BLOCK REWARD - POOL - SMART CONTRACT - LIGHTNING NETWORK -

in #cryptocurrency6 years ago


BLOCK REWARD
verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during mining. Source + Source
POOL
this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants. Source + Source
SMART CONTRACT
mining pools are a useful way to increase your probability of successfully mining a block as the difficulty rises. a collection of mining clients which collectively mine a block, and then split the reward between them. Source + Source
LIGHTNING NETWORK
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


BLOCK REWARD
verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded by a portion of those. a form of incentive for the miner who successfully calculated the hash in a block during mining. Source + Source
POOL
mining pools are a useful way to increase your probability of successfully mining a block as the difficulty rises. a collection of mining clients which collectively mine a block, and then split the reward between them. 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
LIGHTNING NETWORK
this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants. Source + Source

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