BITCOIN TRANSACTION - BLOCK TIMESTAMP - COLD STORAGE - CONSORTIUM BLOCKCHAIN -


BITCOIN TRANSACTION
e.g: a consortium of 15 financial institutions. a blockchain where the consensus process is controlled by a pre-selected set of nodes. Source + Source
BLOCK TIMESTAMP
they help to make it more difficult for someone else to manipulate the blockchain. each block contains a timestamp in unix format. Source + Source
COLD STORAGE
as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.Source + Source
CONSORTIUM BLOCKCHAIN
these wallets are known as “cold wallets”. this could be in the form of a hardware wallet, usb stick or a paper wallet. the safest way to store your private keys is by keeping them offline in “cold storage”. Source + Source


BITCOIN TRANSACTION
as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.Source + Source
BLOCK TIMESTAMP
they help to make it more difficult for someone else to manipulate the blockchain. each block contains a timestamp in unix format. Source + Source
COLD STORAGE
these wallets are known as “cold wallets”. this could be in the form of a hardware wallet, usb stick or a paper wallet. the safest way to store your private keys is by keeping them offline in “cold storage”. Source + Source
CONSORTIUM BLOCKCHAIN
e.g: a consortium of 15 financial institutions. a blockchain where the consensus process is controlled by a pre-selected set of nodes. Source + Source

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