Byzantine Fault
By CoinGecko | Updated on Mar 03, 2020
A byzantine fault is where an error has occured, yet a computer system does not know due which component/what failed to the lack of information and continues to iterate on a given instruction.
An example of a byzantine fault tolerant distributed computing system that accounts this is the Bitcoin blockchain which utilizes the Proof-of-Work system to achieve consensus on the blockchain.
Related Terms
REKT
A shorthand slang for “wrecked”, typically describes bad trades that results in losses.
Nonce
Abbreviation for ‘number only used once’ It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
Bloodbath
In context of trading, the term bloodbath is commonly used to describe a market which is on a downtrend with many assets suffering from value depreciation.
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
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