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 “sender” of a special transaction included in every new block (on some blockchains) that creates new tokens from nothing. These tokens are given as a reward to the miner that creates the new block, thereby increasing the total amount of tokens in circulation within the blockchain. Some blockchains use the coinbase only at block 0 and have 100% of their tokens already created when the blockchain is launched. (“Coinbase” should not to be confused with the cryptocurrency exchange from San Francisco of the same name.)
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.