Key mining terms
Hashrate is the number of calculations tested each second. TH/s means one trillion hashes per second. A worker is a unit of power tracked by a cloud mining service. An ASIC is a circuit designed for a specific algorithm. A block is a group of transactions added under network rules.
- Hashrate = calculations per second
- Difficulty = the Bitcoin network target
- Platform reward ≠ block reward
Protocol, rewards and confirmations
Proof of work is the process miners use to find a hash below the network target. Difficulty adjusts that target. A block reward follows protocol rules, while an app reward follows platform terms. A confirmation means another block has been added after a transaction.
Also see : Bitcoin, Mining, FAQ, Open help centre.
Protocol source: official Bitcoin Developer Guide: Bitcoin Developer Guide — Block Chain