Peer to Peer
By bijok_adam | Updated on Aug 12, 2021
Peer-to-peer (P2P) protocols are a type of communication architecture where each and every participations of the member are nodes of the network, without the need for central coordination by servers or stable hosts. One of the cetral tenets of designing a cryptocurrency protocol is that the network has to be peer-to-peer, making the network anti-fragile and without a central point of failure. Other P2P network includes Webtorrents, TOR, Mesh Networks and others.
Related Terms
Hey Hey Hey
A term made popular by Carlos Matos who was the spokesperson for the Bitconnect Ponzi. He used it frequently during Bitconnect events to rile up the crowd.
State Channel
Secondary payment channel occuring off-chain
Explain Like I'm Five (ELI5)
To explain in such simple terms that even a five-year-old would be able to understand it.
51% Attack
An attack on blockchain by a group of miners controlling more than 50% of network hash rate
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