SOFT FORK - QR CODE - MULTI-SIGNATURE - HOT WALLET -

madison.gagnon (38)in #money • 6 years ago


SOFT FORK	qr codes are similar to barcodes found on physical products in that they are a machine-friendly way to embody a piece of data. a digital representation of a bitcoin public or private key that is easy to scan by digital cameras. ^{Source + Source}
QR CODE	multi-signature addresses provide (by requiring more than one key to authorize a transaction) an added layer of security.^{Source + Source}
MULTI-SIGNATURE	this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. a soft fork differs from a hard fork in that only previously valid transactions are made invalid. ^{Source + Source}
HOT WALLET	these are used for “every day” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. a bitcoin wallet that has an active connection to the internet. ^{Source + Source}


SOFT FORK	this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. a soft fork differs from a hard fork in that only previously valid transactions are made invalid. ^{Source + Source}
QR CODE	qr codes are similar to barcodes found on physical products in that they are a machine-friendly way to embody a piece of data. a digital representation of a bitcoin public or private key that is easy to scan by digital cameras. ^{Source + Source}
MULTI-SIGNATURE	multi-signature addresses provide (by requiring more than one key to authorize a transaction) an added layer of security.^{Source + Source}
HOT WALLET	these are used for “every day” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. a bitcoin wallet that has an active connection to the internet. ^{Source + Source}

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