PROOF OF WORK - SHA-256 - SMART CONTRACT


PROOF OF WORK	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity. ^{Source + Source}
SHA-256	it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. ^{Source + Source}
SMART CONTRACT	a ledger that is maintained by a central agency.^{Source + Source}
CENTRAL LEDGER	a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. once signed it can never be altered. a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. ^{Source + Source}


PROOF OF WORK	the more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with. a consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity. ^{Source + Source}
SHA-256	it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. ^{Source + Source}
SMART CONTRACT	a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. once signed it can never be altered. a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. ^{Source + Source}
CENTRAL LEDGER	a ledger that is maintained by a central agency.^{Source + Source}

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PROOF OF WORK - SHA-256 - SMART CONTRACT - CENTRAL LEDGER -