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Can digital currency be used after power failure

Publish: 2021-03-30 14:24:04
1.

digital currency is a general term used to describe all forms of electronic currency, whether it is virtual currency or cryptocurrency. It is a form of data expression of value. Through data transaction, it plays the functions of transaction medium, accounting unit and value storage, but it is not the legal currency of any country or region

the concept of digital currency was first put forward in 1983. They only exist in digital or electronic form. Different from the actual paper money or coins, they are invisible. They can only be owned and used on the Internet through e-wallet or designated network. The advantage of digital currency is that there is no bank, the transaction is instant, and the transaction cost is very low. So: coin, token and virtual currency belong to digital currency

the main characteristics of digital currency

1. In terms of payment and settlement, it does not rely on institutions. It is a publicly accessible digital general ledger maintained by the whole distributed network, which is called "blockchain"

2. In terms of issuance and proction, the essence is to keep accounts on a mutually verified public accounting system. Under a certain algorithm mode, find out a string of random codes that meet the conditions, and then package this string of codes with other transaction information into a block and record them in this account book, so as to obtain a certain amount of digital currency

(3) it has no national boundaries, which makes it flow around the world. Virtual world corresponds to the real world, through the exchange relationship between digital currency and traditional currency, under certain conditions, specific digital currency can buy physical goods, and traditional currency can also buy specific virtual goods

In theory, its distributed general ledger system can prevent any participant from forging digital currency and rece transaction risk

The lower transaction cost of digital currency will promote banks and other financial institutions to improve service level and rece transaction costs

Digital currency and mobile financial business model can promote the development of Inclusive Finance

2. Blockchain was originally a technology of information coding, transmission, encryption, decryption and verification based on the Internet, but in my opinion, it has now risen to a concept of "decentralization", which is essentially an innovation in concept. bitcoin is a specific application of this concept. For example, blockchain is equivalent to e-commerce. Think about 20 years ago, several people understood what e-commerce is. It is also an idea in essence, but this idea must be realized by certain technical means. Bitcoin is equivalent to Taobao, a specific application of e-commerce

to understand decentralization is to understand blockchain. A real blockchain project is to practice the concept of decentralization through reasonable game rule design supplemented by information technology. Bitcoin system is an excellent demonstration project of decentralization concept and blockchain technology. It's no exaggeration to say that I think this is a revolution in the concept of the Internet and another revolution in the equalization of human beings. The last time it broke the inequality in status between people, this time it broke the inequality in the rules of the game itself. Because of this, blockchain can stimulate people's enthusiasm. It is a new thing that sounds like it can overturn all the old rules

why is it called "blockchain"

because Nakamoto designed this account book as a long chain of "packets", each "packet" is called a "block", and each of these blocks has a unique number (in the bitcoin system, the number is called height), which is the natural number 1, 2, 3, 4... All the way down, Jumping, interruption and repetition are not allowed<

the specific rules of blocks are explained below:

the first block was created by the inventor of blockchain "Nakamoto Tsung" personally. On January 4, 2009, Beijing time, on a small server in Helsinki, Finland, the first block was born, which is also called "Genesis block". On this block, the main information is:

the middle paragraph is a memorial of "Nakamoto Tsung" engraved on the first block. Starting from the second block, every block must be created in strict accordance with the rules of bitcoin system. The rules of the block are:

block rules

all the mysteries of the blockchain lie in the random number added to the tail, because it is so mysterious that ordinary people can only enjoy it, so I will call it "Olympiad" later for the convenience of explanation

because there are only two possibilities for each bit of a binary number, 0 or 1, the possibility of making up an Olympic number is one 72nd power of 2, that is, 1 / 4722366482869645213696. That's a dazzling number. It's about 1 in 4.7 trillion. In other words, it takes an average of 4.7 trillion Sha calculations to get an "Olympian number". You can see the value of each "Olympian number"

it may become a New Mathematical Olympiad with no rules to follow.
3. Digital currency is of great significance in asset allocation. One of the characteristics of digital currency is that its correlation with other traditional assets is close to zero, which is very low, and low correlation varieties can often be seen as a tool for investment diversification. When the traditional market encounters extreme events, digital currency has the function of value preservation. So I prefer to use digital currency as a hedging tool. At present, 10% of my assets are invested in bitcoin on the okex exchange. Please accept my answer. Thank you very much. If there is any need, you can ask, thank you!
4. The power failure of residents generally does not affect the use of ATM. Banks have emergency power generation equipment. In addition, ATM uses UPS power supply. If the ATM is powered off, the machine will stop running. Even if the power supply is restored soon, it may cause card swallowing. The bank will handle the unfinished transaction manually ring the reconciliation. But just in case, you'd better go to the bank counter to register or call customer service for help.
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