DAO - MIXING SERVICE - SOFT FORK - SCRYPT -

ali.wood (49)in #cryptocurrency • 7 years ago


DAO	compared to sha256, this is quicker as it does not use up as much processing time. scrypt is a type of cryptographic algorithm and is used by litecoin. ^{^{Source + Source}}
MIXING SERVICE	also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules. ^{^{Source + Source}}
SOFT FORK	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}}
SCRYPT	this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. a soft fork differs from a hard fork in that only previously valid transactions are made invalid. ^{^{Source + Source}}


DAO	also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules. ^{^{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}}
SOFT FORK	this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. a soft fork differs from a hard fork in that only previously valid transactions are made invalid. ^{^{Source + Source}}
SCRYPT	compared to sha256, this is quicker as it does not use up as much processing time. scrypt is a type of cryptographic algorithm and is used by litecoin. ^{^{Source + Source}}

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