way function
- proof-of-workConsensus via computation
- hashingOne-way data transformation
- noncePresent purpose or occasion
- difficultyState of being hard
Single-purpose microchip
- GPUVisual processing hardware
- processorComponent that executes instructions
- chipsetCoordinated circuit collection
- motherboardComputer's primary circuit platform
overclocking · firmware · silicon · CPU · benchmarking · datacenter · ventilation · heatsink
Energy from charged particles
- consumptionUsing up of resources
- kilowattThousand watts of power
- megawattMillion-watt unit
- efficiencyProductive without waste
renewables · hydropower · solar · grid · sustainability · cooling · thermal · load
Capacity to generate gain
- ROIProfit-to-cost ratio
- halvingDividing into two
- poolCollective fund or basin
- sharesUnits of company ownership
payout · fees · volatility · break-even · speculation · investment · depreciation · revenue
Illicit use of others' processors
- malwareHarmful computer programs
- botnetRemotely controlled infected computers
- unauthorizedNot officially permitted
- detectionAct of finding something
ransomware · exploit · firewall · antivirus
Bitcoin
Peer-to-peer electronic cash
- EthereumProgrammable blockchain network
- LitecoinDecentralized digital currency
- decentralizationDistributing power from center
ledger · wallet · nodes · consensus · block · transaction · validator · miner · peer-to-peer · confirmations
SHA-256
Cryptographic one-way function
- proof-of-workConsensus via computation
- hashingOne-way data transformation
- noncePresent purpose or occasion
difficulty · Blake · halving
ASIC
Single-purpose microchip
- GPUVisual processing hardware
- processorComponent that executes instructions
- chipsetCoordinated circuit collection
motherboard · overclocking · firmware · silicon · CPU · benchmarking · datacenter · ventilation · heatsink · riser
electricity
Energy from charged particles
- consumptionUsing up of resources
- kilowattThousand watts of power
- megawattMillion-watt unit
efficiency · renewables · hydropower · solar · grid · sustainability · cooling · thermal · load · demand
profitability
Capacity to generate gain
shares · payout · fees · volatility · break-even · speculation · investment · depreciation · revenue
cryptojacking
Illicit use of others' processors
- malwareHarmful computer programs
- botnetRemotely controlled infected computers
- unauthorizedNot officially permitted
detection · ransomware · exploit · firewall · antivirus
crypto, mining, crypt, cryptic, cryptically, cryptography, cryptographic, cryptographer, encrypt