PUBLIC/PRIVATE KEY - DECENTRALIZED - PROOF OF WORK - PEER TO PEER -

megan.brown (48)in #steem • 7 years ago


PUBLIC/PRIVATE KEY	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity. ^{^{Source + Source}}
DECENTRALIZED	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}}
PROOF OF WORK	another party can then receive the message and using a key that is only known to that individual or group, decode the message. in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. ^{^{Source + Source}}
PEER TO PEER	means that the currency isn’t issued or regulated by a centralized authority. such as a bank or government. a common term in cryptocurrency.^{^{Source + Source}}


PUBLIC/PRIVATE KEY	another party can then receive the message and using a key that is only known to that individual or group, decode the message. in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. ^{^{Source + Source}}
DECENTRALIZED	means that the currency isn’t issued or regulated by a centralized authority. such as a bank or government. a common term in cryptocurrency.^{^{Source + Source}}
PROOF OF WORK	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity. ^{^{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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