FORK - SEGWIT (SEGREGATED WITNESS) - DESKTOP WALLET - MIXING SERVICE -

in #cryptocurrency • 6 years ago


FORK
it has the potential to be used for money laundering. a mixing service (also known as a tumbler) preserves your privacy because it stops people tracing a particular bitcoin to you. a service that mixes your bitcoins with someone else’s, sending you back bitcoins with different inputs and outputs from the ones that you sent to it. Source + Source
SEGWIT (SEGREGATED WITNESS)
allow the spending and management of your bitcoins. a wallet that stores the private keys on your computer. Source + Source
DESKTOP WALLET
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
MIXING SERVICE
specifically, it also removes transaction malleability, an issue that once resolved could lead to a number of network improvements. an optimization proposed by bitcoin core developer pieter wuille at the end of 2015, segwit increases the volume of transactions that fit into each block without raising the block size parameter. 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
SEGWIT (SEGREGATED WITNESS)
specifically, it also removes transaction malleability, an issue that once resolved could lead to a number of network improvements. an optimization proposed by bitcoin core developer pieter wuille at the end of 2015, segwit increases the volume of transactions that fit into each block without raising the block size parameter. Source + Source
DESKTOP WALLET
allow the spending and management of your bitcoins. a wallet that stores the private keys on your computer. Source + Source
MIXING SERVICE
it has the potential to be used for money laundering. a mixing service (also known as a tumbler) preserves your privacy because it stops people tracing a particular bitcoin to you. a service that mixes your bitcoins with someone else’s, sending you back bitcoins with different inputs and outputs from the ones that you sent to it. Source + Source

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