Mining related vocabulary

Miner

Professional equipment that competes for accounting rights by running a large number of operations to obtain blockchain token rewards is generally composed of original components such as mining chips, heat sinks, fans, and power supplies.

Mining

The process of generating digital currency is called “mining.” In layman's terms, the process of using computer hardware to calculate the location of coins and obtain them is called mining.

Miner

Miners refer to people who are engaged in mining virtual currencies. The main job of miners is to record each transaction and transaction time data in a block, and obtain rewards through their computing power.

Mine

A mining farm refers to a place where mining machines are centrally managed. They are generally located in remote places where electricity costs are relatively cheap and stable.

Gas (miner fee)

Gas is the fuel of the Ethereum world. As a unit of computing workload, it is the reward paid by users who need to execute smart contracts to miners for packaged transactions. It determines the normal operation of the Ethereum network ecosystem.

Gas is composed of two parts: gas limit (limit) * gas Price (price)

Gas Price refers to the price that users are willing to spend per gas unit.

The gas limit is the maximum amount of gas a user is willing to pay to perform an operation or confirm a transaction (minimum 21,000).