Mark Mason
Well-known member
Bringing the Fun back to Fungibility
Transactions. Wallets, blockchains, and databases
Dash and other leading cryptocurrencies (Bitcoin, Litecoin, etc.) all have similar properties and functionality when it comes to transacting and tracking ownership of value. In a nutshell, they all maintain a persistent, decentralized, ledger of what cryptocurrencies call “outputs”. You can think of an output as a result of a transaction in the form of some unit of value. Additionally maintained is the cryptographic tie —called a private key—; between a person and their permission to spend an output from a previous transaction. As people transact, they essentially trade control of their ability to spend those outputs. Conversely, a wallet doesn’t really “contain” Dash. A wallet maintains that private key for the user. If you tally up all the values of those outputs, controlled by that private key, you have figured out the “balance” of your wallet. This is why sometimes people like to refer to cryptocurrency wallets as more akin to a keyring than a wallet.
Read more: https://www.dashforcenews.com/bringing-the-fun-back-to-fungibility/
Transactions. Wallets, blockchains, and databases
Dash and other leading cryptocurrencies (Bitcoin, Litecoin, etc.) all have similar properties and functionality when it comes to transacting and tracking ownership of value. In a nutshell, they all maintain a persistent, decentralized, ledger of what cryptocurrencies call “outputs”. You can think of an output as a result of a transaction in the form of some unit of value. Additionally maintained is the cryptographic tie —called a private key—; between a person and their permission to spend an output from a previous transaction. As people transact, they essentially trade control of their ability to spend those outputs. Conversely, a wallet doesn’t really “contain” Dash. A wallet maintains that private key for the user. If you tally up all the values of those outputs, controlled by that private key, you have figured out the “balance” of your wallet. This is why sometimes people like to refer to cryptocurrency wallets as more akin to a keyring than a wallet.
Read more: https://www.dashforcenews.com/bringing-the-fun-back-to-fungibility/