VBit Crypto Mining Glossary

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FIAT CURRENCY – These are the national currencies issued by Central Banks. An example is the USD.

FORK – A fork is the split of a blockchain resulting in two blockchain versions running simultaneously. Forks can be useful in upgrades but some end up splitting coin communities and creating separate coins.

FEAR OF MISSING OUT (FOMO) – This refers to joining a wave of crypto purchases simply because everyone else is doing it without reliable certainty that the coin has actual value or that you are not buying into a bubble.

FPGA – Field-Programmable Gate Array – A special computer, which can be modified to mine different algorithms.

FUD– This is a common buzzword that refers to fear, uncertainty and doubt in trading cryptocurrencies.

FULL NODE – This is a computer that keeps an entire blockchain’s history, and thus supporting the network by proving the accuracy of the transactions.

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