Mining glossary
The words that come up in my videos and guides, each explained in one sentence.
- Block
- A page of Bitcoin's big ledger. A new one is written roughly every ten minutes.
- Fingerprint (hash)
- A 64-character code computed from the block. Impossible to predict: you have to try.
- Difficulty
- The number of attempts needed on average to find a block. It adjusts itself every two weeks. Difficulty explained
- TH/s, PH/s, EH/s
- Attempts per second: a trillion, a quadrillion, a quintillion.
- Pool
- A server that machines connect to. A regular pool shares the winnings, a solo pool does not. Solo or pool?
- Solo
- Mining for yourself alone: the whole jackpot, or nothing. Solo mining
- Bitaxe
- A small open-source Bitcoin miner, perfect to start with. Set it up
- Stratum
- The language machines and pools speak.
- Node
- A computer that keeps a full copy of Bitcoin and checks every block.