Token

There is a technical difference between a Token and a Coin. In short, Coins are native to their #blockchain, Tokens instead are built on top of another blockchain, because of this, it is less expensive to create a Token than a Coin. 

Coin

There is a technical difference between a Token and a Coin. In short, Coins are native to their #blockchain, Tokens instead are built on top of another blockchain, because of this, it is less expensive to create a Token than a Coin. 

Miner

A confirmation is when #miners add a new block to the chain.  Miners install and run a special Blockchain mining software that enables their computers to communicate securely with one another.

 

Confirmation

A confirmation is when #miners add a new block to the chain. The more confirmation a #transaction has, the harder it is to hack.

Proof of Work

#PoW helps determine how the blockchain reaches consensus. In other words, how can the network be sure that the transaction is valid and double-spending is prevented? Proof of Work is based on an advanced form of mathematics called “#cryptography”.

Proof of Stake

The #stake is based on the number of coins the person has for the particular blockchain they are attempting to mine. Different from PoW, those who contribute to the Proof of Stake system simply earn the transaction fee.

Consensus mechanism

In a dynamically changing status of the #blockchain, publicly shared ledgers need an efficient, real-time, #reliable, and secure mechanism to ensure that all the transactions occurring on the network are genuine and all participants agree on the status of the ledger. This all-important task is performed by the consensus mechanism. To be validated, a transaction has to be approved by 51% of the network.

 

Unpermissioned ledger

 #Bitcoin, the most popular cryptocurrency blockchain, allows anyone to participate in the network. Anyone can make legit changes to the blockchain like adding a new block or maintaining a full copy of the entire blockchain. This is an unpermissioned ledger.

Permissioned ledger

Permissioned ledgers are popular among industry-level enterprises and businesses, for which security, identity, and role definition are important. These ledgers maintain an access control layer to allow certain actions to be performed only by authorized participants.

Peer to Peer

P2P file-sharing was introduced to the general public in 1999 when American college student Shawn Fanning created the music-sharing service #Napster. It employed a centralized index server, which users would search based on a song title or artist name.