FORK - ASIC - SPV - CRYPTOCURRENCY -

megan.brown (48)in #cryptocurrency • 6 years ago


FORK	cryptocurrencies are representations of digital assets. also known as tokens. ^{Source + Source}
ASIC	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}
SPV	often compared to gpus, asics are specially made for mining and may offer significant power savings. short form for ‘application specific integrated circuit’. ^{Source + Source}
CRYPTOCURRENCY	this allows mobile clients to make payments without needing a copy of the entire blockchain. acronym for “simplified payment verification”.^{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}
ASIC	often compared to gpus, asics are specially made for mining and may offer significant power savings. short form for ‘application specific integrated circuit’. ^{Source + Source}
SPV	this allows mobile clients to make payments without needing a copy of the entire blockchain. acronym for “simplified payment verification”.^{Source + Source}
CRYPTOCURRENCY	cryptocurrencies are representations of digital assets. also known as tokens. ^{Source + Source}

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