CONSORTIUM BLOCKCHAIN - PAPER WALLET - MULTI SIGNATURE TRANSACTION - BITCOIN PROTOCOL - KYC - ASYMMETRIC KEY ALGORITHM - HASH - CENTRAL LEDGER - SIDECHAIN - BLOCK REWARD -

ali.wood (49)in #blockchain • 7 years ago

CONSORTIUM BLOCKCHAIN this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data.
PAPER WALLET all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
MULTI SIGNATURE TRANSACTION this has the potential to improve consumer protection. a bitcoin transaction which requires signatures from multiple parties to authorize the sending of bitcoins.
BITCOIN PROTOCOL e.g: a consortium of 15 financial institutions. a blockchain where the consensus process is controlled by a pre-selected set of nodes.
KYC a ledger that is maintained by a central agency.
ASYMMETRIC KEY ALGORITHM public and private keys are needed to support cryptocurrency transactions. both sender and receiver have this key, and can send secure information. the algorithm used to generate public and private keys.
HASH know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.
CENTRAL LEDGER protocol to set the “rules” for how the network runs. the open source, cryptographic protocol which operates on the bitcoin network.
SIDECHAIN verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during mining.
BLOCK REWARD these can have their own unique features and can have bitcoins sent to and from them. these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain.
Source + Source


CONSORTIUM BLOCKCHAIN	this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data.
PAPER WALLET	all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
MULTI SIGNATURE TRANSACTION	this has the potential to improve consumer protection. a bitcoin transaction which requires signatures from multiple parties to authorize the sending of bitcoins.
BITCOIN PROTOCOL	e.g: a consortium of 15 financial institutions. a blockchain where the consensus process is controlled by a pre-selected set of nodes.
KYC	a ledger that is maintained by a central agency.
ASYMMETRIC KEY ALGORITHM	public and private keys are needed to support cryptocurrency transactions. both sender and receiver have this key, and can send secure information. the algorithm used to generate public and private keys.
HASH	know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.
CENTRAL LEDGER	protocol to set the “rules” for how the network runs. the open source, cryptographic protocol which operates on the bitcoin network.
SIDECHAIN	verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during mining.
BLOCK REWARD	these can have their own unique features and can have bitcoins sent to and from them. these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain.

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.
PAPER WALLET all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
MULTI SIGNATURE TRANSACTION this has the potential to improve consumer protection. a bitcoin transaction which requires signatures from multiple parties to authorize the sending of bitcoins.
BITCOIN PROTOCOL protocol to set the “rules” for how the network runs. the open source, cryptographic protocol which operates on the bitcoin network.
KYC know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.
ASYMMETRIC KEY ALGORITHM public and private keys are needed to support cryptocurrency transactions. both sender and receiver have this key, and can send secure information. the algorithm used to generate public and private keys.
HASH this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data.
CENTRAL LEDGER a ledger that is maintained by a central agency.
SIDECHAIN these can have their own unique features and can have bitcoins sent to and from them. these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain.
BLOCK REWARD verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during 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.
PAPER WALLET	all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
MULTI SIGNATURE TRANSACTION	this has the potential to improve consumer protection. a bitcoin transaction which requires signatures from multiple parties to authorize the sending of bitcoins.
BITCOIN PROTOCOL	protocol to set the “rules” for how the network runs. the open source, cryptographic protocol which operates on the bitcoin network.
KYC	know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.
ASYMMETRIC KEY ALGORITHM	public and private keys are needed to support cryptocurrency transactions. both sender and receiver have this key, and can send secure information. the algorithm used to generate public and private keys.
HASH	this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data.
CENTRAL LEDGER	a ledger that is maintained by a central agency.
SIDECHAIN	these can have their own unique features and can have bitcoins sent to and from them. these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain.
BLOCK REWARD	verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during mining.

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7 years ago in #blockchain by ali.wood (49)

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CONSORTIUM BLOCKCHAIN - PAPER WALLET - MULTI SIGNATURE TRANSACTION - BITCOIN PROTOCOL - KYC - ASYMMETRIC KEY ALGORITHM - HASH - CENTRAL LEDGER - SIDECHAIN - BLOCK REWARD -

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