GENESIS BLOCK - ASIC - SCRYPT - IRREVERSIBLE -

rstracer (48)in #bitcoin • 6 years ago


GENESIS BLOCK	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}
ASIC	refers to the 1st or first few blocks of a blockchain.^{Source + Source}
SCRYPT	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}
IRREVERSIBLE	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody. ^{Source + Source}


GENESIS BLOCK	refers to the 1st or first few blocks of a blockchain.^{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}
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}
IRREVERSIBLE	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody. ^{Source + Source}

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