HARD FORK - MINING POOL - FORK - DISTRIBUTED LEDGER -

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


HARD FORK	a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining. ^{^{Source + Source}}
MINING POOL	a type of fork that requires all nodes and users to upgrade to the latest version of the protocol software and that renders previously invalid transactions valid, and vice versa. ^{^{Source + Source}}
FORK	a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. ^{^{Source + Source}}
DISTRIBUTED LEDGER	it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. a split in the blockchain where there are temporarily two different blockchains which miners can work on. (this change is called a “hard fork”.) these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. ^{^{Source + Source}}


HARD FORK	a type of fork that requires all nodes and users to upgrade to the latest version of the protocol software and that renders previously invalid transactions valid, and vice versa. ^{^{Source + Source}}
MINING POOL	a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining. ^{^{Source + Source}}
FORK	it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. a split in the blockchain where there are temporarily two different blockchains which miners can work on. (this change is called a “hard fork”.) these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. ^{^{Source + Source}}
DISTRIBUTED LEDGER	a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. ^{^{Source + Source}}

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