PROOF OF WORK - FORK - TURING COMPLETE - DESKTOP WALLET -

megan.brown (48)in #blockchain • 6 years ago


PROOF OF WORK	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity. ^{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}
TURING COMPLETE	allow the spending and management of your bitcoins. a wallet that stores the private keys on your computer. ^{Source + Source}
DESKTOP WALLET	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}


PROOF OF WORK	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity. ^{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}
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}
DESKTOP WALLET	allow the spending and management of your bitcoins. a wallet that stores the private keys on your computer. ^{Source + Source}

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