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Micropayment

Any payment unusually small is considered a micropayment. Paying for a coffee or a bus fare might be considered a micropayment. The Lightning Network allows for payments below 1 Satoshi.

Microtransaction

Microtransaction is the ability to pay for things in very small sums thanks to the fact that Bitcoin may be extended to 8 decimal places. Microtransactions are especially important to…

Miner

A miner in cryptocurrency is someone who uses the computing power of their own hardware to validate transactions on a blockchain in order to collect the blockchain rewards.

Mining

The process of trying to ‘solve’ the next block’s PoW puzzle. It requires obscene amounts of computer processing power to do effectively. In the case of Bitcoin the difficulty increases…

Mining Farm

Big storage house full of mining rigs. These were once primarily in China, but with recent regulatory changes many mining farms in China have shutdown or moved. Russia is a…

Mining Node

A node that sacrifices computing power to solve the proof-of-work puzzle in order to maintain the integrity of the network. Nodes help provide security to the Bitcoin network, as well…

Mining Pools

The process of mining cryptocurrency blocks is extremely resource intensive in many cases, and can use up a lot of computer processing power. It is also very difficult to mine…

Mining Rig

A machine/computer specifically designed to solve the PoW puzzle in the most power efficient way. Mining rigs these days are equipped with a specialized ASIC chip that has been designed…

Mintage Cap

The process of mining cryptocurrencies creates new coins, which is necessary because the blockchain requires enough coins to be available to attract new investors. The generation of new coins is…

Mixing Service

Mixing Service is the act of combining Bitcoins from different people by switching their addresses. This can help improve privacy and anonymity, but also can be used for money laundering.

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