Mining Intermediate
Mining is using computing power to validate transactions and secure a proof-of-work chain such as Bitcoin.
Miners race to solve a cryptographic puzzle; the winner adds the next block and collects newly minted coins plus fees. It uses a lot of electricity and has become an industrial-scale business.
This definition is educational and not financial advice. Crypto is volatile and high-risk — always do your own research.
Related terms
Beginner
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Market Capitalisation
Market cap is a coin’s price multiplied by how many coins are in circulation — a rough measure of its overall size.
BeginnerNFT
An NFT (non-fungible token) is a one-of-a-kind blockchain token used to represent ownership of a specific item, like a piece of art.
IntermediatePrivate Key
A private key is the secret that controls a wallet and signs off on its transactions.