BITCOIN NETWORK - PAPER WALLET - SOFTFORK - OTC EXCHANGE -

rssniper (49)in #blockchain • 6 years ago


BITCOIN NETWORK	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain. ^{Source + Source}
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). ^{Source + Source}
SOFTFORK	rather than relying on a central exchange to mediate between them; an exchange in which traders make deals with each other directly. ^{Source + Source}
OTC EXCHANGE	since old nodes will recognize the new blocks as valid, a softfork is backward-compatible. a softfork is a change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. this kind of fork requires only a majority of the miners upgrading to enforce the new rules^{Source + Source}


BITCOIN NETWORK	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain. ^{Source + Source}
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). ^{Source + Source}
SOFTFORK	since old nodes will recognize the new blocks as valid, a softfork is backward-compatible. a softfork is a change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. this kind of fork requires only a majority of the miners upgrading to enforce the new rules^{Source + Source}
OTC EXCHANGE	rather than relying on a central exchange to mediate between them; an exchange in which traders make deals with each other directly. ^{Source + Source}

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