CENTRAL LEDGER - BIP - KYC - SOFT FORK -

rssniper (49)in #blockchain • 6 years ago


CENTRAL LEDGER	know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.^{Source + Source}
BIP	a ledger that is maintained by a central agency.^{Source + Source}
KYC	can be submitted by anyone who wants to improve the bitcoin network. an acronym for “bitcoin improvement proposals”. ^{Source + Source}
SOFT FORK	this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. a soft fork differs from a hard fork in that only previously valid transactions are made invalid. ^{Source + Source}


CENTRAL LEDGER	a ledger that is maintained by a central agency.^{Source + Source}
BIP	can be submitted by anyone who wants to improve the bitcoin network. an acronym for “bitcoin improvement proposals”. ^{Source + Source}
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.^{Source + Source}
SOFT FORK	this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. a soft fork differs from a hard fork in that only previously valid transactions are made invalid. ^{Source + Source}

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