1. Home
  2. Docs
  3. Getting Started
  4. WHATE IS DAIKICOIN?

WHATE IS DAIKICOIN?

Daikicoin coin was generated in January 2017, and has been backed by a dedicated digital currency exchange March 2018. It is design for the entrepreneurs and allows individuals to make cost effective, secure and fast transaction via decentralized peer to-peer network. Daikicoin is use worldwide and it is the choice of the best entrepreneurs.

Daikicoin is helpful for the conventional banking also. As, we all know that many third parties take benefits from the Conventional banking, in terms of financial as well as they get all the personal info via transaction. Cost and privacy both are the major issue for the conventional banking. But in Daikicoin third party transfering agents who wants their shares are not involved.

World Leading Software – Blockchain is a world wide famous as a leading software platform for digital assets, It is the system that governs transaction administration in digital currency. Daikicoin uses the world’s best leading software and that is blockchain technology and it works same The transactions in the system are recorded in a public ledger, processed by decentralized computers in an operation referred to as mining. Daikicoin has no central repository and no single administrator; the US Treasury refers to digital currencies like DAIKIcoin as ‘decentralized virtual currency.’ 300 301 302 303 304 305 Once your process starts and you start mining , the pool uses the following payout systems

Technology 

We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin.

A payee can verify the signatures to verify the chain of ownership. The problem of course is the payee can’t verify that one of the owners did not double-spend the coin. A common solution is to introduce a trusted central authority, or mint, that checks every transaction for double spending. After each transaction, the coin must be returned to the mint to issue a new coin, and only coins issued directly from the mint are trusted not to be double-spent. The problem with this solution is that the fate of the entire money system depends on the company running the mint, with every transaction having to go through them, just like a bank. We need a way for the payee to know that the previous owners did not sign any earlier transactions. For our purposes, the earliest transaction is the one that counts, so we don’t care about later attempts to double-spend. The only way to confirm the absence of a transaction is to be aware of all transactions. In the mint based model, the mint was aware of all transactions and decided which arrived first.

To accomplish this without a trusted party, transactions must be publicly announced [1], and we need a system for participants to agree on a single history of the order in which they were received. The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the first received.

Wallets  

The main types are desktop wallets, mobile wallets, web wallets, and hardware wallets.

Desktop Wallets

Desktop wallets are installed on a desktop or laptop computer and provide the user with complete control over the wallet. Some desktop wallets also include additional functionality, such as node software or exchange integration.
However, desktop wallets are considered relatively insecure, due to the danger that the computer could be compromised. Some well-known desktop wallets are DaikicoinCore, Armory, Hive OS X, and Electrum.1

Mobile Wallets

Mobile wallets perform the same functions as a desktop wallet, but on a smartphone or other mobile device. Many mobile wallets can facilitate quick payments in physical stores through near field communication (NFC) or by scanning a QR code.

Mobile wallets tend to be compatible with either iOS or Android. DaikicoinWallet, Hive Android, and Mycelium DaikicoinWallet are examples of mobile wallets. There have been many cases of malware disguised as Daikicoinwallets, so it is advisable to research carefully before deciding which one to use.

Web Wallets

A web wallet is an online service that can send and store cryptocurrency on your behalf. The main advantage of web wallets is that they can be accessed anywhere, from any device, as easily as checking your email.

However, security is a major concern. In addition to the risks of malware and phishing to steal users’ passwords, there is also significant counterparty risk. Many Daikicoinusers have logged in to a third-party service, only to find out that their Bitcoins have vanished.
Some of the most popular services are Coinbase, Blockchain, and Gemini.

Private Keys are used to control a Daikicoinaddresses. Anyone who steals your private key can steal your coins.

Hardware Wallets

Hardware wallets are by far the most secure type of Daikicoinwallet, as they store private keys on a physical device that cannot access the Internet. These devices resemble a USB drive. When the user wishes to make a Daikicointransaction on their computer, they plug in the hardware wallet, which can sign transactions without compromising the user’s private keys.

Hardware wallets are practically immune to virus attacks, and successful thefts have been rare. These devices often cost between $100 to $200. Ledger and Trezor are both well-known hardware wallet manufacturers.

Algorithm 

The large memory requirements of scrypt come from a large vector of pseudorandom bit strings that are generated as part of the algorithm. Once the vector is generated, the elements of it are accessed in a pseudo-random order and combined to produce the derived key. A straightforward implementation would need to keep the entire vector in RAM so that it can be accessed as needed.

Because the elements of the vector are generated algorithmically, each element could be generated on the fly as needed, only storing one element in memory at a time and therefore cutting the memory requirements significantly. However, the generation of each element is intended to be computationally expensive, and the elements are expected to be accessed many times throughout the execution of the function. Thus there is a significant trade-off in speed in order to get rid of the large memory requirements.

This sort of time–memory trade-off often exists in computer algorithms: speed can be increased at the cost of using more memory, or memory requirements decreased at the cost of performing more operations and taking longer. The idea behind scrypt is to deliberately make this trade-off costly in either direction. Thus an attacker could use an implementation that doesn’t require many resources (and can therefore be massively parallelized with limited expense) but runs very slowly, or use an implementation that runs more quickly but has very large memory requirements and is therefore more expensive to parallelize.

Function scrypt 
   Inputs: This algorithm includes the following  parameters: 
      Passphrase:                Bytes    string 
of characters to be hashed 
      Salt:                      Bytes    string 
of random characters that modifies the hash to  protect against Rainbow table attacks 
      CostFactor (N):            Integer  
CPU/memory cost parameter - Must be a power of 2  (e.g. 1024) 
      BlockSizeFactor (r):       Integer  
blocksize parameter, which fine-tunes sequential memory read size and performance. (8 is commonly used)  ParallelizationFactor (p): Integer Parallelization parameter.(1 .. 232-1 * 
hLen/MFlen) 
      DesiredKeyLen (dkLen):     Integer  Desired key length in bytes (Intended output 
length in octets of the derived key; a positive  integer satisfying dkLen ≤ (232− 1) * hLen.) 
hLen:        Integer  The  length in octets of the hash function (32 for SHA256). 
      MFlen:                     Integer  The 
length in octets of the output of the mixing function (SMix below). Defined as r * 128 in RFC7914. 
   Output: 
      DerivedKey:     Bytes    array of bytes, DesiredKeyLen long 
 
   Step 1. Generate expensive salt 
   blockSize ← 128*BlockSizeFactor  // Length 
(in bytes) of the SMix mixing function output 
(e.g. 128*8 = 1024 bytes) 
 
   Use PBKDF2 to generate initial  128*BlockSizeFactor*p bytes of data (e.g. 
128*8*3 = 3072 bytes) 
   Treat the result as an array of p elements, 
each entry being blocksize bytes (e.g. 3 
elements, each 1024 bytes) 
   [B0...Bp−1] ← PBKDF2HMAC-SHA256(Passphrase, Salt, 1, blockSize*ParallelizationFactor) 
 
   Mix each block in B Costfactor times using  ROMix function (each block can be mixed in 
parallel) 
   for i ← 0 to p-1 do 
      Bi ← ROMix(Bi, CostFactor) 
 
   All the elements of B is our new "expensive" 
 
 
salt 
   expensiveSalt ← B0∥B1∥B2∥ ... ∥Bp-1  // where ∥  is concatenation 
  
  Step 2. Use PBKDF2 to generate the desired  number of bytes, but using the expensive alt we 
just generated    return PBKDF2HMAC-SHA256(Passphrase, 
expensiveSalt, 1, DesiredKeyLen); 

Where PBKDF2(P, S, c, dkLen) notation is defined in RFC 2898, where c is an iteration count.
This notation is used by RFC 7914 for specifying a usage of PBKDF2 with c = 1.
Function ROMix(Block, Iterations)

Function ROMix(Block, Iterations) 
 
   Create Iterations copies of X 
   X ← Block 
   for i ← 0 to Iterations−1 do 
      Vi ← X 
      X ← BlockMix(X) 
 
   for i ← 0 to Iterations−1 do 
      j ← Integerify(X) mod Iterations  
      X ← BlockMix(X xor Vj) 
 
   return X 

Where RFC 7914 defines Integerify(X) as the result of interpreting the last 64 bytes of X as a little-endian integer A1.
Since Iterations equals 2 to the power of N, only the first Ceiling(N / 8) bytes among the last 64 bytes of X, interpreted as a little-endian integer A2, are actually needed to compute Integerify(X) mod Iterations = A1 mod Iterations = A2 mod Iterations.

Integerify(X) mod Iterations = A1 mod Iterations 
= A2 mod Iterations. 
Function BlockMix(B): 
 
    The block B is r 128-byte chunks (which is equivalent of 2r 64-byte chunks) 
    r ← Length(B) / 128; 
 
    Treat B as an array of 2r 64-byte chunks     [B0...B2r-1] ← B 
 
    X ← B2r−1 
    for i ← 0 to 2r−1 do 
        X ← Salsa20/8(X xor Bi)  // Salsa20/8 hashes from 64-bytes to 64-bytes 
        Yi ← X 
 
    return ← Y0∥Y2∥...∥Y2r−2 ∥ Y1∥Y3∥...∥Y2r−1 

Network support

The Daikicoinpeer-to-peer network serves both DaikicoinCore and many other Daikicoinprograms (mostly lightweight wallets). By contributing some of your bandwidth—typically about 100 GB upload a month—you can help support Bitcoin.
The bandwidth sharing guide provides all of the details you need to begin donating bandwidth.

Don’t Forget About Decentralization

The Daikicoinnetwork needs more than bandwidth—it also needs people who actively secure their bitcoins using DaikicoinCore. By securing your bitcoins with a full node like DaikicoinCore, you help protect Bitcoin’s decentralization for yourself and other Daikicoinusers.

You can help protect decentralization instead of donating bandwidth by simply using DaikicoinCore as your main wallet. Or, even better, you can both donate bandwidth and protect decentralization at the same time by using DaikicoinCore as your main wallet while also following the instructions in the bandwidth sharing guide.

Basic Set-up

We begin our analysis by looking at a single transaction period. As shown in Figure 3.1, there are N¯ + 1 subperiods within the single period. In subperiod 0, a buyer meets a seller to negotiate a trade. All other subperiods 1, . . . , N¯ serve as periods for confirming and settling trades that take place in subperiod 0. n = 0 n = 1 n = 2 … n = N¯ buyer sends d seller n = N double buyer spends negotiate (x, d, N) delivers x … Figure 3.1: Timeline for a single transaction period The buyer carries a real balance of cryptocurrency equal to z that can be used to buy an amount of goods x from a seller. Upon being matched, the buyer and the seller bargain to determine the terms of trade (x, d, N) which specify that the buyer pays the seller d ≤ z units of real balances and that the seller commits to deliver x units of goods after a number of successive payment confirmations N ∈ {0, . . . , N¯} in the Blockchain.14 We call N the confirmation lag of the transaction. For now, the terms of trade are taken as given, but will be determined endogenously in the next section. The seller produces the good at unit costs, while the buyer’s preference for consuming an amount x with confirmation lag N are given by δ N u(x) (1) where δ ∈ (0, 1) is the discount factor between two subperiods. Hence, discounting across the whole transaction period is given by15 β = δ N¯+1. (2) Finally, both buyers and sellers value real balances linearly and discount all payoffs that arise after the single transaction period at β.

Efficiency of Cryptocurrencies

For the distribution of preference evaluates the efficiency of Bitcoin as a means of payment relative to a cash system. All computations are for our benchmark model with the same preference parameters, but using different payments systems: cash, Bitcoin, optimal reward structure for Bitcoin. Besides mining costs, we report two measures of the welfare cost. The first measure gives the fraction of consumption people are willing to sacrifice in order to use cash under the Friedman rule which implies zero welfare costs. The second one computes the inflation rate with traditional cash so that people are indifferent between such system and the cryptocurrency. The current Bitcoin design is very inefficient, generating a welfare loss of 1.4% relative to an efficient cash system.27 The main source for this inefficiency is the large mining cost, which is estimated to be 360 mn USD per year. This translates into people being willing to accept a cash system with an inflation rate of 230% before being better off using Bitcoin as a means of payment. 27For comparison, a cash system with a 2% money growth rate generates a relatively small welfare cost of 0.003%. 31 However, given the distribution of preference shocks, it is inefficient to set the money growth rate and the transaction fees as high as in the calibrated model for Bitcoin. The optimal policy is to reduce the money growth rate – and to not use transaction fees at all (see Proposition 8) – which will discourage mining substantially.

Consequently, an optimally designed reward structure for Bitcoin would reduce its welfare cost to a small fraction of its estimated current cost (0.08%). The corresponding inflation that leaves people indifferent would drop to a more moderate level of 27.51%. Still, relative to cash, Bitcoin seems to be a very inefficient payment system for facilitating the observed set of transactions. This result could be driven by the fact that in the data, Bitcoin is being used for both large and small value transactions, and that the total volume of transactions is small. In order to control for this, we examine next the efficiency of a cryptocurrency when it is used to support a large volume of either small or large value transactions.

Best Usage of Cryptocurrencies

We now evaluate the efficiency of using cryptocurrencies for retail and large-value settlement systems. In Table 5.4, we present the quantiative results of calibrating our cryptocurrency model to 2014 US retail (debit cards) payments data and US large-value (Fedwire) data. A period is 30 minutes and the block length 1 minute. For the retail data, we pick B = 30.16 millions to match the number of debit cards28 and set σ = 0.540853348 to match the volume of transactions per card per day. For Fedwire, we assume B = 7866 to match the number of participants in 2014, and set σ = 0.9795 which is the average volume of transactions for a participants in 30 minutes. Finally, we 28Source: http://www.bis.org/cpmi/publ/d152.pdf 32 Table 5.4: Welfare Comparison between Retail and Large-value Systems Retail Payments Large Value Payments (US Debit cards) (Fedwire) avg transaction size $38.29 $6,552,236 annual volume 59539 millions 135 millions optimal µ − 1 0.038% 0.53% optimal τ 0% 0% confirmation lag 2 mins 12 mins welfare loss 0.00052 % 0.0060% mining cost (per year) $4.33 millions $22.10 billions equivalent fee (per transfer) $0.0002 $392.56 chose ε so that the average size of transactions equals the one observed in these payments systems, $38.29 and $6.5mn respectively. This is driven by data limitations. Double-spending incentives however increase with transaction size and, hence, we assume that the largest transactions in the debit card and Fedwire systems are 100 times and 5 times the average trade size. Table 5.4 confirms that the welfare losses in a retail payment system are much smaller than in a large-value one. In terms of the consumption equivalent measure, the welfare loss in a larger-value system is 0.006% of consumption, which is about 10 times larger than that in a retail system.

A large-value system incurs a huge mining cost of 22 bn USD, which is over 5000 times of that in the retail system. In the last row, we also derive the required transaction fee of a cash system (at 2% inflation) so that people are indifferent between such system and the cryptocurrency. When a cryptocurrency is used for retail transactions, the equivalent transaction fee is a negligible 0.02 cents per transfer. For the large-value system, the corresponding fee becomes a very large $392. The basic intuition follows directly from the double spending constraint we have derived in our theoretical model. As the transaction size is smaller in the retail system, the incentives to double spend are also smaller. Furthermore, mining is a public good so that the rewards from money growth can support a large transaction volume. This implies that confirmation lags can be shorter and one needs to induce less mining effort to dwarf double spending. Consequently, money growth can also be smaller in a retail system, making a cryptocurrency system less costly due to inflation. 33 This implies that a cryptocurrency works best when the volume of transactions is larger relative to the individual transaction size. As a result, a cryptocurrency tends to be much more efficient for conducting retail payments. The transaction fee measures in the last row of the table allow us to also evaluate whether cryptocurrencies can be a viable alternative to currenct payment systems. 

The interchange fee in the current debit card system is about 23 cents per transfer, while the service fee for Fedwire is 82 cents per transfer.29 This suggests that a well-functioning cryptocurrency system can potentially challenge current debit card systems by offering users a competitive transaction fee with large enough transaction volumes. This comparison – especially for retail payments systems – needs to be interpreted with caution. First, we do not consider certain private costs of running a cryptocurrency system. Examples are costs for data storage, network communication and software such as wallets to operate the system. Second, while the mining cost is a deadweight loss to society, part of the fees collected by retail and large value payment systems are profits earned by the providers so that operating costs tend to be lower than reflected in those fees. Finally, the above comparison does not take into account an important technical limitation of cryptocurrencies. Bitcoin and other implementations of cryptocurrencies face tight limits to their scalability. Unless one can address this issue by changing limits on block size and latency due to network speed, such systems will not be able to handle a large volume of transactions as required by modern retail payment systems.

A Peer-to-Peer Electronic Cash System

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they’ll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.

Programming language 

An object-oriented language known to enable developers to build robust applications that run on the .NET Framework with at least 2M developers worldwide. C# was developed back in 2000. Since its inception, it has become a popular programming language used to build powerful cross platform code that works over multiple operating systems such as Windows, Mac, Linux, and Android. Blockchain projects written with C# include:

  • Stratis a Blockchain-as-a-Service provider backed by Microsoft, allows enterprises to build their own private blockchain systems.
  • NEO was written in C#, however it also supports a variety of programming languages such as Javascript, Java, Python, and Go.

The Importance of Different Systems

The centralized vs decentralized vs distributed systems debate is relevant to both individuals and organizations. It affects almost everyone who uses the web. It’s at the core of the development and evolution of networks, financial systems, companies, apps, web services, and more.

While all these systems can function effectively, some are more stable and secure than others by design. Systems can be very small, interconnecting only a few devices and a handful of users. Or they can be immense and span countries and continents. Either way, they face the same challenges: fault tolerance, maintenance costs, and scalability.  

The internet itself is the world’s largest network. So large in fact that it brings together all these different systems into a vast digital ecosystem. But for most organizations and individuals, using all these systems is not feasible. They have to choose. And you may have to choose, too.

Centralized Systems

In a centralized system, all users are connected to a central network owner or “server”. The central owner stores data, which other users can access, and also user information. This user information may include user profiles, user-generated content, and more. A centralized system is easy to set up and can be developed quickly.

Decentralized Systems

As its name implies, decentralized systems don’t have one central owner. Instead, they use multiple central owners, each of which usually stores a copy of the resources users can access.

Welcome to Daikicoin’s Block Explorer! If you’d like to become confident in using a block explorer and fully understand its functions, we’re here to guide you through the site. To start off, you can open up https://blockchain.daikicoin.com in your web browser and follow along using the guide for an optimal learning experience.

First off, what’s a block explorer? To provide some basic terms, a block explorer is a blockchain search engine that allows you to search for a particular piece of information on the blockchain. The activities carried out on crypto blockchains are known as transactions, which occur when cryptocurrencies are sent to and from wallet addresses. Each transaction is recorded onto a digital ledger, known as a blockchain. Blocks on the blockchain are collections of transactions that were processed and approved by a group of third-parties known as miners (for most Proof-of-Work cryptocurrencies)..​​

To recap, a block explorer is an online tool to view all transactions that have taken place on the blockchain, the current network hash rate and transaction growth, and the activity on blockchain addresses, among other useful information. You can think of it as a window into the blockchain world, giving you the opportunity to observe what’s happening on it.

To assist users in using the block explorer, we have written this guide for those interested in the concept of blockchain, its terminology, and processes. Our block explorer visually displays block activity as it is confirmed in real-time, which allows users to take a more engaging approach to the data. They can look up a particular block number, and inspect it at a another level by viewing address and transaction details that make up a block.

Daikicoin’s block explorer currently has indices for Bitcoin, Ethereum and Litecoin, which forms the basis of learning how to navigate and comprehend the data for other blockchains. We will be adding more cryptocurrencies and functionalities to our block explorer, so users can explore real-time blockchain data and perform more in-depth analyses.

Who Uses A Block Explorer?

For one, traders and users, who often buy and sell crypto will utilize the block explorer to check on the status of their transactions. Once users initiate a transaction, they will receive an automatically-generated transaction hash and can use it to look up details of the payment and whether it was successful.

Miners use the block explorer to confirm significant block activity, especially to check if they have been successful in creating a particular block, which means they receive the block reward.

Crypto enthusiasts can track market activities such as the number of Bitcoins in the circulating supply, the market cap, or note the amount of energy required to mine Bitcoin. On the CMC block explorer, they can compare market data alongside of blockchain transactions, which can be seen as the underlying driver for market activity.

Have fun on your blockchain journey! Our aim for the block explorer is a no-frills, user-friendly tool that gives you easy access to data from multiple search points, and provides a more intuitive understanding of what you’re searching for. Let’s take a look at the block explorer! Proof-of-Work 

To implement a distributed timestamp server on a peer-to-peer basis, we will need to use a proofof-work system similar to Adam Back’s Hashcash [6], rather than newspaper or Usenet posts. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash. For our timestamp network, we implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it. The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote.

The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If a majority of CPU power is controlled by honest nodes, the honest chain will grow the fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of the block and all blocks after it and then catch up with and surpass the work of the honest nodes. We will show later that the probability of a slower attacker catching up diminishes exponentially as subsequent blocks are added. To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they’re generated too fast, the difficulty increases.

Network

The steps to run the network are as follows: 

1) New transactions are broadcast to all nodes. 

2) Each node collects new transactions into a block. 

3) Each node works on finding a difficult proof-of-work for its block. 

4) When a node finds a proof-of-work, it broadcasts the block to all nodes. 

5) Nodes accept the block only if all transactions in it are valid and not already spent.

 6) Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.

Nodes always consider the longest chain to be the correct one and will keep working on extending it. If two nodes broadcast different versions of the next block simultaneously, some nodes may receive one or the other first. In that case, they work on the first one they received, but save the other branch in case it becomes longer. The tie will be broken when the next proofof-work is found and one branch becomes longer; the nodes that were working on the other branch will then switch to the longer one.

Incentive  

By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them. The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.

The incentive can also be funded with transaction fees. If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction. Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free. The incentive may help encourage nodes to stay honest. If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth.

Common Terminology

ASIC (Application-Specific Integrated Circuit)
ASIC is a microchip which is designed for a special application amd for a particular 478 type of transmission protocol or a hand-held computer. You can compete it with 479 general integrated circuits for example microprocessor and the random access 480 memory chips in your PC. IT is used in a wide range of applications which includes 481 emission control,environmental monitoring, and personal digital assistants (PDAs). An 482 ASIC can be pre-manufactured for a special application

Block Reward

The reward given to a miner has successfully hashed transaction block. referred to as the ‘brains’ of a computer. The CPU is also known as the 489 processor or microprocessor. The CPU is responsible for executing a sequence of 490 stored instructions called

Fiat Currency: Currency that a government has declared to be legal tender, but is not 493 backed by a physical commodity. The value of fiat money is derived from the 494 relationship between supply and demand rather than the value of the material that the 495 money is made of. Historically, most Currencies were based on physical commodities 496 such as gold or silver, but fiat money is based solely on faith. Fiat is the Latin word 497 for”it shall be”

Was this article helpful to you? Yes No

How can we help?