LITECOIN - CONSENSUS - SMART CONTRACT - SEGWIT2X -

realskilled (47)in #steem • 6 years ago


LITECOIN	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. 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. also knows as the 'the new york agreement'. ^{^{Source + Source}}
CONSENSUS	sometimes referred to as the silver of bitcoin’s gold. it's a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. ^{^{Source + Source}}
SMART CONTRACT	the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions. ^{^{Source + Source}}
SEGWIT2X	a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. once signed it can never be altered. a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. ^{^{Source + Source}}


LITECOIN	sometimes referred to as the silver of bitcoin’s gold. it's a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. ^{^{Source + Source}}
CONSENSUS	the consensus is achieved by ensuring that the ledgers are exact copies of each other and all participants of the network agree on the validity of the transactions. ^{^{Source + Source}}
SMART CONTRACT	a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. once signed it can never be altered. a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. ^{^{Source + Source}}
SEGWIT2X	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. 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. also knows as the 'the new york agreement'. ^{^{Source + Source}}

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