Decentralized cryptocurrency

1. For example, I borrow money from you in a village. Normally, if I am afraid that you will not repay the money, I can find an intermediary recognized by everyone, such as the village head as the guarantor, and sign an IOU. In this way, if you default at that time, I can find an intermediary to prove that you really owe me money, But there are two problems: 1. What if the village head finds out that his long lost son colludes with him to cheat you on money? 2. What if the middleman dies on the spot the next day! This is about trust and security. If the method of blockchain is to provide you with the certificate of the whole village (distributed), so that everyone knows about it and the other party can't default on it. Second, even if a small number of people or village heads deny (some nodes commit crimes) that they have lost the IOU or tampered with the content, there will still be others to make the basis

above, explain the two problems of building owners: 1. Decentralization, because the account book records are not centralized in the hands of each participant, and you will get paid if you save and keep accounts. 2. Since I can get rewards by saving and keeping accounts, can I just keep accounts instead of storing them? If you have a mining pool, you can keep accounts for it and store it for you. In this way, you can still get good rewards. There are only a few mining pools in the world, so they are centralized

2. It should be reliable.

3. That is, no one can control, not be controlled by the living center of a living group. Therefore, it can not be used as legal tender recognized by the state. There are a group of money speculators who argue that virtual currency will replace paper money every day. It's all bullshit. We must pay attention to investment risks. Now there are many pyramid schemes with virtual digital currency gimmicks to cheat money

4.

Cryptocurrency is not a tangible currency that can be carried with you, but a digital asset that can be exchanged“ The "encryption" part comes from using encryption technology for security and authentication ring a transaction

when using cryptocurrency for exchange instead of legal tender, crypto owners do not have to rely on banks to facilitate transactions, and can successfully avoid the costs of using financial institutions

generally, cryptocurrency transactions are processed and completed through the blockchain network. The blockchain is designed to be decentralized, so each computer connected to the network must successfully confirm the transaction before it can process it. Ideally, this would create a more secure transaction for all involved. It can also cause you to wait for a while; One of the big complaints about bitcoin is how long it takes to complete the transaction

domestic cryptocurrencies include bitcoin, Ethernet, Leyte and e-dinarcoin

extended data:

bitcoin: the concept of bitcoin was first proposed by Nakamoto in 2009. It is a P2P form of digital currency. Bitcoin is generated through a large number of calculations according to 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

ether coin: ether coin (a digital token of Ethereum, regarded as "bitcoin version 2.0"), can be bought and sold on the trading platform

lightcoin: lightcoin is a kind of network currency based on "point-to-point" technology, which can help users pay to anyone in the world immediately. At present, it is the second virtual currency after bitcoin's global circulation market value

reference materials:

network cryptocurrency

5. Bitcoin, Leyte coin, dogcoin, Diandian coin, American card coin, bitstock, dark coin, black coin, Ruibo coin, Malaysian coin, Mediterranean coin, Yuanbao coin, Zhaocai coin, sand coin, network gold

6. Theoretically, centralized blockchain technology is much safer. Only RMB, US dollar, Japanese yen and other traditional legal currencies are centralized.