SOFTFORK - CONFIRMATION - PEER-TO-PEER NETWORK (P2P) - SHA-256 -

ali.wood (49)in #bitcoin • 6 years ago


SOFTFORK	since old nodes will recognize the new blocks as valid, a softfork is backward-compatible. a softfork is a change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. this kind of fork requires only a majority of the miners upgrading to enforce the new rules^{^{Source + Source}}
CONFIRMATION	these networks can become massive, allowing for things like file-sharing or cryptocurrency. any computer network where two or more computers are connected and share resources without going through a separate server. ^{^{Source + Source}}
PEER-TO-PEER NETWORK (P2P)	this is a successful act of where the transaction has hashed and added to the blockchain.^{^{Source + Source}}
SHA-256	it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. ^{^{Source + Source}}


SOFTFORK	since old nodes will recognize the new blocks as valid, a softfork is backward-compatible. a softfork is a change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. this kind of fork requires only a majority of the miners upgrading to enforce the new rules^{^{Source + Source}}
CONFIRMATION	this is a successful act of where the transaction has hashed and added to the blockchain.^{^{Source + Source}}
PEER-TO-PEER NETWORK (P2P)	these networks can become massive, allowing for things like file-sharing or cryptocurrency. any computer network where two or more computers are connected and share resources without going through a separate server. ^{^{Source + Source}}
SHA-256	it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. ^{^{Source + Source}}

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