Post by kmstfatema on Mar 9, 2024 3:02:50 GMT -5
Whether you are a novice miner , an entrepreneur interested in implementing blockchain in your products or services, or are preparing to launch a blockchain-based project, a glossary of terms may be useful to help you better understand the world of this disruptive technology and best conduct your blockchain marketing strategy . The aim is to provide essential knowledge of how blockchain works , even on a more technical level. A – B – C – D – E – F – W Download-ebook-blockchain-marketing TO Addresses Cryptocurrency addresses are used to receive and send transactions on the network . An address is a string of alphanumeric characters, but can also be represented as a scannable QR code .
They are like the bank details of a common current Germany Telegram Number Data account . Agreement ledgers Agreement ledgers are distributed ledgers used by two or more parties to negotiate and reach an agreement. Altcoins Altcoin is the commonly accepted term for all cryptocurrencies that are not Bitcoin (the term is in fact short for “alternative Bitcoin”). Currently, most altcoins are derived from forks of Bitcoin, which usually changes little in the Proof Of Work (POW) algorithm of its blockchain. The largest altcoin is currently Litecoin : this introduces changes to the original Bitcoin protocol, such as reduced block generation times, increased maximum coin count and different hashing algorithms. Attestation Ledgers They are distributed registers that provide a lasting record of agreements , orders or sentences, providing evidence (attestation) that these have been made. ASIC An “Application Specific Integrated Circuit” is a silicon chip designed specifically to perform a single function .
In the case of Bitcoin, the chips process SHA256 hashing problems to mine new Bitcoins. ASICs are considered much more efficient than conventional hardware (CPU, GPU), as using a common computer to mine Bitcoin is not profitable and only results in higher electricity bills. Dictionary-blockchain-quote1 Return to alphabetical index B Bitcoin Bitcoin is the best-known cryptocurrency and the first created , based on the Proof of Work blockchain, which has these characteristics: Decentralized Open source Active on a global peer to peer network Uncontrollable Without intermediaries or centralized suppliers Usable by anyone with a computer or smartphone Bitcoin ATM A place where people can exchange fiat currency and bitcoins . Blockchain A blockchain is a type of distributed, decentralized ledger that includes immutable data stored digitally in blocks.
They are like the bank details of a common current Germany Telegram Number Data account . Agreement ledgers Agreement ledgers are distributed ledgers used by two or more parties to negotiate and reach an agreement. Altcoins Altcoin is the commonly accepted term for all cryptocurrencies that are not Bitcoin (the term is in fact short for “alternative Bitcoin”). Currently, most altcoins are derived from forks of Bitcoin, which usually changes little in the Proof Of Work (POW) algorithm of its blockchain. The largest altcoin is currently Litecoin : this introduces changes to the original Bitcoin protocol, such as reduced block generation times, increased maximum coin count and different hashing algorithms. Attestation Ledgers They are distributed registers that provide a lasting record of agreements , orders or sentences, providing evidence (attestation) that these have been made. ASIC An “Application Specific Integrated Circuit” is a silicon chip designed specifically to perform a single function .
In the case of Bitcoin, the chips process SHA256 hashing problems to mine new Bitcoins. ASICs are considered much more efficient than conventional hardware (CPU, GPU), as using a common computer to mine Bitcoin is not profitable and only results in higher electricity bills. Dictionary-blockchain-quote1 Return to alphabetical index B Bitcoin Bitcoin is the best-known cryptocurrency and the first created , based on the Proof of Work blockchain, which has these characteristics: Decentralized Open source Active on a global peer to peer network Uncontrollable Without intermediaries or centralized suppliers Usable by anyone with a computer or smartphone Bitcoin ATM A place where people can exchange fiat currency and bitcoins . Blockchain A blockchain is a type of distributed, decentralized ledger that includes immutable data stored digitally in blocks.