Classical cryptocurrency mining requires huge investments in hardware and electricity. Cloud mining companies aim to make mining accessible to everybody. People just can log in to a website and invest money in the company which already has mining datacenters.
The blockchain element that determines how consensus is reached on that blockchain. In other words; it is the part of the blockchain protocol that describes who gets to validate blocks of data (and thus is entitled to the reward) and how others can verify its legitimacy.
A blockchain where a pre-selected set of nodes handles the consensus process. It is also called a permissioned blockchain network that can be a hybrid model built between the trusted entity model of private blockchains and low trust provided by the public blockchain.
A function that returns a unique big number that is commonly represented as fixed-length string. The returned string is unique for every unique input. Used to create a “digital ID” or “digital thumbprint” of an input data(bits).
The encryption and decryption of data. There are two main cryptographic concepts used in the blockchain – Hashing and Digital Signatures. In general, there are three forms of encryption that are widely used – symmetric cryptography, asymmetric cryptography, and hashing.
An unauthorized use of a device owned by others, to mine cryptocurrency. The first widely known attempt for cryptojacking was the torrent tracker Piratebay. They enabled an in-browser mining software, so when somebody visits the website, his/her computer will start mining cryptocurrency via the browser with no indication of it happening.