BITCOIN PROTOCOL - SMART CONTRACT - PUBLIC/PRIVATE KEY - SIDECHAIN -

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


BITCOIN PROTOCOL	another party can then receive the message and using a key that is only known to that individual or group, decode the message. in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. ^{Source + Source}
SMART CONTRACT	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}
PUBLIC/PRIVATE KEY	a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. once signed it can never be altered. a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. ^{Source + Source}
SIDECHAIN	protocol to set the “rules” for how the network runs. the open source, cryptographic protocol which operates on the bitcoin network.^{Source + Source}


BITCOIN PROTOCOL	protocol to set the “rules” for how the network runs. the open source, cryptographic protocol which operates on the bitcoin network.^{Source + Source}
SMART CONTRACT	a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. once signed it can never be altered. a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. ^{Source + Source}
PUBLIC/PRIVATE KEY	another party can then receive the message and using a key that is only known to that individual or group, decode the message. in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. ^{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}

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