IRREVERSIBLE - PROOF-OF-WORK - PEER TO PEER - DISTRIBUTED LEDGER -

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


IRREVERSIBLE	a proof of work is a piece of data which is easy for others to verify and which satisfies certain requirements. is difficult (costly, time-consuming) to produce.^{Source + Source}
PROOF-OF-WORK	participants of a p2p network deal directly with each other through a single mediation point. peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected network. ^{Source + Source}
PEER TO PEER	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody. ^{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}


IRREVERSIBLE	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody. ^{Source + Source}
PROOF-OF-WORK	a proof of work is a piece of data which is easy for others to verify and which satisfies certain requirements. is difficult (costly, time-consuming) to produce.^{Source + Source}
PEER TO PEER	participants of a p2p network deal directly with each other through a single mediation point. peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected 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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