Decentralization of virtual currency

1. My mother is 70 years old. She is an ordinary retired worker. Recently, she has been tricked into joining the virtual currency. I just want to ask whether it is the old lady who keeps up with the times or the swindlers who are all pervasive? The wise man should analyze it by himself. My conclusion is that the world is clear and the swindler praises it.

2. At present, bitcoin is only a small-scale large-scale experiment of socialization, which has not been widely recognized. Most countries in the world adopt a cold attitude towards bitcoin, and the future of bitcoin is not clear. The Shanzhai currency, which replaces bitcoin, may be the future currency and can be recognized by the majority of the world

however, bitcoin is still the most popular decentralized virtual currency so far, but no one can guarantee that it will always be in this position. Now there are some alternative currencies inspired by bitcoin. However, a more reasonable assumption is that the new currency needs significant improvements to replace bitcoin in the established market. Of course, these are still unpredictable. Without changing the basic composition of the protocol, bitcoin may also adopt some measures to improve the competitive currency

I feel that Shanzhai currency can only occupy some bitcoin markets, but it can not replace bitcoin. For example, dog money has seized the charity and small reward market; Fuyuan currency seized the market of commercial integral system; Diablo has taken over the geek market (better sex) and so on.

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. In a system with many nodes, each node has a high degree of autonomy. Nodes can connect freely to each other to form a new connection unit. Any node may become the stage center, but it does not have the mandatory central control function. The influence between nodes will form nonlinear causality through the network. This open, flat and equal system phenomenon or structure is called decentralization
this is the reason for the decentralization of digital currencies such as bitcoin, Ruitai and Qianjin.

5. Litecoin

litecoin (LTC), released on October 7, 2011, is the most valuable counterfeit coin at present, accounting for about 2% of BTC's market value. The current unit price is US $2.31, with a total currency value of US $38 million

this is also a distributed (decentralized) digital currency. Unlike the sha256 mining algorithm used by bitcoin, LTC adopts scrypt algorithm. Scrypt algorithm uses sha256 as its subroutine, and scrypt itself needs a lot of memory. Each hash is used as the seed of the input, and then it needs a lot of memory to store another pseudo-random sequence to generate the pseudo-random points of the sequence and output the hash value. In the mining of BTC (bitcoin), it is not enough to rely on simple graphics card mining (it takes about ten to dozens of days to dig a BTC with general configuration graphics card). The emergence of various expensive mining machines has raised the threshold for ordinary people to get BTC through mining, while LTC has certain advantages in using PC graphics card mining This passage comes from Zhihu.)

compared with BTC, litecain has made a little improvement in technology. If BTC is gold now, LTC is silver for the time being

the biggest advantage of litecoin is that it can confirm the authenticity faster. The virtual currency is designed and maintained by Charles Lee. Bitcoin transactions need to be verified, and the average verification time is more than 10 minutes. Most transaction websites need 1 hour to verify. The average transaction confirmation time of liteoin is 2.5 minutes. Developers claim that shortening the verification time increases the practicability of virtual currency. The bitcoin mining efficiency of customized machine and AMD GPU is the highest, making it almost unprofitable for miners using CPU mining. Litecain's mining excludes GPUs and custom processors, so it doesn't rely too much on a small number of professional miners

ppcoin

ppcoin (PPC) was released on August 19, 2012, which has improved the original technology of BTC. Use proof of make and add the concept of coin age

ppcoin is a bifurcated project of bitcoin, which aims to achieve energy efficiency and maintain the best performance of the original bitcoin as far as possible. The unit price of ppcoin is US $0.22 and the total currency value is US $4 million

ppcoin does not have a fixed upper limit of money supply, but it does not mean that ppcoin has obvious inflation compared with bitcoin. Bitcoin can be compared to gold. The annual inflation rate of gold is about 1-3%. Although gold has no known upper limit of money supply, we still know that it is a reliable scarce commodity

ppcoin has two types of casting: work certificate and equity certificate. The coinage rate of working proof is affected by Moore's law, which depends on the doubling of our working proof ability. What we all know is that Moore's law will eventually come to an end. By then, the ppcoin of inflation may be close to the gold level. The annual maximum inflation rate of certificate of equity is 1%. At the same time, ppcoin's transaction costs were destroyed to fight inflation. So on the whole, the coin design of ppcoin is still a very low inflation design in the future, which can be comparable with bitcoin<

ppcoin's reward is similar to lottery, which will determine the winning probability according to the number of ppcoin held by miners. Sunny king, one of the founders, said that their design is based on a new concept of long-term energy efficiency

terracoin

terracoin (TRC) was released on October 26, 2012, with a total currency of 42 million. The speed of each block is 2 minutes, slightly faster than LTC. There is not much special in technology, similar to the proction of BTC halved every four years

however, the operation team seems to have a strong business background and may be better than other bitcoins in circulation. The development of virtual currency is getting more and more attention. Now some teams with business background will accelerate the development of virtual currency

namecoin

namecoin is a distributed domain name system based on bitcoin technology. Its principle is the same as bitcoin. The first release date of this open source software is April 18, 2011

namecoin is generated from an original block which is different from bitcoin's main trading block. It uses a new blockchain, which is independent of bitcoin's blockchain. Because it is based on bitcoin, the security, distribution, robustness, encryption and migration of domain names are guaranteed mathematically. You can dig bitcoin and namecoin at the same time

this project was discussed and proposed by bitdns, which is mainly dissatisfied with the defects of DNS. The only top-level domain name of namecoin is. Bit. It costs namecoin to register a. Bit domain name.

6. Blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. Blockchain is an important concept of bitcoin. It is essentially a decentralized database. There are more and more applications of blockchain, but the main application is bitcoin. After all, it can make money by investment. If you are interested, you might as well open an account number at the okex bitcoin exchange.

7.

Buddha said: 500 times of looking back in the past life in exchange for a pass in this life, so how many times do I have to look back to really live in your heart

from Xi Murong's "looking back"

looking back on the whole poem:

Buddha said: 500 times of looking back in the previous life can be replaced by a brush in this life

so how many times do I have to look back to really live in your heart

in my previous life, I often look back

my farewell handkerchief floats into a cloud

how much Acacia and how much sorrow of separation

finally becomes a water mark to send me away

in this life, I look for the lost footprints of the past life

wading through mountains and rivers into your eyes

500 times of looking back in the past life in exchange for a pass in this life

I use 1000 times of looking back in exchange for a stop in front of you in this life

ask the Buddha: how many times do I have to look back to really live in your heart

the Buddha is speechless, I can only look back again and again

like a moth to the fire

regardless of the consequences can be no reason

look back again and again

thousands of times, you are in my heart in my eyes

I look back again and again looking forward to your tenderness

I look back again and again looking forward to the Long Xiang Si Shou

in my previous life, I look back in the boat

lotus leaf A piece of sadness in my eyes

Buddha in this life helps me miss

let me walk into your eyes

I've been looking for a long time and I'm tired

just want to rest in your arms

just want your hands to wipe away the tears on my face

just want your body temperature to warm my cold hands

don't ask me why I'm so far away in this life Looking for you

I didn't drink Mengpo soup, I'm worried about you

don't ask me why I cry

I didn't drink Mengpo soup, I still remember the despair in my heart when I left my previous life

say I cry with joy

tears fall on your lap

all kinds of sorrows in my previous life turn into a dense lilac tree

I just want to join hands with you under the tree Looking at the five petaled flower, I still look back frequently in this life

I still don't drink Mengpo soup in this life

in the afterlife, I will look for you all the way

in the afterlife, I will look for the five petaled clove hand in hand with you

extended materials :

in 1963, Xi Murong graated from the Department of fine Arts of Taiwan Normal University, In 1966, he studied at the Royal Academy of Arts in Brussels, Belgium, and won many awards such as the Royal Belgian gold medal and the Brussels municipal government gold medal. He has written more than 50 kinds of poems, essays, picture albums and anthologies. His poems such as Qilixiang, youth without complaint and a flowering tree are well-known and become classics

Xi Murong's works are mostly about love, life and homesickness, which are extremely beautiful, elegant and clear, lyrical and flexible, full of sincere love for life, and affect the growth of a whole generation

8.

1. Efficiency is different: the efficiency of decentralized network is higher than that of centralized network, but conversely, the security of centralized network is higher. On the whole, centralized network is suitable for high security applications

2. Different characteristics: centralized network means that each time two client computers communicate with each other through the server. The decentralized network is the initial need to go through the server, later communication does not need the server

3. Different costs: the characteristics of collective maintenance of blockchain can rece a lot of costs. The centralized network involves the maintenance, confidentiality, operation and so on of many systems, which must require a lot of human, financial and material resources. These things do not exist for the decentralization of blockchain, so they can save a lot of costs

extended materials:

precautions:

in the aspect of blockchain governance, an interesting trend recently is the re emergence of online virtual currency holder voting as a multi-purpose decision-making mechanism. Sometimes the vote of the coin holder is used to decide who runs the super node of the network (e.g. dpos in EOS, Neo, lisk and other systems), sometimes the protocol parameters are voted (e.g. the upper limit of Ethereum fuel supply), and sometimes the vote and direct application of approval (e.g. tezos) protocol upgrade are also concted

in all these cases, voting is automatic, and the protocol itself contains all the logic needed to change the verifier set or update its own rules, and automatically responds to the voting results