A-to-Z Glossaries

A-to-Z Glossaries

The American engineer W. Edwards Deming once wrote, “In God we trust, all others bring data.” Deming’s amusing quote begs the important question – what if you have great data but no one who understands or appreciates it?

It’s one thing to have a server farm full of powerful in-memory chips running expensive analytics software that can crunch your numbers in real-time. It’s another thing entirely to have employees and executives who can make sense of all those sophisticated models.

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A computer's ability to determine intent, especially when what is said doesn't quite match what is meant. This task is much more difficult for computers than Natural Language Processing. 

A computers ability to detect human speech, recognize patterns in conversation, and turn text into speech.

Thursday, 27 August 2020

Hyperledger

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Hyperledger is a global enterprise blockchain project that offers the necessary framework, standards, guidelines and tools, to build open source blockchains and related applications for use across various industries. Hyperledger's projects include a variety of enterprise-ready permissioned blockchain platforms, where network participants are known to one another and therefore have an intrinsic interest in participating in the consensus making process.

Using the available components under the Hypeledger umbrella, a business can apply various modular blockchain solutions and services to significantly improve the performance of their operations and the efficiency of their business processes.

Source: https://www.investopedia.com/terms/h/hyperledger.asp

Thursday, 27 August 2020

Bitcoin

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Bitcoin is a digital currency created in January 2009 following the housing market crash. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto. The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of hundreds of other virtual currencies collectively referred to as Altcoins.

Source: https://www.investopedia.com/terms/b/bitcoin.asp

Thursday, 27 August 2020

Satoshi Nakamoto

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Satoshi Nakamoto is the name used by the creator/s of the protocol used in the Bitcoin cryptocurrency. Though the name Satoshi Nakamoto is nearly synonymous with Bitcoin, the physical person that name represents has never been found, leading many people to believe that it is a pseudonym for a different person or group of people Satoshi Nakamoto in Context Satoshi Nakamoto is considered the most enigmatic character in cryptocurrency. To date, it is unclear if the name refers to a single person or a group of people. What is known is that Satoshi Nakamoto published a paper in 2008 that jumpstarted the development of cryptocurrency. The paper, Bitcoin: A Peer-to-Peer Electronic Cash System, described the use of a peer-to-peer network as a solution to the problem of double-spending. The problem – that a digital currency or token could be duplicated in multiple transactions – is not found in physical currencies since a physical bill or coin can, by its nature, only exist in one place at a single time. Since a digital currency does not exist in physical space, using it in a transaction does not necessarily remove it from someone’s possession.

Source: https://www.investopedia.com/terms/s/satoshi-nakamoto.asp

Thursday, 27 August 2020

Smart Contracts

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A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. While blockchain technology has come to be thought of primarily as the foundation for bitcoin, it has evolved far beyond underpinning the virtual currency.

Source: https://www.investopedia.com/terms/s/smart-contracts.asp

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