What are protocols in Crypto? What are token protocols?

What are protocols in Crypto? What are token protocols?

I understand how Consensus protocols work. They are essentially rules that nodes follow in order to validate transactions and blocks. It seems as if all tokens are their own protocols.

So what are protocols, and protocol tokens?

If DogeCoin and Litecoin are forks of Bitcoin, does it mean they are using the Bitcoin Protocol? Or do they have their own blockchain?

https://ift.tt/2twqJc8

Comments

Post a Comment

Popular posts from this blog

New ccminer 2.3.1 from Tpruvot with Lyra2REv3 Support and More

Image
New ccminer 2.3.1 from Tpruvot with Lyra2REv3 Support and More It has been a quite a while since the last update of tpruvot’s ccminer fork ( source ), but there it is a new version 2.3.1 available now that comes with support for Lyra2REv3, sha256q, exosis and Blake2b standard algorithms. The official binary is 64-bit Windows only built with CUDA 10 for SM3+ devices, SM 7.5 architecture is also supported, but doesn’t seem to bring any advantage, for others variants you can build from the source code as the miner is opensource. Do note that CUDA 10 support requires an Nvidia video driver version 410.48 or newer. The most notable thing abut the new release is the support for Lyra2REv3 that will soon be used by the Vertcoin (VTC) after the upcoming hardfork expected to happen in less than two days. The fork should happen in around February 2nd as it is planned for block 1080000, so make sure you are ready with the required local wallet upgrade (if you are using one) as well as with a min...
Read more

Bitcoin Gold (BTG) To Launch Mining on 12th November (7:00 UTC)

Image
Bitcoin Gold (BTG) To Launch Mining on 12th November (7:00 UTC) The Bitcoin Gold (BTG) team has announced the official launch time for the mainnet (currently on testnet) when the mining of the coin will become possible and its actual integration into exchanges and hopefully coin distribution and coins being possible to claim by Bitcoin owners that held BTC at the day of the blockchain snapshot. The official start date for start of Bitcoin Gold is set for 12th November (7:00 UTC) when the download of Bitcoin Gold full node client will be made available. The BTG blockchain will officially go live and the mining will begin and wallets and exchanges will be able to process deposits, withdrawals and trades (as soon as they are ready). We are still going to have to wait a couple of more days or more for larger exchanges to evaluate the software and decide should they add support for BTG and distribute Bitcoin Gold coins to their users that had BTC available at the time of the blockchain sna...
Read more

bitcoin rpc api createrawtransaction with python returns -3: Expected type array, got object

bitcoin rpc api createrawtransaction with python returns -3: Expected type array, got object experimenting with JSON RPC API using bitcoinrpc.authproxy for python. so far it works in all instances accept when i try to create a raw transaction. somewhere along the way im passing parameters in wrong format. i created helper methods to create my inputs/outputs like this: def getTransactionJsonInput(self, sourcetransaction) -> str: return {"txid": sourcetransaction['txid'] ,"vout":sourcetransaction['vout']} def getTransactionJsonOutput(self, new_address, amount, returnaddress, returnamount) -> str: return { new_address: amount, returnaddress: returnamount } and when i print my call to createrawtransaction it appears to be correct print('TRANSACTION inputs', [input], type([input])) print('TRANSACTION outputs', output, type(output)) return svc.createrawtransaction(input, output) TRAN...
Read more