BITCOIN (UNIT OF CURRENCY) - KYC - LIQUIDITY - FORK -

realskilled (47)in #cryptocurrency • 7 years ago


BITCOIN (UNIT OF CURRENCY)	know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.^{^{Source + Source}}
KYC	bitcoin functions as a reserve currency for the altcoin ecosystem. a unit of the decentralized, digital currency which can be traded for goods and services. 100,000,000 satoshis. ^{^{Source + Source}}
LIQUIDITY	the result of an illiquid market is price volatility, and the inability to easily determine the value of an asset. a suitably large community of buyers and sellers is important for liquidity. the ability to buy and sell an asset easily, with pricing that stays roughly similar between trades. ^{^{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}}


BITCOIN (UNIT OF CURRENCY)	bitcoin functions as a reserve currency for the altcoin ecosystem. a unit of the decentralized, digital currency which can be traded for goods and services. 100,000,000 satoshis. ^{^{Source + Source}}
KYC	know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.^{^{Source + Source}}
LIQUIDITY	the result of an illiquid market is price volatility, and the inability to easily determine the value of an asset. a suitably large community of buyers and sellers is important for liquidity. the ability to buy and sell an asset easily, with pricing that stays roughly similar between trades. ^{^{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}}

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