ASIC - MINING ALGORITHM - PROOF- OF- STAKE (POS) - WIRE TRANSFER -

rssniper (49)in #bitcoin • 8 years ago


ASIC	often compared to gpus, asics are specially made for mining and may offer significant power savings. short form for ‘application specific integrated circuit’. ^{Source + Source}
MINING ALGORITHM	commonly used to send and retrieve fiat currency from bitcoin exchanges. electronically transferring money from one person to another. ^{Source + Source}
PROOF- OF- STAKE (POS)	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. ^{Source + Source}
WIRE TRANSFER	the more bitcoin or altcoin owned by a miner, the more mining power he or she has. concept states that a person can mine or validate block transactions according to how many coins he or she holds. ^{Source + Source}


ASIC	often compared to gpus, asics are specially made for mining and may offer significant power savings. short form for ‘application specific integrated circuit’. ^{Source + Source}
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. ^{Source + Source}
PROOF- OF- STAKE (POS)	the more bitcoin or altcoin owned by a miner, the more mining power he or she has. concept states that a person can mine or validate block transactions according to how many coins he or she holds. ^{Source + Source}
WIRE TRANSFER	commonly used to send and retrieve fiat currency from bitcoin exchanges. electronically transferring money from one person to another. ^{Source + Source}

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