NODE - CONSENSUS - BITCOIN (UNIT OF CURRENCY) - BITCOIN TRANSACTION - DOGECOIN - MINING - TESTNET - CRYPTOGRAPHY - LIGHTNING NETWORK - CONFIRMATION -

realskilled (47)in #cryptocurrency • 6 years ago

NODE 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.
CONSENSUS gained a broad international following and quickly grew to have a multi-million dollar market capitalization. features a japanese fighting dog as its mascot. an altcoin first started as a joke in late 2013.
BITCOIN (UNIT OF CURRENCY) it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. cryptocurrencies are not secured by people or by trust, but by math. cryptocurrencies are built on cryptography. is the practice and study of techniques for secure communication in the presence of third parties called adversaries.
BITCOIN TRANSACTION this is a successful act of where the transaction has hashed and added to the blockchain.
DOGECOIN used by developers, it's a test blockchain to prevent expending assets on the main chain.
MINING as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.
TESTNET this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.
CRYPTOGRAPHY a node supports the network through validation and relaying of transactions while receiving a copy of the full blockchain itself. a node is essentially a computer connected to cryptocurrency network. a copy of the ledger operated by a participant of the blockchain network.
LIGHTNING NETWORK the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
CONFIRMATION by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. in this cryptocurrency boom, mining can be a lucrative business when done properly. the necessity of validation warrants an incentive for the miners, usually in the form of coins. mining is the act of validating blockchain transactions.
Source + Source


NODE	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.
CONSENSUS	gained a broad international following and quickly grew to have a multi-million dollar market capitalization. features a japanese fighting dog as its mascot. an altcoin first started as a joke in late 2013.
BITCOIN (UNIT OF CURRENCY)	it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. cryptocurrencies are not secured by people or by trust, but by math. cryptocurrencies are built on cryptography. is the practice and study of techniques for secure communication in the presence of third parties called adversaries.
BITCOIN TRANSACTION	this is a successful act of where the transaction has hashed and added to the blockchain.
DOGECOIN	used by developers, it's a test blockchain to prevent expending assets on the main chain.
MINING	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.
TESTNET	this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.
CRYPTOGRAPHY	a node supports the network through validation and relaying of transactions while receiving a copy of the full blockchain itself. a node is essentially a computer connected to cryptocurrency network. a copy of the ledger operated by a participant of the blockchain network.
LIGHTNING NETWORK	the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
CONFIRMATION	by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. in this cryptocurrency boom, mining can be a lucrative business when done properly. the necessity of validation warrants an incentive for the miners, usually in the form of coins. mining is the act of validating blockchain transactions.

NODE a node supports the network through validation and relaying of transactions while receiving a copy of the full blockchain itself. a node is essentially a computer connected to cryptocurrency network. a copy of the ledger operated by a participant of the blockchain network.
CONSENSUS the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
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.
BITCOIN TRANSACTION as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.
DOGECOIN gained a broad international following and quickly grew to have a multi-million dollar market capitalization. features a japanese fighting dog as its mascot. an altcoin first started as a joke in late 2013.
MINING by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. in this cryptocurrency boom, mining can be a lucrative business when done properly. the necessity of validation warrants an incentive for the miners, usually in the form of coins. mining is the act of validating blockchain transactions.
TESTNET used by developers, it's a test blockchain to prevent expending assets on the main chain.
CRYPTOGRAPHY it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. cryptocurrencies are not secured by people or by trust, but by math. cryptocurrencies are built on cryptography. is the practice and study of techniques for secure communication in the presence of third parties called adversaries.
LIGHTNING NETWORK this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.
CONFIRMATION this is a successful act of where the transaction has hashed and added to the blockchain.
Source + Source


NODE	a node supports the network through validation and relaying of transactions while receiving a copy of the full blockchain itself. a node is essentially a computer connected to cryptocurrency network. a copy of the ledger operated by a participant of the blockchain network.
CONSENSUS	the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
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.
BITCOIN TRANSACTION	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.
DOGECOIN	gained a broad international following and quickly grew to have a multi-million dollar market capitalization. features a japanese fighting dog as its mascot. an altcoin first started as a joke in late 2013.
MINING	by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. in this cryptocurrency boom, mining can be a lucrative business when done properly. the necessity of validation warrants an incentive for the miners, usually in the form of coins. mining is the act of validating blockchain transactions.
TESTNET	used by developers, it's a test blockchain to prevent expending assets on the main chain.
CRYPTOGRAPHY	it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. cryptocurrencies are not secured by people or by trust, but by math. cryptocurrencies are built on cryptography. is the practice and study of techniques for secure communication in the presence of third parties called adversaries.
LIGHTNING NETWORK	this protocol tries to solve the bitcoin scalability problem. the lightning network will allow bitcoin transactions to happen instantly, without worrying about block confirmation times. it's a decentralized network using smart contract functionality on the blockchain to enable instant payments across a network of participants.
CONFIRMATION	this is a successful act of where the transaction has hashed and added to the blockchain.

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