VBit Crypto Mining Glossary


GENESIS BLOCK – This refers to the first block on a blockchain, often referred to as block 0 or block 1. For Bitcoin, Satoshi Nakamoto mined the genesis block.

GENERATION TRANSACTION – This is the first transaction a miner entered into a block.

GPU – A Graphics Processing Unit (GPU), is responsible for the digital rendering in a computer system. GPUs came into mining to upgrade on CPUs as Bitcoin mining difficulty increased. However, they are not as potentially powerful as ASIC rigs.

GOLDEN NOUNCE – it is a number which when found by the miner qualifies them to add a block in the blockchain and earns the block reward.

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