What is Proof-of-Work?
Definition of Proof-of-Work POF is a protocol which is commonly used in much of cryptographic applications. This is helpful in the generation of a block in a distributed blockchain based network. Every miner has to complete their proof of work in order to accept a block by network participants. Hash cash is one of an application […]
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Definition of Replicated Ledger Replicated ledger is a copy of a distributed ledger in a network which is distributed to all participants in a network of cryptocurrency world. This is very helpful to share all the recorded digitized information or data with all participants of cryptocurrency in a network. Share a single copy to a globe […]
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Definition of Consensus The consensus is kind of a standard or rule required for the secure regulation of all the blocks in a bitcoin process. If not a single a participant follows the rule, they require a hard fork. It considers the validity of a block or transactions.Consensus also called hard rules because bitcoin requires that […]
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Definition of interplanetary file system IPFS stands for an interplanetary file system. It is an open source distributed block chain based project in a network. It was first introduced or designed by Juan Benet in 2014. Breif Explanation of interplanetary file system It’s a protocol in a network which creates a decentralized pattern of storing and […]
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Definition of Private Currency Private currency is one kind of a currency which is issued by a private firm or entity in which there is a change in a market value of that currency. There are so many countries in the world where the issuance of this private currency has been restricted by law. Breif Explanation […]
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Definition of Solidity Solidity is basically is a high-level language, which is used in implementing smart contracts in an ethereum virtual machine. It’s a contract-oriented and statically typed language which is not commonly known by everyone in the distributed block chain based network. Breif Explanation of Solidity The purpose of this converting contracts in a different or […]
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Definition of SHA (Secure Hash Algorithm) SHA stands for the secure hash algorithm. It is one a hash function of the cryptographic world. Which is working on all digitized data by algorithm operations, it was introduced by NSA (national security agency) in the USA. SHA is a novel hash function which consists of a number of […]
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Definition of Ring Signature Ring signature is one of a digitized signature which can be done by any authorized person or a person which have an access to sign for a specific task or transaction, it was launched in 2001 by ASIACRYPT. This ring signature can be done by any of a key person. Breif Explanation […]
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Definition of Distributed ledgers A general agreement consists of digitized synchronized data which is shared publicly across the world to a different sites institutions and countries geographically called distributed ledger, also known as shared ledger. This ledger has been updated independently by each node over a worldwide network. Breif Explanation of Distributed ledgers For the execution of […]
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Definition of Double spend It’s one of an error in a digitized world in which same single electronic currency can be used more than one time. It can be easier to be spending more than a single time in a digital currency than a physical currency because digital token contains digital file which can easily replicate […]
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