what is protocols?-Definition of all finance terms

What is Protocols?

Definition of Protocols Protocols are a set or bunch of rules and procedures that allow data communication between entities in a network. In the cryptocurrency world, property such as digital money or commodities is transferred by real transformative power over a network. Brief Explanation of Protocols They are able to perform all functions of the cryptocurrency […]
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what is proof authority?-Definition of all finance terms

What is Proof of Authority?

Definition  Proof of authority is introduced in a replacement of proof of work which authorizes the new blocks in a setup and makes that blockchain more secure with their specific authorization. Brief Explanation of Proof of Authority Unlike the POW, the POA network has no drawbacks. It is more secure for all blockchain-based applications. This […]
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What is DIGITAL COMMODITY ?-Definition of all finance terms

What is digital commodity?

Definition The digital commodity is an interchangeable good or product that can be exchanged against any other commodities without any mentioned value. A virtual exchange of its intrinsic value takes place in a digital world. One of the most common digital commodities is BITCOIN these days. Brief Explanation of digital commodity This new technological era […]
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What is Multi-signature?

What is Multi-signature?

Definition of Multi-signature Multi-signature is one of the security processes in any activity; more than one signature makes that activity is more reliable or secure. In addition, this signature process stops the misuse of any transactions or falsification in the field of cryptocurrency. Brief Explanation of Multi-signature In bitcoin trading or transactions, it is a very […]
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What is Encryption?

What is Encryption?

Definition of Encryption  An encryption process involves converting plaintext into a ciphertext that encrypts the data. In easy terms, it is the process of securing confidential information or data into an unreadable form to unauthorizBriefed access. Brief Explanation of Encryption This converting process of data and information maintains the confidentiality of information or data of someone. […]
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What is State Channel?

What is State Channel?

Definition A State channel is one of the information systems of the state in wireless communication, which have the properties of a communication link. It makes it possible to provide the information through a network to a blockchain. Therefore, it is considered as one of a wideStar approaches for the collaboration of blockchain. Brief Explanation […]
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