SCRYPT - FORK - EXCHANGE - TURING COMPLETE -

in #bitcoin7 years ago


SCRYPT
compared to sha256, this is quicker as it does not use up as much processing time. scrypt is a type of cryptographic algorithm and is used by litecoin. 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
EXCHANGE
a place used by sellers and buyers where they can trade bitcoins or other cryptocurrencies.Source + Source
TURING COMPLETE
an example of this is the ethereum virtual machine (evm). the ability of a machine to perform calculations that any other programmable computer is capable of, is referred by turing complete refers to. Source + Source


SCRYPT
compared to sha256, this is quicker as it does not use up as much processing time. scrypt is a type of cryptographic algorithm and is used by litecoin. 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
EXCHANGE
a place used by sellers and buyers where they can trade bitcoins or other cryptocurrencies.Source + Source
TURING COMPLETE
an example of this is the ethereum virtual machine (evm). the ability of a machine to perform calculations that any other programmable computer is capable of, is referred by turing complete refers to. Source + Source

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