SHA-256 - DIFFICULTY - EXCHANGE RATE - FORK -

ali.wood (49)in #blockchain • 6 years ago


SHA-256	the exchange rate is based on two things; how it compares to a traditional currency, or how it stacks up against another type of cryptocurrency. cryptocurrency does not have this issue as it is digital. however, this is normally, money issued by the government, such as the dollar, will have a fluid exchange rate based on the country it is spent in. ^{Source + Source}
DIFFICULTY	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 RATE	it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. ^{Source + Source}
FORK	this refers to how difficult/easily a data blocks of transaction information can be mined successfully.^{Source + Source}


SHA-256	it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. ^{Source + Source}
DIFFICULTY	this refers to how difficult/easily a data blocks of transaction information can be mined successfully.^{Source + Source}
EXCHANGE RATE	the exchange rate is based on two things; how it compares to a traditional currency, or how it stacks up against another type of cryptocurrency. cryptocurrency does not have this issue as it is digital. however, this is normally, money issued by the government, such as the dollar, will have a fluid exchange rate based on the country it is spent in. ^{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}

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