VBit Crypto Mining Glossary
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.