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Soft-fork
In blockchain, a fork is defined variously as: * "What happens when a blockchain diverges into two potential paths forward", * "A change in protocol", or * A situation that "occurs when two or more blocks have the same block height". Forks are related to the fact that different parties need to use common rules to maintain the history of the blockchain. When parties are not in agreement, alternative chains may emerge. While most forks are short-lived some are permanent. Short-lived forks are due to the difficulty of reaching fast consensus in a distributed system. Whereas permanent forks (in the sense of protocol changes) have been used to add new features to a blockchain, they can also be used to reverse the effects of hacking such as the case with Ethereum and Ethereum Classic, or avert catastrophic bugs on a blockchain as was the case with the bitcoin fork on 6 August 2010. The concept of blockchain technology was first introduced in 2008 by an unknown person or group of peopl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin
Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source software, open-source implementation. In 2021, Bitcoin in El Salvador, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, Cryptocurrency and crime, its use by criminals has attracted the attention of regulators, leading to Legality of cryptocurrency by country or territory, its ban by several countries . Bitcoin works through the collaboration of computers, each of which acts as a Node (networking), node in the peer-to-peer bitcoin network. Each node maintains an independent copy of a public distributed ledger of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blockchain
The blockchain is a distributed ledger with growing lists of Record (computer science), records (''blocks'') that are securely linked together via Cryptographic hash function, cryptographic hashes. Each block contains a cryptographic hash of the previous block, a Trusted timestamping, timestamp, and transaction data (generally represented as a Merkle tree, where Node (computer science), data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a ''chain'' (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are resistant to alteration because, once recorded, the data in any given block cannot be changed retroactively without altering all subsequent blocks and obtaining network consensus to accept these changes. Blockchains are typically managed by a peer-to-peer, peer-to-peer (P2P) computer network for use as a public distributed led ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The DAO (organization)
The DAO was a digital decentralized autonomous organization and a form of investor-directed venture capital fund. After launching in April 2016 via a token sale, it became one of the largest crowdfunding campaigns in history, but it ceased activity after much of its funds - in the form of US$ exchanged for "Ether (value token), Ether-crypto coins" - were taken in a hack in June 2016. The DAO had an objective to provide a new Decentralization, decentralized business model for organizing both commercial enterprise, commercial and non-profit enterprises. It was instantiated on the Ethereum blockchain (database), blockchain and had no conventional management structure or board of directors. The source code, code of the DAO is open-source software, open-source. In June 2016, users Exploit (computer security), exploited a vulnerability in The DAO code to enable them to siphon off one-third of The DAO's funds to a subsidiary account. The Ethereum community controversially decided to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Service
The Internal Revenue Service (IRS) is the revenue service for the Federal government of the United States, United States federal government, which is responsible for collecting Taxation in the United States, U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law. It is an agency of the United States Department of the Treasury, Department of the Treasury and led by the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The duties of the IRS include providing tax assistance to taxpayers; pursuing and resolving instances of erroneous or fraudulent tax filings; and overseeing various benefits programs, including the Affordable Care Act. The IRS originates from the Commissioner of Internal Revenue, a federal office created in 1862 to assess the nation's first income tax to fund the American Civil War. The temporary measure funded over a fifth of the Union's war expens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Government Of The United States
The Federal Government of the United States of America (U.S. federal government or U.S. government) is the Federation#Federal governments, national government of the United States. The U.S. federal government is composed of three distinct branches: United States Congress, legislative, President of the United States, executive, and Federal judiciary of the United States, judicial. Powers of these three branches are defined and vested by the Constitution of the United States, U.S. Constitution, which has been in continuous effect since May 4, 1789. The powers and duties of these branches are further defined by Act of Congress, Acts of Congress, including the creation of United States federal executive departments, executive departments and courts subordinate to the Supreme Court of the United States, U.S. Supreme Court. In the Federalism in the United States, federal division of power, the federal government shares sovereignty with each of the 50 states in their respective t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cryptoasset
A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership records are stored in a digital ledger or blockchain, which is a computerized database that uses a consensus mechanism to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. The two most common consensus mechanisms are proof of work and proof of stake. Despite the name, which has come to describe many of the fungible blockchain tokens that have been created, cryptocurrencies are not considered to be currencies in the traditional sense, and varying legal treatments have been applied to them in various jurisdictions, including classification as commodities, securities, and currencies. Cryptocurrencies are generally viewed as a distinct asset class in practice. The first cryptocurrency wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
