Introduction to decentralized Finance

1.

< Introction to cognition & gt

publication time: 2016

recommendation: this book is mainly for programmers. Combined with API programming, we can tell you the principle and usage of cryptocurrency, as well as how to develop related software. For non programmer readers, the first few chapters of this book are still applicable as in-depth introction of bitcoin Book pdf download: https://quant.la/Download

2. The decentralization of blockchain refers to the form of social relations and content generation formed in the process of blockchain development. It is a new network content proction process relative to "centralization"
blockchain is an important concept of bitcoin. It is essentially a decentralized database. At the same time, as the underlying technology of bitcoin, it is a series of data blocks generated by using cryptographic methods. Each data block contains a batch of bitcoin network transaction information, which is used to verify the effectiveness of its information (anti-counterfeiting) and generate the next block
blockchain is unified in the whole network, so it is logically centralized. From the perspective of architecture, blockchain is based on peer-to-peer network, so it is decentralized. From the perspective of governance, blockchain makes it difficult for a few people to control the whole system through consensus algorithm, so it is decentralized.

3. Compared with the traditional centralized financial system, the decentralized financial platform has three advantages:
A. indivials with asset management needs do not need to trust any intermediaries, and the new trust is rebuilt on the machine and code
B. everyone has access, no one has central control
C. all protocols are open source, so anyone can cooperate on the protocols to build new financial procts and accelerate financial innovation under the network effect
defi is a relatively broad concept, including currency issuance, currency transaction, loan, asset transaction, investment and financing, etc
we regard the birth of BTC and other cryptocurrencies as the first stage of decentralized finance. However, the decentralization of currency issuance and storage only provides a point-to-point settlement solution, which is not enough to support the rich financial business. The rapid development of decentralized lending agreements in the past two years will have the opportunity to further open the financial system of the blockchain world and bring decentralized finance into the second stage<

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4. Hello, it's a great honor to be here to answer your question. The following are some of my views on this issue. If there are any mistakes, please point them out. Start all
and enter the column
almost every supporter of encryption start-ups has a trend, that is, to use the decentralized value of blockchain technology to sell their business fundamentals

in this paper, we will explain the differences between decentralized financial agreement business and traditional business:

we will mainly discuss two aspects:

1) what is the real meaning of defi

2) what are the types and main differences of defi platforms< Users of traditional financial systems often want to build a system that is easier to access, more transparent, lower transaction costs and less dependent on intermediaries. To build such a more equitable financial system, banks, loans and derivatives must undergo fundamental changes. In addition, a decentralized ecosystem, such as defi, is needed. It promotes P2P lending, eliminates centralized control, and provides users with financial freedom

recently, in the field of cryptocurrency, there are many discussions about defi. It provides financial services to the world: loans, derivatives and other procts. Moreover, the role of traditional financial intermediaries has weakened, or even failed to play a role. Proponents of a decentralized financial system see defi as a good alternative to traditional lending. Some have called it the future of borrowing

defi is built on public blockchains such as bitcoin network and Ethereum. It has become one of the "core drivers" on the Ethereum network. By using unlicensed distributed networks, the defi platform converts financial procts into untrusted protocols that can be accessed by anyone anywhere in the world. People who don't have an account in the bank can also use the defi solution to loan and borrow assets, as well as to trade with financial instruments

open source platforms provide users with great benefits, including transparency, cheap cross-border transactions, no credit checks and less censorship. Anyone can carry out financial activities because there is no geographical restriction<

the degree of decentralization of defi

in recent months, the introction of defi solutions has proliferated. They have different models and their degree of decentralization is also different. Compared with other models, some defi models have poor dispersion. This is because only a few of their components are decentralized, while the rest are still centrally controlled by the company

the establishment of agreement, non trust, price supply, determination of interest rate, provision of liquidity of margin call and start-up of margin call are the key components of defi agreement. They determine the degree of decentralization

if there are a large number of decentralized components, then the defi protocol is more decentralized than other models. Such a protocol will give users complete control over their digital assets and get rid of centralized control. So far, there is no single defi protocol that disperses all components

each defi protocol is assigned a category according to the number of distributed components:

centralized finance (cefi)

defi solutions are usually unmanaged, which means that users can control their funds and be responsible for their security. Instead, cefi is hosted. The central system is responsible for keeping the assets of users and ensuring the safety of users' funds

when it comes to loans or loans, users can't control any aspect of funds. The interest rate is determined by the central government, and the liquidity of margin call is provided by the central system or authorities. Cefi procts use centralized price supply, and it is also permitted to issue margin call. Thank you very much for your patience. If you have any help, please accept it. I wish you a happy life! thank you!

5. Enter the column
almost every supporter of encryption start-ups has a trend, that is, to use the decentralized value of blockchain technology to sell their business fundamentals

in this paper, we will explain the differences between decentralized financial agreement business and traditional business:

we will mainly discuss two aspects:

1) what is the real meaning of defi

2) what are the types and main differences of defi platforms< Users of traditional financial systems often want to build a system that is easier to access, more transparent, lower transaction costs and less dependent on intermediaries. To build such a more equitable financial system, banks, loans and derivatives must undergo fundamental changes. In addition, a decentralized ecosystem, such as defi, is needed. It promotes P2P lending, eliminates centralized control, and provides users with financial freedom

recently, in the field of cryptocurrency, there are many discussions about defi. It provides financial services to the world: loans, derivatives and other procts. Moreover, the role of traditional financial intermediaries has weakened, or even failed to play a role. Proponents of a decentralized financial system see defi as a good alternative to traditional lending. Some have called it the future of borrowing

defi is built on public blockchains such as bitcoin network and Ethereum. It has become one of the "core drivers" on the Ethereum network. By using unlicensed distributed networks, the defi platform converts financial procts into untrusted protocols that can be accessed by anyone anywhere in the world. People who don't have an account in the bank can also use the defi solution to loan and borrow assets, as well as to trade with financial instruments

open source platforms provide users with great benefits, including transparency, cheap cross-border transactions, no credit checks and less censorship. Anyone can carry out financial activities because there is no geographical restriction<

the degree of decentralization of defi

in recent months, the introction of defi solutions has proliferated. They have different models and their degree of decentralization is also different. Compared with other models, some defi models have poor dispersion. This is because only a few of their components are decentralized, while the rest are still centrally controlled by the company

the establishment of agreement, non trust, price supply, determination of interest rate, provision of liquidity of margin call and start-up of margin call are the key components of defi agreement. They determine the degree of decentralization

if there are a large number of decentralized components, then the defi protocol is more decentralized than other models. Such a protocol will give users complete control over their digital assets and get rid of centralized control. So far, there is no single defi protocol that disperses all components

each defi protocol is assigned a category according to the number of distributed components:

centralized finance (cefi)

defi solutions are usually unmanaged, which means that users can control their funds and be responsible for their security. Instead, cefi is hosted. The central system is responsible for keeping the assets of users and ensuring the safety of users' funds

when it comes to loans or loans, users can't control any aspect of funds. The interest rate is determined by the central government, and the liquidity of margin call is provided by the central system or authorities. Cefi procts use centralized price supply, and it is also permitted to issue margin call.

6. What I trust more is the coin letter wallet. Since 17 years ago, I have been trading bitcoin on it. Risk control has done very well and never had any problems. Moreover, there are many kinds of digital currencies available on it.

7. Western economics and some primary accounting. Western economics recommends Samuelson's economics. In China, you can also see Gao Hongye's third edition. Gao's is relatively simple. If there is a little bit of securities, the foundation is better, in addition, mathematics can not be too bad
with these as the basis, you can read the books on finance, the textbook recommendation of Bodie and Morton's finance, the National People's Congress press. Investment studies: look at Bodie, the sixth edition of China Machine Press, and money and banking. I think these are some main courses. After reading them, I will choose the direction of subdivision according to my interest, such as behavioral finance
the best way to learn finance is to have someone to help you. It's hard for you to learn a lot of things. You can't study and understand a lot of things very quickly. You should not be too poor in learning financial mathematics. Finally, I wish you success. Learning finance is still very useful. I am learning finance myself<
a must read book for finance major

after study, June 28, 2009 20:38 read 395 comments 0 No. 1, Frank J. Fabozzi, Franco Modigliani: capital market institutions and tools, Economic Science Press, 1999< 2. Allen Garter, regulation, deregulation and re regulation, Economic Science Press, 1999
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2. Peter Newman, Murray milgate and John itwell: new Palgrave Dictionary of money and Finance (volume 1-3), Economic Science Press, 2000< Benjamin M. Friedman and frank h. Hahn: Handbook of Monetary Economics (Volume I and Volume II), Economic Science Press, 2002< 4. Stephen Mahoney, Handbook of international financial vocabulary, Economic Science Press, 2000< 5. Structural derivatives, Economic Science Press, 2000

8. Finance is the general term of currency circulation, credit activities and related economic activities. In a broad sense, finance generally refers to all economic activities related to the issuance, custody, exchange, settlement and financing of credit currency, even including the trading of gold and silver. In a narrow sense, finance specifically refers to the financing of credit currency

the contents of finance can be summarized as the issuance and withdrawal of currency, the absorption and payment of deposits, the issuance and recovery of loans, the trading of gold, silver and foreign exchange, the issuance and transfer of securities, insurance, trust, domestic and international currency settlement, etc. Institutions engaged in financial activities mainly include banks, trust and investment companies, insurance companies and securities companies, as well as credit cooperatives, finance companies, investment trust companies, financial leasing companies and securities, gold and silver, foreign exchange exchanges, etc

Finance is an economic category formed after the emergence of credit money, which is different from credit: (1) finance does not include physical loans, but specifically refers to the financing of monetary funds (narrow Finance). People not only borrow money to finance funds, but also issue stocks to finance funds 2) Credit refers to the borrowing and lending of all currencies, and Finance (narrow sense) specifically refers to the accommodation of credit and currency. The reason why people want to create a new concept besides "credit" to specifically refer to credit currency accommodation is to summarize a new economic phenomenon; The two economic processes of credit and currency circulation have been closely combined. The most obvious feature of finance is the bank credit which can create and rece money. Bank credit is considered to be the core of finance

Finance is a branch of economics which studies financing. The traditional finance research field has two directions: the macro level of financial market operation theory and the micro level of corporate investment theory<

characteristics of Finance:
1. Finance is a credit transaction
(1) credit
in economics, credit is a form of commodity transaction, corresponding to spot transaction (instant clearing transaction)
credit is the foundation of finance, and finance can best reflect the principles and characteristics of credit. In the developed commodity economy, credit has been integrated with currency circulation
(2) the characteristics of credit transaction
A. one party transfers the ownership of goods (including currency) or part of the power to the other party on the condition that the other party repay
B. there is a certain time difference between the prior transfer of one party's ownership of goods or its power and function and the relative repayment of the other party
C. the party who delivers in advance needs to bear certain credit risk, and the occurrence of credit transaction is based on giving trust to the other party
2. In principle, finance must take currency as the object
3. Financial transactions can occur among various economic components

its main research branches include:

financial market
Corporate Finance
financial engineering
financial economics
investment
money and banking, Banking and economics
International Finance
public finance
Insurance
Mathematical Finance
Financial Econometrics

9. I really don't have any books on this, but I have some materials on hand:
two strokes

T-square, which means that two stars form 180 on the astrolabe ° There is another star at 90 degrees to the two stars °

Y-type three angle Yod, the intersection angle of two stars is 60 °， And there's another star that's 150 degrees from the two ° The angle of view. Seven policies and four balances are the same as "Chinese astrology" (see four strokes)< Sagittarius Sagittarius is also known as Sagittarius. The ninth constellation of the zodiac, ruled by Jupiter, is located between 240 and 270 degrees of the Yellow longitude

the positions of the two stars are close to forming a certain angle

when a planet is in its guardian constellation, this phenomenon is called entering the wall. For example, the guardian constellations of Venus are Taurus and Libra. When Venus stays in Taurus, it is entering the wall The guardian constellations of the top ten stars (please refer to the explanation of each star)

if the star falls into fall, the star is in the constellation whose negative characteristics are easy to play, or when the star is in the relative position of its temple constellation, such as the sun in Libra and the moon in Scorpio

in the temple exaltation, the stars are in the constellations whose positive characteristics are easy to play, such as the sun in Aries and the moon in Taurus

weak detrimination, referred to as "weak". When a star is in a position where it is not easy to exert its characteristics, or when the star is in the opposite constellation of its guardian constellation, this phenomenon is called weak entry

the octave semi square, or semi square, is formed by the position of two stars or stars and the fundamental point ° The error is two to one degree

the twelfth phase semi sextile, also known as semi conjunction, is formed by the position of two stars or stars and the fundamental point ° The error is one degree< Horary Astrology is also called time astrology Please look at the ten strokes