SIDECHAIN - SPV - MINING POOL - MINER -

in #money6 years ago


SIDECHAIN
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. Source + Source
SPV
this allows mobile clients to make payments without needing a copy of the entire blockchain. acronym for “simplified payment verification”.Source + Source
MINING POOL
these can have their own unique features and can have bitcoins sent to and from them. these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain. Source + Source
MINER
a cryptocurrency needs some kind of mechanism to prevent one ruling party from abusing it. a miner has the right to add a so-called coinbase transaction that gives him a specific number of bitcoins. a miner can build a block and add it to the blockchain. Source + Source


SIDECHAIN
these can have their own unique features and can have bitcoins sent to and from them. these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain. Source + Source
SPV
this allows mobile clients to make payments without needing a copy of the entire blockchain. acronym for “simplified payment verification”.Source + Source
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. Source + Source
MINER
a cryptocurrency needs some kind of mechanism to prevent one ruling party from abusing it. a miner has the right to add a so-called coinbase transaction that gives him a specific number of bitcoins. a miner can build a block and add it to the blockchain. Source + Source

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