CRYPTOGRAPHY - BITCOIN TRANSACTION - BLOCK TIMESTAMP - KYC -

rssniper (49)in #steem • 6 years ago


CRYPTOGRAPHY	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{Source + Source}
BITCOIN TRANSACTION	they help to make it more difficult for someone else to manipulate the blockchain. each block contains a timestamp in unix format. ^{Source + Source}
BLOCK TIMESTAMP	know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.^{Source + Source}
KYC	it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. cryptocurrencies are not secured by people or by trust, but by math. cryptocurrencies are built on cryptography. is the practice and study of techniques for secure communication in the presence of third parties called adversaries.^{Source + Source}


CRYPTOGRAPHY	it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. cryptocurrencies are not secured by people or by trust, but by math. cryptocurrencies are built on cryptography. is the practice and study of techniques for secure communication in the presence of third parties called adversaries.^{Source + Source}
BITCOIN TRANSACTION	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{Source + Source}
BLOCK TIMESTAMP	they help to make it more difficult for someone else to manipulate the blockchain. each block contains a timestamp in unix format. ^{Source + Source}
KYC	know your client/customer rules force financial institutions, in order ensuring that they are legitimate, to vet the people they are doing business with.^{Source + Source}

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