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Cryptocurrencies?","featured_image_id":10342,"status":"published","chapter_id":7,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/where-to-trade-crypto","featured_image":{"id":10342,"uuid":"0bd8d78a-9423-48ee-9161-34dc1872b97c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","path":"crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","original_path":"crypto/storage/original/where-to-trade-crypto-featured-image.jpg","name":"where-to-trade-crypto-featured-image.jpg","original_name":"where-to-trade-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"85.96KB"},"youtube_video":null},{"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","featured_image_id":10729,"status":"published","chapter_id":7,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-invest-in-crypto","featured_image":{"id":10729,"uuid":"3439a1db-9892-404a-b4b6-a1db5a34bca4","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-invest-in-crypto-featured-image.jpg","name":"how-to-invest-in-crypto-featured-image.jpg","original_name":"how-to-invest-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"75.22KB"},"youtube_video":null},{"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the 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Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main 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Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in 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About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":487,"original_id":null,"author_id":41,"translator_id":null,"title":"What are Megahashes Per Second?","slug":"what-are-megahashes-per-second","section":"M","keyword":"Megahashes Per Second","status":"published","definition":"a unit of measurement; one million hashes per second.","content":"<p><strong>Megahashes per second (MH/s)</strong> is a unit of measurement equal to one million hashes per second.</p>\n<p>A <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hash/">
hash is a mathematical application used to convert data into alphanumerics of a fixed, predetermined length. Hashes are used to <strong>increase the speed of data storage and retrieval</strong> as they are shorter and easier to find than complete computations.</p>\n<p>The calculation of hashes is used in <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining/">
cryptocurrency mining</strong></a>. The mining process requires powerful computers and specialized software that can create <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">data blocks</strong></a>. Crypto miners must solve <strong>complicated mathematical problems</strong> which often require an algorithm to crack.</p>\n<p>The calculations are measured at the performance speed of the mining computer, using the hash units of measurement such as MH/s. Cryptocurrency mining requires a lot of speed to solve the hashes, and mining devices can make thousands or, in some cases, even millions of guesses per second. The goal is to <strong>create a new block by solving its calculation</strong>.</p>\n<p>With time, the difficulty rates of mineable cryptocurrencies like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> tend to rise to the point where attempting to solo mine one block <strong>on a single</strong> <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-central-processing-unit-cpu/">CPU at the speed of 50 hashes per second can require nearly a million years. Therefore, CPU is not the recommended method of mining.</p>\n<p><strong>Mining-specific equipment</strong> with upgraded and more powerful hardware, such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-asic/">ASIC miners</strong></a>, is being developed to increase the speed of the mining process and the earnings of the miners themselves. However, the increasing difficulty and power requirements mean that the <strong>energy consumption also goes up</strong>.</p>\n<p>Different cryptocurrencies require different hash rates and power requirements for the mining equipment. The hash rate affects the work of crypto miners directly as the difficulty level determines how likely they are to mine a new block. The <strong>higher the hash rate</strong>, the higher the odds of adding a new block to the chain.</p>\n<p>The size measurements of hashes are the same as those used for other computational storage units, such as Kilo, <strong>Mega</strong>, Giga, or Tera. A hash rate of 100 hashes per second shows that the mining device is able to make 100 guesses per second as it tries to solve the computation of the block.</p>\n<p><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum (ETH)</strong></strong></a> mining machines, which are primarily <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-graphical-processing-unit-gpu/">GPU-based, run their computations in the megahash range. For an Ethereum mining device, 50 megahashes per second is an <strong>optimal mining time with a good GPU</strong>. If an Ethereum mining setup contains seven GPUs running at roughly the same speed, the miner may be able to earn over 10 ETH yearly.</p>","level":"medium","meta_title":"What are Megahashes Per Second? Definition & Meaning | Crypto Wiki","meta_description":"Megahashes Per Second meaning: Megahashes Per Second - a unit of measurement; one million hashes per second.","meta_keywords":null,"language":"en","created_at":"2022-03-22T08:19:28.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-are-megahashes-per-second"},"prevSection":{"id":485,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Memorandum of Understanding (MOU)?","slug":"what-is-memorandum-of-understanding-mou","section":"M","keyword":"Memorandum of Understanding (MOU)","status":"published","definition":"a legally-non binding written agreement between two or more parties.","content":"<p>A <strong>Memorandum of Understanding (MOU)</strong> is a legally-non binding written agreement in which all of the parties involved share a common knowledge of the situation and agree with one another. It’s considered to be the initiating terms of a formal contract and it is widely used in personal financial and law-related interactions, as well as <strong>corporate transactions</strong>.</p>\n<h3>How Does a Memorandum of Understanding (MOU) Work?</h3>\n<p>An MOU is a statement that all parties agree to proceed with a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-contract/">contract or endeavor. It is prepared with the expectation that the project will be completed in the near future. MOUs are often signed confidentially between international governments, country's state agencies, and corporate organizations. It’s considered to be the same <strong>thing as</strong> a Memorandum of Agreement (MOA) or a letter of intent.</p>\n<p>An elaborate MOU provides a framework for coordinating the efforts of all parties involved and outlines the principles or instructions. This guarantees that the <strong>targeted aim is met efficiently</strong>. Before a contract can be executed, the division of labor between the negotiating parties is simplified. This enables the parties to evaluate the plan's suitability and effectiveness without the need for legal intervention.</p>\n<p>An MOU is often referred to as \"an agreement before an agreement\". Prior to the meeting, each party can explain their goals and expectations. Any misinterpretations, questions, or doubts are handled quickly.</p>\n<h3>The Notable Things of a Memorandum of Understanding (MOU)</h3>\n<ul>\n<li>The <strong>goal</strong> and the reason for an MOU should be consensually agreed on by all of the participating parties.</li>\n<li>Every MOU should have explicit instructions that are <strong>aligned with the parties' common understanding</strong> and include details that are important for the contract.</li>\n<li>The time and date of the agreement should be indicated as precisely as possible and met accordingly.</li>\n<li>While signing an MOU, the details of each negotiator and party, as well as their <strong>roles</strong>, should be indicated.</li>\n<li>Rules and repercussions of backing out from the contract (if there are any) should also be indicated in the agreement.</li>\n</ul>\n<h3>The Advantages of a Memorandum of Understanding (MOU)</h3>\n<ul>\n<li>MOUs are drafted in no time, which allows all parties to concentrate on the task at hand.</li>\n<li>With a predetermined MOU in hand, future contracts and agreements are more streamlined and result in <strong>less bother</strong>, as well as help avoid conflicts between parties.</li>\n<li>Signing an MOU is less expensive since it eliminates the need to pay a lawyer or a legal negotiator to draft a mutual agreement.</li>\n<li>An MOU is beyond legal intervention, therefore, it's a perfect preliminary agreement for any project because it's <strong>legally non-binding</strong> and can't be used in court.</li>\n</ul>\n<p>MOUs are widely used by governments and numerous <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency platforms all around the world. They've definitely cleared the way for the development of legal frameworks for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</strong></a>.</p>","level":"medium","meta_title":"What is Memorandum of Understanding (MOU)? Definition & Meaning | Crypto Wiki","meta_description":"Memorandum of Understanding (MOU) meaning: Memorandum of Understanding (MOU) - a legally-non binding written agreement between two or more parties.","meta_keywords":null,"language":"en","created_at":"2022-03-22T08:11:02.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-memorandum-of-understanding-mou"},"currentChapter":"M","currentSection":"what-is-medium-of-exchange","chapterTitle":"M","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-medium-of-exchange","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter M
What is Medium of Exchange?
Medium of Exchange MEANING:
Medium of Exchange -
an intermediary instrument used to aid in a sale or trade.
Let's find out Medium of Exchange meaning, definition in crypto,
what is Medium of Exchange,
and all other detailed facts.
A medium of exchange acts as an intermediary instrument that aids sales, purchases, or trades. Currency is one of the most widely used mediums of exchange. If the money that the currency represents were to lose its viability as a medium of exchange or could no longer be valued accurately, consumers would become unable to plan budgets or determine the demand and supply.
The use of mediums of exchange provides more economic efficiency and can lead to the overall trading activity increasing over time.
In the traditional barter system, two parties can trade when one party has a commodity that the other party wants. A trade cannot occur if both parties want the same commodity that one of them owns.
Trades that involve a medium of exchange mean that the intermediary asset can aid trading in the marketplace. If one party has a desktop computer but wants a laptop, they can sell the desktop for gold or money and then use the acquired medium to buy a laptop.
Money can act as the equalizer of trading, as anyone who has money as a medium of exchange can take part in the market. The process of exchanging money for goods or services functions as a bid-ask.
The producers of the supply can see what the consumers want and how much they are willing to pay for it. Consumers can use the knowledge of the price to plan their budgets around the pricing models. Overall, this process leads to order and predictability being established in the market.
