MINING POOL - CONSORTIUM BLOCKCHAIN - DIGITAL SIGNATURE - BITCOIN TRANSACTION -

rspower (48)in #bitcoin • 6 years ago


MINING POOL	e.g: a consortium of 15 financial institutions. a blockchain where the consensus process is controlled by a pre-selected set of nodes. ^{Source + Source}
CONSORTIUM BLOCKCHAIN	a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining. ^{Source + Source}
DIGITAL SIGNATURE	is generated by public key encryption that is attached to an electronically transmitted document to verify its contents and the sender’s identity. is a digital code. ^{Source + Source}
BITCOIN TRANSACTION	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{Source + Source}


MINING POOL	a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining. ^{Source + Source}
CONSORTIUM BLOCKCHAIN	e.g: a consortium of 15 financial institutions. a blockchain where the consensus process is controlled by a pre-selected set of nodes. ^{Source + Source}
DIGITAL SIGNATURE	is generated by public key encryption that is attached to an electronically transmitted document to verify its contents and the sender’s identity. is a digital code. ^{Source + Source}
BITCOIN TRANSACTION	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{Source + Source}

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