Protocol
A set of rules that determine how data is transmitted over a network, such as a blockchain.
A set of rules that determine how data is transmitted over a network, such as a blockchain.
In computing and digital technologies, a protocol is a set of rules or procedures for transmitting data between electronic devices, such as a computer or a smartphone. These rules govern the interaction between different network entities, specifying how data should be formatted, addressed, transmitted, received, and acknowledged. In the context of blockchain and cryptocurrencies, a protocol refers to the technology or algorithm that underpins a cryptocurrency or blockchain network, allowing it to function. For example, the Bitcoin protocol is based on proof-of-work, while the Ethereum protocol also includes capabilities for smart contracts.
The code is the law
Bitcoin and Ethereum are examples of different protocols within the cryptocurrency space. Each has its own rules for transaction validation, block creation, and other aspects of network operation.
