FORK - LIGHTNING NETWORK - BIP - APPLICATION SPECIFIC INTEGRATED CIRCUIT (ASIC) -

ali.wood (49)in #money • 6 years ago


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}
LIGHTNING NETWORK	a chip created for mining data blocks. a specific computer chip which has been created for the sole purpose of. ^{Source + Source}
BIP	can be submitted by anyone who wants to improve the bitcoin network. an acronym for “bitcoin improvement proposals”. ^{Source + Source}
APPLICATION SPECIFIC INTEGRATED CIRCUIT (ASIC)	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. ^{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}
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. ^{Source + Source}
BIP	can be submitted by anyone who wants to improve the bitcoin network. an acronym for “bitcoin improvement proposals”. ^{Source + Source}
APPLICATION SPECIFIC INTEGRATED CIRCUIT (ASIC)	a chip created for mining data blocks. a specific computer chip which has been created for the sole purpose of. ^{Source + Source}

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