Trustless

De CoinGecko| Actualizat la Mar 03, 2020
A defining aspect of cryptocurrencies is that is it now possible to complete a monetary transaction without need to assume trust in a third party. In traditional finance, a monetary transaction on the internet requires trust in a facilitator such as central banks, commecial banks, agents, or financial service provider without the universal access to audit their ability to faciliate the transaction. Sending money online is more akin to writing a cheque than paying in cash as the issue of decentralization without double spending remains unsolved until the emergence of bitcoin. When a party makes a transaction with cryptocurrencies, they can verify publically and mathematically that a transaction has been completed. This is in contrast to taking the "transaction completed" notification from a facilitator at face value.

Împărtășiți cu un prieten!

Termeni asociați

SHA-256
Abbreviation of "Secure Hashing Algoritm - 256", SHA-256 is part of the SHA2 that allows one-way hashing of any data into a 64 character string.
Liquid Proof of Stake (LPoS)
A proof of stake consensus mechanism by Tezos that slightly differs from Delegated Proof of Stake
Masternodes
Computers that are responsible for processing blockchain transactions and receive a reward when a block is mined.
Oracles
In the context of crypto, oracles refers to services which verify real-world and provide data to blockchains/smart contracts.
Doriți să aflați mai multe?
Înapoi la Glosar sau Abonați-vă la newsletterul nostru.
coingecko (thumbnail mini)
CoinGecko pentru iOS
coingecko (thumbnail mini)
CoinGecko pentru Android