AML - SMART CONTRACT - SCRYPT - POOL -

realskilled (47)in #cryptocurrency • 6 years ago


AML	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}
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}
SCRYPT	aml mechanisms can be legal or technical in nature. regulators frequently apply aml techniques to bitcoin exchanges. anti-money laundering techniques are used to stop people converting illegally obtained funds, to appear as though they have been earned legally. ^{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}


AML	aml mechanisms can be legal or technical in nature. regulators frequently apply aml techniques to bitcoin exchanges. anti-money laundering techniques are used to stop people converting illegally obtained funds, to appear as though they have been earned legally. ^{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}
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}
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}

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