PEER TO PEER - FORK - ALTCOINS - DISTRIBUTED LEDGER -

in #bitcoin6 years ago


PEER TO PEER
it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. a split in the blockchain where there are temporarily two different blockchains which miners can work on. (this change is called a “hard fork”.) these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. Source + Source
FORK
a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. Source + Source
ALTCOINS
these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative. Source + Source
DISTRIBUTED LEDGER
participants of a p2p network deal directly with each other through a single mediation point. peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected network. Source + Source


PEER TO PEER
participants of a p2p network deal directly with each other through a single mediation point. peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected network. Source + Source
FORK
it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. a split in the blockchain where there are temporarily two different blockchains which miners can work on. (this change is called a “hard fork”.) these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. Source + Source
ALTCOINS
these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative. Source + Source
DISTRIBUTED LEDGER
a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. Source + Source

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