Scrypt is an alternative proof-of-work (PoW) algorithm that is used in Bitcoin mining instead of SHA-256. Unlike SHA-256, Scrypt mining places a greater emphasis on memory rather than pure CPU power. The goal of Scrypt mining is to diminish the advantage that ASICs have.
Monthly Archives: November 2023
A Secure Element refers to a specific hardware chip designed to execute a predetermined set of applications.
In the Axie Infinity universe, a scholarship is a widely practiced method where managers lend their free Axies to new players, known as scholars. Through this arrangement, managers can earn passive income from the battle rewards.
A secondary market refers to a platform where individuals or entities can engage in the buying and selling of various assets or securities that they possess, alongside other participants.
A Seed Phrase serves as the sole starting point for deriving keys in a deterministic wallet.
The Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. It is tasked with the enforcement of federal securities laws, the proposal of securities rules, and the regulation of the securities industry. The SEC plays a crucial role in ensuring the integrity and transparency of the national securities market.
Sharding is an effective method for scaling that allows for the division of blockchain states into separate partitions. These partitions consist of states and transaction history, enabling each shard to be processed simultaneously.
Staking involves participating in a proof-of-stake (PoS) system by depositing your tokens as a validator on the blockchain. This allows you to earn rewards.
SHA-256 is a cryptographic hash function that is widely used in various applications, including Bitcoin proof-of-work (PoW). It generates a unique 256-bit signature for any given text. This hash function plays a crucial role in ensuring the security and integrity of data in the Bitcoin network. By applying SHA-256 to the data, a fixed-size hash value is produced, which serves as a digital fingerprint for the text. This fingerprint is highly unique, making it extremely difficult to reverse-engineer the original text from the hash value. SHA-256 is designed to be a one-way function, meaning that it is computationally infeasible to find two different inputs that produce the same hash output. This property makes SHA-256 a reliable tool for verifying the integrity of data and preventing tampering or forgery. In the context of Bitcoin PoW, SHA-256 is used to mine new blocks and secure the blockchain network. Miners compete to find a hash value that meets certain criteria, which requires significant computational power. This process, known as mining, helps maintain the decentralized nature of the Bitcoin network and ensures the immutability of transactions. Overall, SHA-256 is a fundamental component of Bitcoin’s security infrastructure, providing a robust and efficient means of generating unique signatures for text data.
Settlement pertains to the procedure wherein a user carries out limit or market orders on an order-book-based decentralized exchange (DEX).