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Definition of clients Clients are also called a bitcoin wallet. It is a specialized piece of a network in which all the different nodes run in a hierarchy for the regulation of all the terminals in the decentralized network of bitcoin or cryptocurrency. Breif Explanation of clients These clients perform an important function for bitcoin network. Clients […]
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Definition of Light Node Any member which is connected to a computer with bitcoin network is called nodes. This is most commonly used lightweight node in a network. It forms the backbone of a network. This uses a lightweight hard disk space and bandwidth comparatively full nodes. Breif Explanation of Light Node Light nodes download all the […]
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Definition of SPV(Simplified Payment Verification) client SPV client stands for (simplified payment verification) client. It’s one of a method of verifying the payment or transaction of a bitcoin in a distributed block chain based network. It verifies particular transaction in a network without downloading the complete blocks of a bitcoin. This particular or individual block a smaller […]
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Definition of Peer A peer is a group or number of functional units in a network, which allows a more than one participant in a distributed blockchain based network. To connect and share their resources in this blockchain based network, these peers are so helpful. One common network by the name of the P2P network, regulate […]
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Definition of Participant Participants are a member of cryptocurrency. These participants are computers which are connected and shared their resources in a distributed blockchain based network. These participants or computers are working on behalf of their members who are a member of cryptocurrency. These participants can regulate in this distributed blockchain based network with the help […]
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Definition of Consensus Point It is one of an agreement among a different number or group of a person. Consensus Point is a point, either in time, or characterized as far as a set number or volume of records to be added to the ledger – where peers meet to concur the condition of the ledger.
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Definition of bitcoin (lowercase) Bitcoin lowercase has basically defined the bitcoin with a small “b” which represents different context or perspective. When we use bitcoin with the lowercase that means, we are here referring bitcoin in a context of a currency or money which is digitized. It is important for users to differentiate between bitcoin with uppercase […]
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Definition of Bitcoin (uppercase) Bitcoin uppercase has basically defined the bitcoin with a capital “B” which represents different context or perspective. When we use bitcoin with an uppercase that means we are here referring bitcoin in a context of complete distributed network or ecosystem. It is important for users to differentiate between bitcoin with uppercase and […]
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Definition of Attestation Ledger Attestation ledger is one of a reliable form of distributed ledger which providing an evidence or solid record of an agreements commitments and statements. Additionally, it can be used by an application to show that they are ongoing on a genuine ledger device. Breif Explanation of Attestation Ledger This ledger consists all types […]
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Definition of Proof-of-Stake It Is the alternative of proof of work. Proof of stake is a concept which letting know about the capacity of a person can hold the block transactions by checking that how many number of a digitized coin or currency they have. Which elaborates that a person who have greater no. of coins […]
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