Mining

What does Mining means?

It’s the cryptocurrency generation process. And it involves adding verified blocks to the blockchain to maintain its integrity through a proof of work (PoW) process. Mining is often laborious and requires high computing power. And because it’s competitive, rewarding the faster block miner, participants invest heavily in the process.

Random Slangs

Smart contract

A program on the blockchain that runs automatically only when transacting parties satisfy predefined conditions. Hence, unlike real-life contracts, you can’t alter smart contracts once

Layer 2

A secondary technology built on top of an existing blockchain. The purpose of layer 2 is to scale the blockchain with more solutions, improving its

GTD

A short form for “Going to dust.” It defines an NFT project that was probably once valuable but went down the drain and became a

Airdrop

New NFTs or cryptocurrencies that are automatically sent to your wallet for free. This is a common practice in the crypto space to attract and reward early project adopters.

Liquidity

Liquidity measures the ease of swapping from one token to another or converting a cryptocurrency to stable coins like USDT.