Position: Home page » Computing » Bitcoin is a decentralized currency

Bitcoin is a decentralized currency

Publish: 2021-04-17 21:47:56
1. The concept of bitcoin (BTC) was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009
according to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
unlike all currencies, bitcoin does not rely on a specific monetary institution to issue. It is generated by a large number of calculations based on a specific algorithm
bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of money circulation
this answer is provided by KangBo finance and economics. KangBo finance and economics focuses on the interpretation of financial hot events and the popularization of financial knowledge. It adheres to the profession and pursues fun. It is a financial content that people can understand and transmits financial value in a variety of vivid ways. I hope this answer will help you.
2. 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
3.

Bitcoin is a kind of electronic currency / network virtual currency

bitcoin: also known as "bitcoin", is a kind of network virtual currency. Internet users can use bitcoin to buy some virtual goods, such as clothes, hats, equipment, etc. in online games. Internet users can also use bitcoin to buy real goods

on February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that the relevant authorities would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency

from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees

extended data:

currency features:

1, decentralization: bitcoin is the first distributed virtual currency, the whole network is composed of users, and there is no central bank. Decentralization is the guarantee of bitcoin's security and freedom

2, global circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3, exclusive ownership: private key is needed to control bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself

4, low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution

5, no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6, cross platform Mining: users can explore the computing power of different hardware on many platforms

advantages of bitcoin:

1, it is completely decentralized, without issuing institutions, it is impossible to manipulate the number of issues. Its distribution and circulation are realized through open-source P2P algorithm

2, anonymity, tax exemption and supervision free

3, robustness. Bitcoin is completely dependent on P2P network and has no distribution center, so it cannot be shut down externally. Bitcoin price may fluctuate and collapse, and many governments may declare it illegal, but bitcoin and its huge P2P network will not disappear

4, borderless and cross-border. Cross border remittance will go through layers of exchange control agencies, and the transaction records will be recorded by many parties. But if you trade with bitcoin, enter the digital address directly, click the mouse and wait for the P2P network to confirm the transaction, a lot of money will pass. It does not go through any regulatory agencies and will not leave any cross-border transaction records

5, Shanzhai people are difficult to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency

but these counterfeit currencies are very fragile and vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency

many counterfeit coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical

the weakness of bitcoin

1, the fragility of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities

2, the transaction confirmation time is long. When bitcoin wallet is first installed, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed

3, the price fluctuates greatly. Due to the intervention of a large number of speculators, the price of bitcoin for cash fluctuates like a roller coaster. Making bitcoin more suitable for speculation rather than anonymous trading

4, the public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control

but the public doesn't understand, and many people can't even distinguish between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless

4. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

unlike 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 a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to about 21 million

from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees

on September 4, 2017, the central bank and other seven ministries and commissions announced that China banned virtual currency trading

on December 17, 2017, bitcoin reached an all-time high of $19850

on November 25, 2018, bitcoin fell below the $4000 mark and is now stable at more than $3000.

in April 2019, bitcoin again stood at the $5000 mark, reaching a new high of the year.
5.

Bitcoin is not the currency of a country, but a virtual currency

the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

bitcoin is e-cash similar to e-mail. Both parties need "bitcoin wallet" similar to e-mail and "bitcoin address" similar to e-mail address. Just like sending and receiving e-mail, the remitter pays bitcoin directly to the other party through a computer or smart phone according to the recipient's address

extended data:

unlike all currencies, bitcoin does not rely on specific currency institutions to issue. 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

the decentralized feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity


6. Building owners, different procts apply for different projects to provide different information
the information needed for RF is:
2 Sample (s) PCs 3-4 sets (complete set with accessories, frequency interval greater than 1m, need three prototypes of high, medium and low frequency launch and one common launch sample or fixed frequency software)

3 The technical specification includes the following contents:
a Frequency: indicate the frequency range or detailed frequency points
B Movement: working mode, such as FM, HFSS, DSSS, unps, GSM, CDMA, etc.
C Output power

4 User manual

5. BOM list of key components (PCB, wire, etc., UL file No.)

6 Block diagram (antenna should be provided, and the transmitting frequency should be marked at the antenna end)

8 Part layout

9 Circuit description is also called operational description

9. PCB silk screen diagram PCB laout diagram (printed wiring diagram)

10. Charger en60950 test report. En60950 report for adapter

11. Final hardware version, final software version

12. Engineering instruction BT of Bluetooth, WiFi molation for testing

13. Antenna specification (including gain, GSM, WiFi, BT, WCDMA antenna gain)

14, Need to provide cell specification)

15. UL cert for PCB board (flame retardant grade greater than or equal to V-1)

16. Doc countersigned / POA countersigned (when the report is completed)

if it is high-voltage procts, you need more information about key components of safety regulation!
7. Digital currency and Internet of things complement each other. Digital currency generally refers to bitcoin, lightcoin, decent, dogcoin and other encrypted digital currencies. The Internet of things is an important part of the new generation of information technology, and also an important development stage of the "information" era. Its English name is "Internet of things (IOT)". As the name suggests, the Internet of things is the Internet of things. This has two meanings: first, the core and foundation of the Internet of things is still the Internet, which is an extension and expansion network based on the Internet; Second, its client extends to any goods and goods, information exchange and communication, that is, mutual information. As the name suggests, the Internet of things is the Internet of things. This has two meanings: first, the core and foundation of the Internet of things is still the Internet, which is an extension and expansion network based on the Internet; Second, its client extends to any goods and goods, information exchange and communication, that is, mutual information. There are three key technologies in the application of Internet of things: sensor technology, RFID tag and embedded system technology. The Internet of things has a wide range of uses, including intelligent transportation, environmental protection, government work, public safety, safe home, intelligent fire protection, instrial monitoring, environmental monitoring, street lighting control, landscape lighting control, building lighting control, square lighting control, elderly care, personal health, flower cultivation, water system monitoring, food traceability Enemy intelligence investigation and intelligence collection. The Internet of things will be the next "important proctivity" to promote the rapid development of the world and another trillions market after the communication network. The existing Internet of things in China is not equal to digital currency, but they are also related. The Internet of things is an important part of the new generation of information technology, and also an important development stage of the "information" era. Its English name is "Internet of things (IOT)". As the name suggests, the Internet of things is the Internet of things. This has two meanings: first, the core and foundation of the Internet of things is still the Internet, which is an extension and expansion network based on the Internet; Second, its client extends to any goods and goods, information exchange and communication, that is, mutual information.
8. As far as I know, there are several ways:
9. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Bitcoin is not issued by specific currency institutions, it is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions[ 1]
bitcoin is a kind of network virtual currency with limited quantity, similar to Tencent's q-coin, but it can be used for cash: it can be converted into the currency of most countries
the biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system has no more than 10.5 million in the first four years, and the total number after that will be permanently limited to 21 million. Another point is that you can use computers to make bitcoin[ 1]
10. Bitcoin is a kind of electronic currency, virtual digital currency, proced by open source P2P software. It is a kind of decentralized currency based on a set of cipher codes, generated by complex algorithms, and rules are not interfered by any indivial or organization. Any Internet user can download and run the bitcoin client online, participate in manufacturing and obtain the corresponding bitcoin
let's talk about the birth of bitcoin. Bitcoin was designed by a man named Nakamoto in 2008. He designed a complex algorithm. If you use your computer to crack it, as a reward, bitcoin will be generated (which is also called mining). When your computer completes certain cracking tasks, a bitcoin will be created, which belongs to you. Of course, money can't be created indefinitely, otherwise it will cause unlimited inflation. So, as more and more bitcoins are created, your computer will need to do more work to create new bitcoins. Eventually, by 2040, the total number of bitcoins will be strictly controlled at 21 million

bitcoin cannot be used as ordinary currency
Hot content
Inn digger Publish: 2021-05-29 20:04:36 Views: 341
Purchase of virtual currency in trust contract dispute Publish: 2021-05-29 20:04:33 Views: 942
Blockchain trust machine Publish: 2021-05-29 20:04:26 Views: 720
Brief introduction of ant mine Publish: 2021-05-29 20:04:25 Views: 848
Will digital currency open in November Publish: 2021-05-29 19:56:16 Views: 861
Global digital currency asset exchange Publish: 2021-05-29 19:54:29 Views: 603
Mining chip machine S11 Publish: 2021-05-29 19:54:26 Views: 945
Ethereum algorithm Sha3 Publish: 2021-05-29 19:52:40 Views: 643
Talking about blockchain is not reliable Publish: 2021-05-29 19:52:26 Views: 754
Mining machine node query Publish: 2021-05-29 19:36:37 Views: 750