What does volume mean on digital currency

1. Hello, digital currency contract, also known as futures contract. In short, it's business in the future. For example, the 58coin exchange has formulated a standardized contract that stipulates the delivery of a certain quantity and quality at a specific time and place in the future. The vast majority of users use the margin system of futures contracts, add 10 or even 20 times leverage to leverage big funds, and then use the index fluctuation to buy low and sell high trading contracts, so as to earn double profits.

2.

"Transaction is mining" is a typical platform operation mode. Users mine through transactions. Some platforms will issue their own tokens as rewards for users' trading behavior

Relevant introction:

in June 2018, the cryptocurrency exchange fcoin put forward the concept of "trading is mining", and in a short period of time, the daily trading volume rose to the first in the world, triggering a war between exchanges

"transaction is mining" is actually a return mechanism of personal transaction fees based on platform currency. Strictly speaking, there were similar playing methods before the establishment of fcoin. For example, bibox had a mechanism to return a certain proportion of fee income to platform currency holders

extended data

fcoin's "transaction is mining" is repackaged. Following the allocation rules of bitcoin mining, 51% of platform currency ft is taken as the mining reward pool. Through "mining (trading on fcoin)", FT is graally unlocked. Once 51% of FT is fully fed back, "mining" is automatically terminated

in terms of specific implementation, fcoin trading means mining starts at 0 o'clock every day (GMT + 8), and the transaction fees generated by users will be converted into ft for accumulation every hour. The conversion price is calculated according to the average price of FT in that hour (the average price is calculated as total transaction amount / total trading volume)

3.

K is 100000, M is million

is usually distributed and managed by developers and accepted and used by members of specific virtual communities. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form

low transaction cost compared with traditional bank transfer and remittance, digital currency transaction does not need to pay fees to the third party, and its transaction cost is lower, especially compared with cross-border payment which provides high handling charges to payment service providers

extended data:

according to the relationship between digital currency and real economy and real currency, it can be divided into three categories:

one is completely closed, has nothing to do with real economy and can only be used in specific virtual communities, such as magic world gold

Second, it can be purchased in real currency, but can not be converted back to real currency, and can be used to purchase virtual goods and services, such as Facebook credit

Thirdly, it can be exchanged and redeemed with real currency according to a certain ratio, which can purchase both virtual goods and services and real goods and services, such as bitcoin

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6. It is calculated according to the number of currencies. For example, when the price of bitcoin is 20000 US dollars, 20000 US dollars is one and 10000 US dollars is 0.5 transaction volume. The same is true for other currencies