TRANSACTION FEE - TRANSACTION BLOCK - BITCOIN - PROOF-OF-WORK -

in #money6 years ago


TRANSACTION FEE
a proof of work is a piece of data which is easy for others to verify and which satisfies certain requirements. is difficult (costly, time-consuming) to produce.Source + Source
TRANSACTION BLOCK
gathered into a block, it's a collection of transactions that can then be added and hashed to the blockchain.Source + Source
BITCOIN
bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer. strictly, bitcoin with a capital “b” refers to the protocol & the network, whilst bitcoin with a lowercase “b” is the currency. bitcoin can refer to the protocol, network or the unit of currency. Source + Source
PROOF-OF-WORK
the transaction fees add up to account for the block reward that a miner receives when he successfully processes a block. all cryptocurrency transactions involve a small transaction fee. Source + Source


TRANSACTION FEE
the transaction fees add up to account for the block reward that a miner receives when he successfully processes a block. all cryptocurrency transactions involve a small transaction fee. Source + Source
TRANSACTION BLOCK
gathered into a block, it's a collection of transactions that can then be added and hashed to the blockchain.Source + Source
BITCOIN
bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer. strictly, bitcoin with a capital “b” refers to the protocol & the network, whilst bitcoin with a lowercase “b” is the currency. bitcoin can refer to the protocol, network or the unit of currency. Source + Source
PROOF-OF-WORK
a proof of work is a piece of data which is easy for others to verify and which satisfies certain requirements. is difficult (costly, time-consuming) to produce.Source + Source

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