CRYPTOCURRENCY - SIDECHAIN - CONSORTIUM BLOCKCHAIN - FORK -

rssniper (49)in #blockchain • 7 years ago


CRYPTOCURRENCY	e.g: a consortium of 15 financial institutions. a blockchain where the consensus process is controlled by a pre-selected set of nodes. ^{^{Source + Source}}
SIDECHAIN	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}}
CONSORTIUM BLOCKCHAIN	cryptocurrencies are representations of digital assets. also known as tokens. ^{^{Source + Source}}
FORK	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}}


CRYPTOCURRENCY	cryptocurrencies are representations of digital assets. also known as tokens. ^{^{Source + Source}}
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. ^{^{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. ^{^{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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