ALTCOINS - PAPER WALLET - BIP148 - DISTRIBUTED LEDGER - HOT WALLET - PROOF OF WORK - MINING POOL - CONSENSUS - SMART CONTRACTS - EXCHANGE RATE -

matthew.davis (49)in #money • 8 years ago

ALTCOINS all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
PAPER WALLET a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes.
BIP148 these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative.
DISTRIBUTED LEDGER a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining.
HOT WALLET the exchange rate is based on two things; how it compares to a traditional currency, or how it stacks up against another type of cryptocurrency. cryptocurrency does not have this issue as it is digital. however, this is normally, money issued by the government, such as the dollar, will have a fluid exchange rate based on the country it is spent in.
PROOF OF WORK smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.
MINING POOL the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity.
CONSENSUS 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.
SMART CONTRACTS the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
EXCHANGE RATE it was designed to cause the existing segwit masf deployment to cause activation in all existing segwit capable node software. currently is 80% of the network nodes. bip148 is a user activated soft fork - uasf.
Source + Source


ALTCOINS	all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
PAPER WALLET	a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes.
BIP148	these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative.
DISTRIBUTED LEDGER	a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining.
HOT WALLET	the exchange rate is based on two things; how it compares to a traditional currency, or how it stacks up against another type of cryptocurrency. cryptocurrency does not have this issue as it is digital. however, this is normally, money issued by the government, such as the dollar, will have a fluid exchange rate based on the country it is spent in.
PROOF OF WORK	smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.
MINING POOL	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity.
CONSENSUS	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.
SMART CONTRACTS	the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
EXCHANGE RATE	it was designed to cause the existing segwit masf deployment to cause activation in all existing segwit capable node software. currently is 80% of the network nodes. bip148 is a user activated soft fork - uasf.

ALTCOINS these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative.
PAPER WALLET all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
BIP148 it was designed to cause the existing segwit masf deployment to cause activation in all existing segwit capable node software. currently is 80% of the network nodes. bip148 is a user activated soft fork - uasf.
DISTRIBUTED LEDGER a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes.
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.
PROOF OF WORK the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity.
MINING POOL a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining.
CONSENSUS the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
SMART CONTRACTS smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.
EXCHANGE RATE the exchange rate is based on two things; how it compares to a traditional currency, or how it stacks up against another type of cryptocurrency. cryptocurrency does not have this issue as it is digital. however, this is normally, money issued by the government, such as the dollar, will have a fluid exchange rate based on the country it is spent in.
Source + Source


ALTCOINS	these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency. a name coined as the merger of the words bitcoin & alternative.
PAPER WALLET	all traces of the key are removed from the computer where it was generated. a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption).
BIP148	it was designed to cause the existing segwit masf deployment to cause activation in all existing segwit capable node software. currently is 80% of the network nodes. bip148 is a user activated soft fork - uasf.
DISTRIBUTED LEDGER	a distributed ledger does not have to have its own currency. may be permissioned and private. distributed ledgers are ledgers in which data is stored across a network of decentralized nodes.
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.
PROOF OF WORK	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity.
MINING POOL	a way to allows the rewards to be distributed more consistently between participants in the pool. a group of miners who have decided to combine their computing power for mining.
CONSENSUS	the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions.
SMART CONTRACTS	smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.
EXCHANGE RATE	the exchange rate is based on two things; how it compares to a traditional currency, or how it stacks up against another type of cryptocurrency. cryptocurrency does not have this issue as it is digital. however, this is normally, money issued by the government, such as the dollar, will have a fluid exchange rate based on the country it is spent in.

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