BLOCK - IRREVERSIBLE - WALLET - SOFT FORK -

megan.brown (48)in #money • 7 years ago


BLOCK	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}}
IRREVERSIBLE	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody. ^{^{Source + Source}}
WALLET	it usually contains a software client which allows access to view and create transactions on a specific blockchain that the wallet is designed for. a file that houses private keys. ^{^{Source + Source}}
SOFT FORK	they carry permanently recorded data on the blockchain network. blocks are packages of data. ^{^{Source + Source}}


BLOCK	they carry permanently recorded data on the blockchain network. blocks are packages of data. ^{^{Source + Source}}
IRREVERSIBLE	there is no safety net for that situation. after confirmation, a transaction is unable to be reversed by nobody. ^{^{Source + Source}}
WALLET	it usually contains a software client which allows access to view and create transactions on a specific blockchain that the wallet is designed for. a file that houses private keys. ^{^{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}}

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