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Mining Glossary

  • Blockchain

    51% Attack

    When a party has more than 51% of the network hashrate and uses it for an attack like double-spend.
  • Hardware

    ASIC

    Specialized hardware used to mine Bitcoin and other cryptocurrencies. The most common manufacturers are Bitmain, MicroBT, Canaan, Innosillicon, Ebang, and StrongU.
  • Hardware

    ASIC Boost

    AsicBoost exploits the fact that Bitcoin block hashes are created from separate chunks of 64 bytes of data. Bitmain was accused of using it covertly at one point but now it is seen as the industry standard and an optimization.
  • Blockchain

    ASIC Resistant

    Some communities like Monero try to prevent ASICs from coming onto the network. These communities feel like they are more decentralized without specialized hardware, a rather futile approach for the majority of coins. To be ASIC resistant a coin can do things such as hard forks every 6 months, make it more memory-intensive, etc.
  • Hardware

    Bitcoin Battery

    Coined by the mining company, Layer1 , a Bitcoin Battery acts essentially as the inverse to an actual battery. Instead of storing excess energy, a powerplant or grid can consume it on-site, allowing them to globally distribute electricity with Bitcoin as the medium of exchange.
  • Hardware

    Bitcoin Hottub

    What every miner needs. Jesse Peltan created a hottub powered by Bitcoin miners in immersion cooling.
  • Blockchain

    Block Reward

    Newly issued coins by the network. For Bitcoin, the block reward is currently 6.25 BTC and halves every 4 years.

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