VBit Crypto Mining Glossary

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DATA CENTER – These are custom facilities that a professional large scale uses to house advanced mining equipment and provide optimum mining conditions for profitability.

DECENTRALIZATION – Decentralization refers to the absence of a supervising centralized entity to manage operations. Bitcoin utilizes the combined computing power of its community to create a working peer-to-peer currency. 

DESKTOP WALLET – A desktop wallet refers to software installed on your computer, which allows you to access and manage your coins.

DIFFICULTY– Bitcoin mining difficulty is a measure of how many hashes (statistically) must be generated to find a valid solution to solve the next Bitcoin block and earn the mining reward. The higher the total hash rate, the more difficult mining becomes.

DOUBLE SPENDING – This is a potential flaw in a digital process, where the same amount of cryptocurrency can be spent more than once.

DUMPING– This is a phenomenon where a large number of cryptocurrency holders sell at once or a few people with large holdings sell.

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