From G to K ....
Hard fork to ICO
PURA Vida all! Return to our PURA cryptocurrency ABCs, where our last entry was the letter D as in DAO. For those of you who have just set up now, PURA 101 is a series of cryptocomputer terminology and block technology. Accordingly, today we take you from a hard fork to ICO. Read here for the first part of the series. As always, we want to provide valuable and up-to-date information that is possible here in our blog PURA, BlogChain. Please contact us directly if you would like to know more about a certain period. The team will try to include your questions in the upcoming article.
So let's start this session with a term that makes or does not cause happiness, depending on it:
H as in HARDFORK
Hardfork (or sometimes hard fork) is a radical change to the protocol that renders invalid blocks or transactions previously invalid (or vice versa). Therefore, this requires that all nodes or users switch to the latest version of the protocols software. Put differently, a hard fork is a constant deviation from the previous version of the blockade. This essentially creates a fork in the block-chain: one follows the new block-chain, the other goes along the old road.
HARDWARE WALLET
The Hardware Portfolio is a special encryption currency type of portfolio. This wallet stores the private key in a secure hardware device. This way of storage is to provide an extra layer of security. The private key is in the protected zone's microcontroller and can not be transferred out of the device. At this time, this type of storage has many benefits. It is immune to computer viruses that can steal private keys from software portfolios. This is safer than using a paper wallet that can easily be lost. It is equally important to use an authentic device made by reliable, technically competent security experts with a good reputation. Please do not buy second hand wallets.
hashish
The term "hash" is short for the "hash value" and is a number generated by a string of text. A Hash algorithm converts arbitrarily large amounts of data into a fixed length hash. The same hash will always be the result of the same data, but modifying the data even with one bit will completely change hash. Like all computer data, hashes are large numbers and are usually written as hexadecimal.
BitCoin uses the SHA-256 hash algorithm to generate verifiable "random" numbers in a way that requires a predictable amount of CPU effort. Generating SHA-256 hash with a value less than the current goal decides block and earns you some coins.
HODL
Undoubtedly, it is unlikely how a spelling mistake can become a way of life, but it is with "HODL". The first time the word "HODL" appeared, it was in a forum in 2013 and is said to mean "Hold On for Dear Life". Accordingly, it means keeping your cryptocombinates and not selling them, no matter how stormy the markets are.
ICO
ICO is the abbreviation for "Initial Coinage". The ICO is a fundraising mechanism where new projects sell their encrypted tokens in exchange for Bitcoin or dollars. This is somewhat similar to initial public offering (IPO), whereby investors buy shares in a company. In the ICO campaign, earlier project proponents buy a percentage of cryptocompact in exchange for legal tender or other crypto-recipients, but usually for Bitcoin.
So this is our terminology class for today - read here to find out how to start with PURA today!
