HASH - AML - COLD STORAGE - LIGHT NODE -

in #bitcoin6 years ago


HASH
a computer on a blockchain network that (making use of the simplified payment verification (spv) mode), only verifies a limited number of transactions relevant to its dealings. Source + Source
AML
this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data. Source + Source
COLD STORAGE
aml mechanisms can be legal or technical in nature. regulators frequently apply aml techniques to bitcoin exchanges. anti-money laundering techniques are used to stop people converting illegally obtained funds, to appear as though they have been earned legally. Source + Source
LIGHT NODE
these wallets are known as “cold wallets”. this could be in the form of a hardware wallet, usb stick or a paper wallet. the safest way to store your private keys is by keeping them offline in “cold storage”. Source + Source


HASH
this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data. Source + Source
AML
aml mechanisms can be legal or technical in nature. regulators frequently apply aml techniques to bitcoin exchanges. anti-money laundering techniques are used to stop people converting illegally obtained funds, to appear as though they have been earned legally. Source + Source
COLD STORAGE
these wallets are known as “cold wallets”. this could be in the form of a hardware wallet, usb stick or a paper wallet. the safest way to store your private keys is by keeping them offline in “cold storage”. Source + Source
LIGHT NODE
a computer on a blockchain network that (making use of the simplified payment verification (spv) mode), only verifies a limited number of transactions relevant to its dealings. Source + Source

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