SCRYPT - HOT WALLET - PRIVATE KEY - PEER TO PEER -

rstracer (48)in #money • 7 years ago


SCRYPT	they act as passwords that are kept hidden from anyone but the owner of the address. a private key is a string of data that allows you to access the tokens in a specific wallet. ^{^{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}}
PRIVATE KEY	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}}
PEER TO PEER	participants of a p2p network deal directly with each other through a single mediation point. peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected network. ^{^{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}}
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}}
PRIVATE KEY	they act as passwords that are kept hidden from anyone but the owner of the address. a private key is a string of data that allows you to access the tokens in a specific wallet. ^{^{Source + Source}}
PEER TO PEER	participants of a p2p network deal directly with each other through a single mediation point. peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected network. ^{^{Source + Source}}

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