Crypto Terms:
Letter P
Jun 19, 2023 |
updated Apr 02, 2024
What is Protocol?
Protocol -
is a fundamental collection of instructions that describes network interactions, such as consensus, transaction validation, and network involvement on a blockchain.
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A protocol is the basic set of instructions that describe the interactions on a network, typically involving consensus, transaction validation, and network participation on a blockchain.
They construct the design of the blockchain for cryptocurrencies, which is the distributed database management system for digital money to be safely transacted on the internet.