SCRYPT - BITCOIN TRANSACTION - BIP148 - HOT WALLET -

rspower (48)in #money • 7 years ago


SCRYPT	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{^{Source + Source}}
BITCOIN TRANSACTION	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}}
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. ^{^{Source + Source}}
HOT WALLET	compared to sha256, this is quicker as it does not use up as much processing time. scrypt is a type of cryptographic algorithm and is used by litecoin. ^{^{Source + Source}}


SCRYPT	compared to sha256, this is quicker as it does not use up as much processing time. scrypt is a type of cryptographic algorithm and is used by litecoin. ^{^{Source + Source}}
BITCOIN TRANSACTION	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{^{Source + Source}}
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. ^{^{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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