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| TRANSACTION FEE | this refers to how easily a data block of transaction information can be mined successfully. |
| SEGWIT2X | a soft fork differs from a hard fork in that only previously valid transactions are made invalid. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. 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. |
| DIFFICULTY | is a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin’s gold. |
| LITECOIN | a type of fork that renders previously invalid transactions valid, and vice versa. this type of fork requires all nodes and users to upgrade to the latest version of the protocol software. |
| PROOF- OF- STAKE (POS) | block explorer is an online tool to view all transactions, past and current, on the blockchain. they provide useful information such as network hash rate and transaction growth. |
| BLOCK | all cryptocurrency transactions involve a small transaction fee. these transaction fees add up to account for the block reward that a miner receives when he successfully processes a block. |
| SOFT FORK | blocks are packages of data that carry permanently recorded data on the blockchain network. |
| BLOCK EXPLORER | also knows as the 'the new york agreement' is proposed as a way to end bitcoin’s ‘scaling debate’ and was said to be a compromise between the two sides of the debate — those who want to achieve scaling through segregated witness (segwit) and those who prefer to scale by increasing the block size. it consists of two sequential phases — to activate segwit using bip 91 (making it compatible with the uasf) and then to hard fork the base block size to 2 mb ninety days later. |
| FIAT CURRENCY | is any money declared by a government to be to be valid for meeting a financial obligation, like usd, eur or cny |
| HARD FORK | concept states that a person can mine or validate block transactions according to how many coins he or she holds. this means that the more bitcoin or altcoin owned by a miner, the more mining power he or she has. |
| |  |
| TRANSACTION FEE | all cryptocurrency transactions involve a small transaction fee. these transaction fees add up to account for the block reward that a miner receives when he successfully processes a block. |
| SEGWIT2X | also knows as the 'the new york agreement' is proposed as a way to end bitcoin’s ‘scaling debate’ and was said to be a compromise between the two sides of the debate — those who want to achieve scaling through segregated witness (segwit) and those who prefer to scale by increasing the block size. it consists of two sequential phases — to activate segwit using bip 91 (making it compatible with the uasf) and then to hard fork the base block size to 2 mb ninety days later. |
| DIFFICULTY | this refers to how easily a data block of transaction information can be mined successfully. |
| LITECOIN | is a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin’s gold. |
| PROOF- OF- STAKE (POS) | concept states that a person can mine or validate block transactions according to how many coins he or she holds. this means that the more bitcoin or altcoin owned by a miner, the more mining power he or she has. |
| BLOCK | blocks are packages of data that carry permanently recorded data on the blockchain network. |
| SOFT FORK | a soft fork differs from a hard fork in that only previously valid transactions are made invalid. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. 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. |
| BLOCK EXPLORER | block explorer is an online tool to view all transactions, past and current, on the blockchain. they provide useful information such as network hash rate and transaction growth. |
| FIAT CURRENCY | is any money declared by a government to be to be valid for meeting a financial obligation, like usd, eur or cny |
| HARD FORK | a type of fork that renders previously invalid transactions valid, and vice versa. this type of fork requires all nodes and users to upgrade to the latest version of the protocol software. |
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