MEDIUM OF EXCHANGE - RIPPLE - PEER TO PEER - HOT WALLET -

in #steem6 years ago


MEDIUM OF EXCHANGE
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
RIPPLE
fiat currencies are the generally accepted mediums of exchange. their most important and essential function is to provide a measure of value. is an intermediary used in trade to avoid the inconveniences of a pure barter system. Source + Source
PEER TO PEER
payments are made using a series of ious, and the network is based on trust relationships. the network consists of payment nodes and gateways operated by authorities. is a payment network built on distributed ledgers that can be used to transfer any currency. 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


MEDIUM OF EXCHANGE
fiat currencies are the generally accepted mediums of exchange. their most important and essential function is to provide a measure of value. is an intermediary used in trade to avoid the inconveniences of a pure barter system. Source + Source
RIPPLE
payments are made using a series of ious, and the network is based on trust relationships. the network consists of payment nodes and gateways operated by authorities. is a payment network built on distributed ledgers that can be used to transfer any currency. 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
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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