VBit Crypto Mining Glossary

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CIRCULATING SUPPLY – This is the total supply of cryptocurrency available for trading or in HODL, other than what is yet to be mined.

CLOUD MINING – Cloud mining is a method of mining crypto where an investor utilizes a remote data center with shared processing power to mine crypto without necessarily owning mining equipment.

COMPUTING POWER – This metric refers to how fast a computer processor can complete a task successfully. It is measured in Million Instructions per Second (MIPS).

CONFIRMATION – Once a transaction is part of a block on the blockchain, each subsequent block is a confirmation. The more the confirmations, the more difficult it is to reverse the transaction, making it more secure.

CPU – A CPU is the part of a computer that controls and executes operations.

CRYPTO – A popular, shorter way of referring to cryptocurrency.

CUSTODIAL – When referring to cryptocurrency wallets and exchanges, the term custodial refers to a set-up whereby the service provider holds user private keys and provides a login account.

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