LIGHTNING NETWORK - IRREVERSIBLE - HARD FORK - MT GOX - SATOSHI NAKAMOTO - CROWDSOURCING - BITCOIN NETWORK - DAO - MINING ALGORITHM - SEGWIT2X -

rspower (48)in #bitcoin • 8 years ago

LIGHTNING NETWORK this is usually done online via websites where people can donate. the pooling of resources such as information or money contributed by the general population, to a goal.
IRREVERSIBLE bitcoin’s mining algorithm is sha256, whilst litecoin & dogecoin’s are scrypt. the algorithm used by a cryptocurrency to sign transactions, these vary across different cryptocurrencies.
HARD FORK in 2008, nakamoto published a paper on the cryptography mailing list at metzdowd.com describing the bitcoin digital currency. is a person or group of people who created the bitcoin protocol and reference software, bitcoin core (formerly known as bitcoin-qt). the mysterious creator of bitcoin. in 2009, they released the first bitcoin software that launched the network and the first units of the bitcoin cryptocurrency, called bitcoins.
MT GOX there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody.
SATOSHI NAKAMOTO also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules.
CROWDSOURCING this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain.
BITCOIN NETWORK a type of fork that requires all nodes and users to upgrade to the latest version of the protocol software and that renders previously invalid transactions valid, and vice versa.
DAO it consists of two sequential phases — to activate segwit using bip 91 (making it compatible with the uasf) and then to hard fork the base block size to 2 mb ninety days later. is proposed as a way to end bitcoin’s ‘scaling debate’ and was said to be a compromise between the two sides of the debate — those who want to achieve scaling through segregated witness (segwit) and those who prefer to scale by increasing the block size. also knows as the 'the new york agreement'.
MINING ALGORITHM based in japan, the exchange was started by jed mccaleb in 2010. mt. gox has since gone into administration. one of the first bitcoin exchanges, and at one time the most popular.
SEGWIT2X this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.
Source + Source


LIGHTNING NETWORK	this is usually done online via websites where people can donate. the pooling of resources such as information or money contributed by the general population, to a goal.
IRREVERSIBLE	bitcoin’s mining algorithm is sha256, whilst litecoin & dogecoin’s are scrypt. the algorithm used by a cryptocurrency to sign transactions, these vary across different cryptocurrencies.
HARD FORK	in 2008, nakamoto published a paper on the cryptography mailing list at metzdowd.com describing the bitcoin digital currency. is a person or group of people who created the bitcoin protocol and reference software, bitcoin core (formerly known as bitcoin-qt). the mysterious creator of bitcoin. in 2009, they released the first bitcoin software that launched the network and the first units of the bitcoin cryptocurrency, called bitcoins.
MT GOX	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody.
SATOSHI NAKAMOTO	also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules.
CROWDSOURCING	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain.
BITCOIN NETWORK	a type of fork that requires all nodes and users to upgrade to the latest version of the protocol software and that renders previously invalid transactions valid, and vice versa.
DAO	it consists of two sequential phases — to activate segwit using bip 91 (making it compatible with the uasf) and then to hard fork the base block size to 2 mb ninety days later. is proposed as a way to end bitcoin’s ‘scaling debate’ and was said to be a compromise between the two sides of the debate — those who want to achieve scaling through segregated witness (segwit) and those who prefer to scale by increasing the block size. also knows as the 'the new york agreement'.
MINING ALGORITHM	based in japan, the exchange was started by jed mccaleb in 2010. mt. gox has since gone into administration. one of the first bitcoin exchanges, and at one time the most popular.
SEGWIT2X	this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.

LIGHTNING NETWORK this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.
IRREVERSIBLE there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody.
HARD FORK a type of fork that requires all nodes and users to upgrade to the latest version of the protocol software and that renders previously invalid transactions valid, and vice versa.
MT GOX based in japan, the exchange was started by jed mccaleb in 2010. mt. gox has since gone into administration. one of the first bitcoin exchanges, and at one time the most popular.
SATOSHI NAKAMOTO in 2008, nakamoto published a paper on the cryptography mailing list at metzdowd.com describing the bitcoin digital currency. is a person or group of people who created the bitcoin protocol and reference software, bitcoin core (formerly known as bitcoin-qt). the mysterious creator of bitcoin. in 2009, they released the first bitcoin software that launched the network and the first units of the bitcoin cryptocurrency, called bitcoins.
CROWDSOURCING this is usually done online via websites where people can donate. the pooling of resources such as information or money contributed by the general population, to a goal.
BITCOIN NETWORK this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain.
DAO also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules.
MINING ALGORITHM bitcoin’s mining algorithm is sha256, whilst litecoin & dogecoin’s are scrypt. the algorithm used by a cryptocurrency to sign transactions, these vary across different cryptocurrencies.
SEGWIT2X it consists of two sequential phases — to activate segwit using bip 91 (making it compatible with the uasf) and then to hard fork the base block size to 2 mb ninety days later. is proposed as a way to end bitcoin’s ‘scaling debate’ and was said to be a compromise between the two sides of the debate — those who want to achieve scaling through segregated witness (segwit) and those who prefer to scale by increasing the block size. also knows as the 'the new york agreement'.
Source + Source


LIGHTNING NETWORK	this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.
IRREVERSIBLE	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody.
HARD FORK	a type of fork that requires all nodes and users to upgrade to the latest version of the protocol software and that renders previously invalid transactions valid, and vice versa.
MT GOX	based in japan, the exchange was started by jed mccaleb in 2010. mt. gox has since gone into administration. one of the first bitcoin exchanges, and at one time the most popular.
SATOSHI NAKAMOTO	in 2008, nakamoto published a paper on the cryptography mailing list at metzdowd.com describing the bitcoin digital currency. is a person or group of people who created the bitcoin protocol and reference software, bitcoin core (formerly known as bitcoin-qt). the mysterious creator of bitcoin. in 2009, they released the first bitcoin software that launched the network and the first units of the bitcoin cryptocurrency, called bitcoins.
CROWDSOURCING	this is usually done online via websites where people can donate. the pooling of resources such as information or money contributed by the general population, to a goal.
BITCOIN NETWORK	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain.
DAO	also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules.
MINING ALGORITHM	bitcoin’s mining algorithm is sha256, whilst litecoin & dogecoin’s are scrypt. the algorithm used by a cryptocurrency to sign transactions, these vary across different cryptocurrencies.
SEGWIT2X	it consists of two sequential phases — to activate segwit using bip 91 (making it compatible with the uasf) and then to hard fork the base block size to 2 mb ninety days later. is proposed as a way to end bitcoin’s ‘scaling debate’ and was said to be a compromise between the two sides of the debate — those who want to achieve scaling through segregated witness (segwit) and those who prefer to scale by increasing the block size. also knows as the 'the new york agreement'.

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8 years ago in #bitcoin by rspower (48)

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LIGHTNING NETWORK - IRREVERSIBLE - HARD FORK - MT GOX - SATOSHI NAKAMOTO - CROWDSOURCING - BITCOIN NETWORK - DAO - MINING ALGORITHM - SEGWIT2X -

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