What are the terms of blockchain

2. Let's talk about the social or economic significance of blockchain. In fact, many of the previous technologies were devoted to "proctivity". For example, artificial intelligence is a kind of progress in proctivity. The blockchain, which has greatly improved the proction relations, is committed to the proction relations. So why do you say that
because the so-called proction relationship is actually how to do business between people and business partners. And these things, originally, are in the cognitive process between people, and there is no special program to program or quantify it
for example, if you and I are good friends now, we can do business. If someone stirs up our relationship and we are not good friends, we will not do business. Even if we can make money in business, we will not do business because there is no trust between us
as for blockchain, it is actually because the data is authenticated by all nodes and backed up at the same time, so my data is as real as possible and can't be tampered with. In this case, if you believe my data, you can make a program on this basis, and then use the data to make what kind of business contract, what kind of service, what kind of service, and what kind of service, what kind of service, what kind of service, what kind of service, what kind of service, what kind of service, what kind of service, etc This "proction relationship" of commercial cooperation is programmed. In this way, we believe in the data and the program compiled by the algorithm. Because you believe in the data and the program, you can develop all kinds of apps in the program. These apps are the proction relations and what business to do. This is: blockchain is actually a reconstruction of "proction relationship".

3. The term blockchain comes from bitcoin, and it is also the underlying technology of bitcoin. In short, it is an account book with incentive system. In an open transaction, everyone can keep an account according to their computing power, keep the account book updated and the transaction going on, and those who successfully keep an account will be rewarded (bitcoin), Through such self motivation, the operation mechanism that does not rely on any company or organization is called blockchain

4. They are both encrypted virtual digital currencies. The difference is that bitcoin was born early, has a large audience, and is highly accepted (Dell and Microsoft both accept bitcoin payment). Bitcoin is the representative and originator of cryptocurrency, and has a high market value. Bitcoin is also a small-scale social experience. Ethereum is the second generation of digital currency, and IOT is the follow-up currency, It is also developed based on the smart contract of Ethereum. Last time I saw their founder Zhang Feng's roadshow, it was good

5. Currency circle: refers to the people who focus on currency speculation and even issue their own digital currency for financing. Generally speaking, blockchain project parties, exchanges and some blockchain media all belong to the currency circle
chain circle: refers to people who focus on the research and development, application or underlying protocol of blockchain. Without the technical support of the chain circle, the coin circle can not exist. In the future, the implementation of the blockchain scene will depend on the technology of the chain circle. With the popularity of blockchain technology, many related top domain names have been registered

mining circle: refers to the "miners" who focus on "mining"

currency speculation: refers to the behavior of repeatedly buying and selling digital currency through the trading platform in order to obtain high income

suoha: it's a transliteration of show hand in English. It was originally a term in gambling games. It's the act of withdrawing all the available chips in hand at one time. When it comes to blockchain investment, it refers to investing all of your available assets in digital currency in order to speculate in money, which has the meaning of "bet your fortune"

Buddhist holding of cryptocurrency: refers to the behavior of not caring about the price trend of cryptocurrency after holding of cryptocurrency, no matter how much the asset price of cryptocurrency falls, it will not rece the holding of cryptocurrency in hand.

6. 1. Utility token

utility token is a utility token that acts as a right to use a specific service

examples of terminology usage

utility tokens are premised on the use of services

detailed description

you can settle the price of goods and meals instead of cash, and you can access it by having cloud storage. For utility tokens, there is no need to audit the classification of the report

6, public chain

public chain is a highly "public" blockchain, anyone can freely participate in the network

example of terminology usage

as an infrastructure project for mediating data exchange between blockchains, a mechanism for data exchange on public blockchains will be established

detailed description

in the blockchain used to record the transaction information of encrypted assets (virtual currency), this is a mechanism used by an unspecified number of participants to establish transaction information by consensus without a specific management entity. It is very safe to prevent forgery of transaction information, but it requires a lot of calculation, so its disadvantage is that it takes a long time to complete the transaction when there are many participants

7. Scalability

scalability refers to the scalability of delayed transaction processing

examples of terminology usage

soaring gasoline prices highlight Ethereum's scalability issues

detailed description

e to the nature of blockchain and the limited amount of transaction data that can be written in a block, the processing is delayed. Remittances can take a long time, which can lead to higher transaction costs. Bitcoin is the first cryptocurrency born, which has been considered as a special problem, but efforts to solve this problem have been implemented, such as using other technologies such as lightning network and developing new blockchain

8. Gas cost

gas cost is the (Network) transaction cost on Ethereum blockchain

examples of terminology usage

this week, on the Ethereum blockchain, although there are a small amount of remittances, there are still many cases of high natural gas bills being paid

detailed description

the gas fee of user specified amount is the secondary reward. Eth, the virtual currency, is used for payment. Since the transaction with higher cost should be dealt with first, the gas cost may increase with the increase of transaction number

9. Liquidity mining (liquidity mining)

considering the provision of liquidity (currency pair), liquidity mining is to grant governance token in addition to interest, so as to attract those who implement the rate of return balance

examples of terminology usage

detailed description

in liquidity mining, by storing specific assets in the liquidity pool and providing liquidity that traders can buy and sell, the swap fee at that time can be obtained as income. These liquidity mining originated from the largest decentralized exchange "uniswap", and many liquidity mining contracts were born, such as curve finance and balancer

10. Defi (distributed Finance)

defi (decentralized Finance) refers to the financial services or systems that use blockchain and provide without a central administrator

examples of terminology usage

since June 2020, the market of defi has developed rapidly

specify the abbreviation of "decentralized finance". The financial services offered by defi include the issuance of stable coins, lending currency and cryptocurrency exchanges. Many platforms use Ethereum blockchain

11. POS (proof of equity)

POS is a consensus algorithm, which allows you to approve and generate new block rights according to the percentage (equity) of your own virtual currency

According to vitalik buterin, co-founder of Ethereum, migrating eth's consensus algorithm from POW to POS will improve security and scalability

specify the abbreviation of

proof of interest. We can also consider the holding period of virtual currency. It was born as an alternative to the "proof of work (POW)" consensus algorithm, which requires high-performance computers to approve transactions and consumes a lot of energy. If approved, you can receive a new virtual currency as a reward

12. Dapps

DAPP is an application developed with open source blockchain

examples of terminology usage

Galaxy store, the largest Samsung Electronics app store in South Korea, has started to use Tron's blockchain to process dapps

detailed description

the abbreviation of "distributed application" is called "distributed application" in Japanese. One of the main features is that there is no centralized administrator. The most popular is Ethereum blockchain, which is developing applications such as games and decentralized exchange (DEX)