The commonly used term? Bitcoin bitcoin – Word

The commonly used term? Bitcoin bitcoin – Word

Bitcoin initials Bitcoin used to represent the concept of bitcoin bitcoin itself or the whole network. For example: “today I learned more about the content of the Bitcoin agreement.” Without capital bitcoin said a unit of account. For example: “I have 10 bitcoin out today.” The unit is usually abbreviated as BTC or XBT.

Bitcoin address: like a physical address or e-mail address. This is someone to pay you when you only need to provide bitcoin information. However, an important difference is that each address should be used only in a single transaction.

Peer to peer network: refers to a single node and other nodes by allowing direct interaction, so as to realize the whole system as a system organized collective operation of the same

Peer to peer network: refers to a single node and other nodes by allowing direct interaction, so as to realize the whole system as a system organized collective operation of the same. For bitcoin, bitcoin network construction, each user in the dissemination of other users trading in such a way. It is important, do not need a bank as the third party.

Hashi: is measuring the unit network processing ability of the bit currency. In order to ensure the safety of the bitcoin network must have lots of math. When the network reaches hash 10Th/ second rate, it means that it can be calculated 10 trillion times per second.

Transaction confirmation: means that a deal has been network processing and is unlikely to be revoked. When the transaction is contained in a block will receive a confirmation, subsequent each block corresponds to a confirmation. For a small amount of a single transaction confirmation shall be deemed safe, however, such as the $1000 big deal, wait for 6 or more reasonable. Every confirmed are exponential in reducing the risk of transaction cancellation.

Block chain: a chronological record of public bitcoin transactions. Block chain shared by all bitcoin users. It is used to verify permanent bitcoin transactions and to prevent double spending.

Cryptography is a branch of mathematics, it allows us to create a very high security can provide proof of mathematics. E-commerce and Internet banking is also used in cryptography. For bitcoin, cryptography to ensure that it is impossible for anyone to use another purse money, or destroy the block chain. Cryptography is also used to give the wallet encryption, so no password is not wallet.

Bitcoin Wallet: general entity wallet in the bitcoin network equivalent. Bitcoin wallet actually contains your private key, you can let the consumer chain blocks allocated to bitcoin wallet. Like real wallet, each bitcoin wallet can display the total balance of all bitcoin it controls, and will allow you a certain amount of bitcoins to sb. The debit and credit cards for different businesses.

The private key: one is that you have the right to privacy from the data blocks of a particular consumer wallet bitcoin, through a cryptography signature to achieve. If you are using the wallet software, your private key is stored on your computer; if you are using online wallet, your private key is stored on a remote server. Don’t be a secret, because they can make your bitcoin wallet consumption corresponding bitcoin.

Bitcoin Mining: the use of computer hardware for the bitcoin network transactions that do mathematical calculations and improve the safety of the process. As a reward for their services, bitcoin miners can get what they contain confirm the transaction fee, and the newly created bitcoin. Mining is a professional and competitive market, with the completion of a bonus calculation segmentation. Not all bitcoin users are mining, mining profitable is not easy.

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