CONFIRMATION - PROOF OF WORK - DIGITAL SIGNATURE - FORK -

realskilled (47)in #steem • 6 years ago


CONFIRMATION	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}
PROOF OF WORK	is generated by public key encryption that is attached to an electronically transmitted document to verify its contents and the sender’s identity. is a digital code. ^{Source + Source}
DIGITAL SIGNATURE	it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. a split in the blockchain where there are temporarily two different blockchains which miners can work on. (this change is called a “hard fork”.) these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. ^{Source + Source}
FORK	this is a successful act of where the transaction has hashed and added to the blockchain.^{Source + Source}


CONFIRMATION	this is a successful act of where the transaction has hashed and added to the blockchain.^{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}
DIGITAL SIGNATURE	is generated by public key encryption that is attached to an electronically transmitted document to verify its contents and the sender’s identity. is a digital code. ^{Source + Source}
FORK	it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. a split in the blockchain where there are temporarily two different blockchains which miners can work on. (this change is called a “hard fork”.) these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. ^{Source + Source}

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