BITCOIN NETWORK - DETERMINISTIC WALLET - PROOF-OF-WORK - SMART CONTRACTS -

rstracer (48)in #blockchain • 6 years ago


BITCOIN NETWORK	smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.^{Source + Source}
DETERMINISTIC WALLET	this seed is all that is needed to restore a wallet if it is lost and can allow the creation of public addresses without the knowledge of the private key. a wallet based on a system of deriving multiple keys from a single starting point known as a seed. ^{Source + Source}
PROOF-OF-WORK	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain. ^{Source + Source}
SMART CONTRACTS	a proof of work is a piece of data which is easy for others to verify and which satisfies certain requirements. is difficult (costly, time-consuming) to produce.^{Source + Source}


BITCOIN NETWORK	this is what processes all bitcoin transactions. the decentralized, peer-to- peer network which maintains the blockchain. ^{Source + Source}
DETERMINISTIC WALLET	this seed is all that is needed to restore a wallet if it is lost and can allow the creation of public addresses without the knowledge of the private key. a wallet based on a system of deriving multiple keys from a single starting point known as a seed. ^{Source + Source}
PROOF-OF-WORK	a proof of work is a piece of data which is easy for others to verify and which satisfies certain requirements. is difficult (costly, time-consuming) to produce.^{Source + Source}
SMART CONTRACTS	smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.^{Source + Source}

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