ALTCOINS - HOT WALLET - HASH - MIXING SERVICE -

ali.wood (49)in #cryptocurrency • 6 years ago


ALTCOINS	these are used for “every day” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. a bitcoin wallet that has an active connection to the internet. ^{Source + Source}
HOT WALLET	it has the potential to be used for money laundering. a mixing service (also known as a tumbler) preserves your privacy because it stops people tracing a particular bitcoin to you. a service that mixes your bitcoins with someone else’s, sending you back bitcoins with different inputs and outputs from the ones that you sent to it. ^{Source + Source}
HASH	these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative. ^{Source + Source}
MIXING SERVICE	this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data. ^{Source + Source}


ALTCOINS	these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative. ^{Source + Source}
HOT WALLET	these are used for “every day” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. a bitcoin wallet that has an active connection to the internet. ^{Source + Source}
HASH	this is a random and complex mathematical formula used in the verification of blocks of transaction data in the process known as mining. this is used for confirming coin transactions. the act of performing a hash function on the output data. ^{Source + Source}
MIXING SERVICE	it has the potential to be used for money laundering. a mixing service (also known as a tumbler) preserves your privacy because it stops people tracing a particular bitcoin to you. a service that mixes your bitcoins with someone else’s, sending you back bitcoins with different inputs and outputs from the ones that you sent to it. ^{Source + Source}

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