BITCOIN TRANSACTION - CRYPTOGRAPHIC HASH FUNCTION - CONFIRMATION - PROOF OF STAKE -

rssniper (49)in #money • 6 years ago


BITCOIN TRANSACTION	this is a successful act of where the transaction has hashed and added to the blockchain.^{Source + Source}
CRYPTOGRAPHIC HASH FUNCTION	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}
CONFIRMATION	the sha-256 computational algorithm is an example of a cryptographic hash. cryptographic hashes produce a fixed-size and unique hash value from variable-size transaction input. ^{Source + Source}
PROOF OF STAKE	the more you invest in the coin, the more you gain by mining with this protocol. a consensus distribution algorithm that rewards earnings based on the number of coins you own or hold. ^{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}
CRYPTOGRAPHIC HASH FUNCTION	the sha-256 computational algorithm is an example of a cryptographic hash. cryptographic hashes produce a fixed-size and unique hash value from variable-size transaction input. ^{Source + Source}
CONFIRMATION	this is a successful act of where the transaction has hashed and added to the blockchain.^{Source + Source}
PROOF OF STAKE	the more you invest in the coin, the more you gain by mining with this protocol. a consensus distribution algorithm that rewards earnings based on the number of coins you own or hold. ^{Source + Source}

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