What does bitcoin txid mean

1.

bitcoin is a kind of virtual encrypted digital currency in the form of P2P. Different from all currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, And the use of cryptography design to ensure the security of all aspects of money circulation. However, on September 4, 2017, the central bank and other seven ministries and commissions announced that virtual currency trading is prohibited in China, and bitcoin is prohibited from circulating in China

according to the first article of the notice on preventing the financing risks of token issuance, we should accurately understand the essential attributes of token issuance financing activities. Token issuance financing refers to the illegal sale and circulation of tokens by the financing subject to raise the so-called virtual currency such as bitcoin and ether coin from investors. In essence, it is an unauthorized illegal public financing behavior, which is suspected of illegal sale of token bills, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid schemes and other illegal criminal activities

Relevant departments will closely monitor relevant developments, strengthen cooperation with judicial departments and local governments, strictly enforce the law in accordance with the current working mechanism, and resolutely deal with market chaos. If suspected crimes are found, they will be transferred to judicial organs. The token or "virtual currency" used in token issuance financing is not issued by the monetary authority, does not have such monetary attributes as legal compensation and compulsion, does not have the same legal status as currency, and cannot and should not be used as currency in the market

extended information:

Article 3 of the announcement on preventing the financing risk of token issuance strengthens the management of token financing trading platform. From the date of this announcement, any so-called token financing trading platform shall not engage in the exchange business between legal tender and token and "virtual currency", nor buy or sell token or "virtual currency" as a central counterpart, nor provide pricing, information intermediary and other services for token or "virtual currency"

for the token financing trading platform with illegal problems, the financial management department will request the competent department of telecommunications to close its website platform and mobile app according to law, request the network information department to remove the mobile app from the app store, and request the instrial and commercial administration department to revoke its business license according to law

Article 4 financial institutions and non bank payment institutions shall not carry out business related to token issuance financing transactions. All financial institutions and non bank payment institutions shall not directly or indirectly provide procts or services such as account opening, registration, trading, clearing and settlement for token issuance and financing and "virtual currency", nor undertake insurance business related to token and "virtual currency" or include token and "virtual currency" into the scope of insurance liability. Financial institutions and non bank payment institutions shall report to the relevant departments in a timely manner if they find clues of violation of laws and regulations in token issuance financing transactions

2. The malleability of trading, also known as malleability, is the same thing (such as a lump of metal). Its essence and quality have not changed, but its shape has changed. This malleability will cause the inconsistency between transaction ID and txid, so that the user can't find the sent transaction
in the transaction data format of bitcoin, the transaction signature part is also included in the overall transaction. Finally, the overall transaction is hashed, and the transaction signature can be written in a variety of ways. If the attacker tampers with them, their functions are the same, but the byte has changed, resulting in a different signature, Some time ago, there was even a mine pool g out, which contained all the transactions that were extended attacks, bringing trouble to some applications
the change of txid may cause some applications can not find the txid when searching for it, thus affecting the status of some wallets' recharge or withdrawal, and bringing trouble to operators and users. Isolation witness is proposed to solve this problem. The transaction data and signature data are separated, so the txid of a transaction must be unique.

3. It is the value of bitcoin in ustd. Generally, a ustd will have a dollar corresponding to it. There are also some transactions, so CNY is the unit of measurement, which is RMB, such as currency exchange.

4. Bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system

bitcoin is proced by mining. Mining is simply to use your hardware equipment to calculate fixed mathematical problems, confirm transactions, and ensure the security of the whole bitcoin network system. The system will give you unequal bitcoin rewards according to the amount of computing power you contribute to the whole network< Bitcoin mining has gone through three stages: CPU, GPU and ASIC; In the second stage, people began to use graphics cards for mining, and some even bought a large number of graphics cards to form a mining machine group for mining; The third stage is to use professional ASIC miner for professional bitcoin mining. Since Avalon proced the world's first ASIC miner, the mining pattern has been completely broken, and the replacement speed of miner is very fast. Take Avalon miner as an example, it has been replaced for three generations.

5.

P2P network (peer-to-peer, referred to as P2P), also known as peer-to-peer network, also known as peer-to-peer network. This is a kind of Internet system without central server and completely exchange information by client

the central network system with a central server can be described in the following figure:

and the P2P network can be understood in the second figure. The P2P network can be understood in the second picture

different from the central network with central server, each client in P2P network is a client node and has the function of server. An important goal of P2P network is to enable all clients to provide resources, including bandwidth, storage space and computing power. The capacity of such a network can be much larger than that of a network with a central server. In the network of central server structure, every time you add a client, it means that the data transmission speed of all users will be reced, but P2P network will not

The robustness of

P2P network is much better than that of the central server network. Because as long as there is a problem with the central server, the whole network will collapse. However, if any client of P2P network has problems, the whole network still works normally