FORK - MT GOX - DECENTRALIZED - ASYMMETRIC KEY ALGORITHM -

in #money6 years ago


FORK
public and private keys are needed to support cryptocurrency transactions. both sender and receiver have this key, and can send secure information. the algorithm used to generate public and private keys. Source + Source
MT GOX
based in japan, the exchange was started by jed mccaleb in 2010. mt. gox has since gone into administration. one of the first bitcoin exchanges, and at one time the most popular. Source + Source
DECENTRALIZED
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
ASYMMETRIC KEY ALGORITHM
means that the currency isn’t issued or regulated by a centralized authority. such as a bank or government. a common term in cryptocurrency.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
MT GOX
based in japan, the exchange was started by jed mccaleb in 2010. mt. gox has since gone into administration. one of the first bitcoin exchanges, and at one time the most popular. Source + Source
DECENTRALIZED
means that the currency isn’t issued or regulated by a centralized authority. such as a bank or government. a common term in cryptocurrency.Source + Source
ASYMMETRIC KEY ALGORITHM
public and private keys are needed to support cryptocurrency transactions. both sender and receiver have this key, and can send secure information. the algorithm used to generate public and private keys. Source + Source

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