All Finance terms definitions starting with the alphabet P

What is Peer?

Definition of Peer A peer is a group or number of functional units in a network, which allows 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 the name of the P2P network, regulate all these peers for […]

What is Participant?

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. Moreover, these participants can regulate in this distributed blockchain-based network with the help of […]

What is Proof-of-Stake?

Definition of Proof-of-Stake It is the alternative to proof of work. Proof-of-stake is a concept that letting know about the capacity of a person can hold the block transactions by checking how many numbers of digitized coins or currency they have. Therefore, a person with more coins can have a greater number of block transactions in […]

What is Proof-of-Work?

Definition of Proof-of-Work Proof of work is a protocol that is commonly used in much of cryptographic applications. It is helpful in the generation of a block in a distributed blockchain-based network. Every minor must complete their POW to accept a block by network participants. Hash cash is one of an application of this method. Brief […]

What is Private Currency?

Definition of Private Currency Private currency is one kind of currency that is issued by a private firm or entity in which there is a change in the market value of that currency. There are so many countries in the world where the issuance of this currency has been restricted by law. Brief Explanation of Private […]

what is peer-to-peer?-Definition of all finance terms

What is PEER TO PEER (P2P)?

Definition of Peer-to-Peer P2P stands for peer-to-peer, consisting of more than one personal computer system connected to one another through an internet connection or network. There is no central computer system or server which transfers data to other clients, in this case, all the information has been shared between all the systems with each other. […]

What is Private key?

Definition of Private key It is a variable that is used in a world of cryptocurrency in which variable has been associated with a public key or algorithm to encrypt or decrypt code known as a private key. Fundamentally, this key is a part of a bitcoin and outcomes with the help of which their owner […]

what is permissioned block chain?-Definition of all finance terms

What is Permissioned blockchains?

Definition Permissioned blockchains are a distributed network that prohibits consensus participation by users or actors. The only allowed recipient can be a part of that network or system. Even it also restricted users from creating smart contracts. Brief Explanation of Permissioned blockchains In this distributed blockchain-based network, every user or customer has to be an […]

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 […]

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 […]