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Terminology in digital currency transactions

Publish: 2021-05-19 03:28:08
1.

blockchain blockchain is a new application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism and cryptocurrency algorithm. Is a shared distributed ledger in which transactions are permanently recorded through additional blocks

2, block - block

in the bitcoin network, data will be permanently recorded in the form of files, which we call blocks. A block is a set of records for some or all of the latest bitcoin transactions and is not recorded by other previous blocks

3. Node -- a of the ledger operated by the participants of the blockchain network

Decentralization is a phenomenon or structure, which can only appear or exist in a system with many nodes or in a group with many indivials. The influence between nodes will form nonlinear causality through the network

5. Consensus mechanism

consensus mechanism is to complete the verification and confirmation of the transaction in a very short time through the voting of special nodes; For a transaction, if several nodes with unrelated interests can reach a consensus, we can think that the whole network can also reach a consensus

6. POW -- proof of work refers to how much money you get depends on the amount of work you contribute to mining. The better the performance of the computer, the more money you will be given

In POS mode, your "mining" income is directly proportional to your currency age, and has nothing to do with the computing performance of the computer

8. Smart contract

smart contract is a kind of computer protocol which aims to spread, verify or execute the contract in an information way. Smart contracts allow trusted transactions without a third party, which are traceable and irreversible

9, time stamp

time stamp refers to the string or encoding information used to identify the recorded time and date. The international standard is ISO 8601

Turing completion refers to the ability of a machine to perform calculations that any other programmable computer can perform

DAPP decentralized application is an open source application that runs automatically, stores its data on the blockchain, motivates it in the form of cryptocurrency token, and operates with protocols showing valuable proof

Dao, a decentralized autonomous organization, can be regarded as a company that operates without any human intervention and gives all forms of control to a set of unbreakable business rules

13. Privatekey - private key

a private key is a string of data that allows you to access a token in a specific wallet. As cryptocurrency, they are hidden except for the owner of the address

14. Publickey -- public key

is paired with private key. The public key can calculate the address of the currency, so it can be used as a certificate to own the address of the currency

15, miner

try to create a block and add it to the computing device or software on the blockchain. In a blockchain network, when a new effective block is created, the system will automatically give the block creator (miner) a certain number of tokens as a reward

16. The mine pool is a fully automatic mining platform, which enables mining machines to contribute their computing power to mine together to create blocks, obtain block rewards, and distribute profits according to the proportion of computing power contribution (that is, mining machines access the mine pool - provide computing power - obtain income)

17, public chain

fully open blockchain, refers to anyone can read, anyone can send transactions and transactions can be effectively confirmed, people all over the world can participate in system maintenance, anyone can read and write data through transactions or mining

18. Private chain

write permission is only for the blockchain of a certain organization or a specific few objects. Read permission can be open to the outside world or restricted to any extent

19, alliance chain

consensus mechanism is a blockchain jointly controlled by several designated institutions

20, side chain

wedged side chains technology, which will realize the transfer of bitcoin and other digital assets between multiple blockchains, which means that users can access the new cryptocurrency system when they use their existing assets

21, cross chain technology

cross chain technology can be understood as a bridge connecting the blockchains, and its main application is to realize atom transaction, asset conversion, information exchange within the blockchain, or solve Oracle problems among the blockchains

22. The hard fork

blockchain has permanent divergence. After the release of the new consensus rules, some nodes that have not been upgraded cannot verify the blocks proced by the upgraded nodes, and usually the hard fork will occur

23, soft forking

when the new consensus rules are released, nodes that have not been upgraded will proce illegal blocks because they do not know the new consensus rules, which will lead to temporary forking

24, hash -- hash value

generally translated as "hash", but also directly transliterated as "hash". In short, it is a function that compresses messages of any length to a message digest of a fixed length

25, main chain

the word "main chain" comes from the main network (, relative to the test network), that is, the officially online and independent blockchain network

for those who don't know the "jargon" in the currency circle, let's learn it as soon as possible:

1. What is legal currency

legal currency is legal tender, which is issued by the state and the government. It is only guaranteed by the government credit, such as RMB, US dollar and so on

2. What is a token

token, usually translated into token. Token is one of the important concepts in blockchain. Its more well-known name is "token". However, in the view of professional "chain circle" people, its more accurate translation is "token", which represents a proof of rights and interests on the blockchain, rather than currency

There are three elements of

token

one is digital proof of rights and interests, which must be in the form of digital certificate of rights and interests, representing a right, an inherent and intrinsic value

The second is cryptocurrency, whose authenticity, tamper proof and privacy protection are guaranteed by cryptocurrency

Third, it can flow in a network, so it can be verified anytime and anywhere

3. What is warehouse building

the establishment of a position in a currency circle is also called opening a position, which refers to a trader's new purchase or sale of a certain amount of digital currency

What is Soha

suoha refers to investing all the principal

What is airdrop

airdrop is a very popular marketing method of cryptocurrency. In order to let potential investors and cryptocurrency enthusiasts get token related information, token teams often air drop tokens

6. What is lockup

position locking generally refers to investors opening a new position opposite to their original position when the market moves in the opposite direction after the sale and purchase contract, which is also called lock, lock order, or even butterfly double flying

What is candy

doughnut candy is a kind of free digital currency issued to users when all kinds of digital currencies are just issued in ICO. It is a kind of momentum and publicity of the project itself by the issuers of virtual currency projects

What is breaking

breaking refers to falling below, and issuing refers to the issuing price of digital currency. Broken currency circle refers to the price of a digital currency falling below the issue price

What is private placement

private placement is a way to invest in cryptocurrency projects, and it is also the best way for cryptocurrency project founders to raise funds for platform operation

What do you think of the K-line diagram

K-line chart is also called candle chart, Japanese line, yin-yang line, bar line, red and black line, etc., commonly referred to as "K-line". It is based on the opening price, the highest price, the lowest price and the closing price of each analysis cycle

What is hedging

General hedging refers to two transactions which are related to the market, opposite in direction, equal in quantity and balanced in profit and loss. In the futures contract market, buy the same number of positions with different directions. When the direction is determined, close out the positions in the opposite direction and keep the positive direction to make profits

What is the position

position is a kind of market agreement, which promises the initial position of the sale and purchase contract, and the buyer is long and in the expected position; The selling contract is short and in the expected position

What are the advantages

good news: refers to the news that the currency gets the attention of the mainstream media, or a breakthrough in the application of a technology, which is concive to stimulating the price rise

14. What is bad news

bad news: news that causes the price of bitcoin to fall, such as technical problems of bitcoin, central bank's crackdown, etc

What is rebound

the phenomenon of currency price rising e to rapid decline in the downward trend. The recovery is less than the decline

What is leverage

leverage trading, as the name suggests, is to use small amount of funds to invest several times the original amount, in order to obtain multiple returns or losses relative to the fluctuations of the investment object

2.

Digital money (electronic money or electronic currency) is a kind of money in digital form (different from paper money and coins)

it shows properties similar to physical currency, but it can allow real-time transaction and borderless ownership transfer. Examples include virtual currency, cryptocurrency and currency issued by central bank and recorded in computer database (including digital base currency)

like traditional currencies, these currencies may be used to purchase physical goods and services, but they may also be restricted in some communities, such as online games

digital currency is the currency balance that is electronically recorded on stored value cards or other devices. Another form of electronic currency is network currency, which allows value transfer on computer network, especially on the Internet. E-money is also a creditor's right to other financial institutions such as private banks or bank deposits

digital money can be centralized, that is, it has a central point to control the money supply, or it can be decentralized, that is, the control power can have different sources

3. Digital currency exchange and IPO are very similar. There are also securities companies (market makers) and money fees (listing fees and recommendation fees). But the difference is that IPO has law firms, clubs and currency circles. There is only one consensus, and then asset liquidity banks look at market makers to provide.
4. 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.
5. Lightcoin is a kind of network currency based on "peer-to-peer" technology. It is also an open source software project under MIT / X11 license. It can help users make instant payments to anyone in the world, as is the case with dcpro.
6.

"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)

7. First, the capacity of the exchanges on the market is limited, and there are strict restrictions on listing conditions, which objectively requires the existence of point-to-point market

Second, OTC trading is relatively simple and flexible, meeting the needs of investors

thirdly, with the development of computer and network technology, the over-the-counter trading is constantly improving, and its efficiency is comparable to that of the floor trading< Fourthly, the transaction cost is low. Because the buyers and sellers trade directly without brokerage service, their commission is much less than that in other markets

the fifth point is to improve the confidentiality mechanism. Because there is no need to go through a broker, it is concive to anonymous transactions and keep the confidentiality of transactions< The sixth point does not affect the securities market. If block trading is carried out in the stock exchange, it may have a greater impact on the price of the stock market

the seventh point is that the information of the whole platform is sensitive and transactions are fast

peer to peer trading is like a green rose outside the window, a hope growing in the wind and rain. How can we say that opportunities are coming? In fact, the purpose of supervision is nothing more than that the exchange does not have any national certification as the basis, and a large amount of funds are stored on the platform, which can not avoid the risk of running the exchange. But the point-to-point does not exist, and the funds no longer gather on the platform. Is it necessary for the operators to run without money? It can be imagined that many people in this situation want to throw money, but the platform is not allowed to go up. There are countless coins that want to be sold at a low price, so what should we do? At that time, we went to the point-to-point trading platform and sold it at a low price. People with vision went to develop a point-to-point trading platform. In troubled times, there was another opportunity to make wealth

the development of point-to-point trading platform many people think that the digital assets represented by bitcoin are the inevitable proct of the development of Internet technology and the largest practice of blockchain technology at present. Bitcoin's blockchain network may become the underlying network of other public chains, which may have a far-reaching impact on the real economy. Even if the report is true, it is still legal to hold and trade bitcoin in China. There is no need to panic excessively. Bitcoin can still be traded and realized in a point-to-point manner. The progress of technology in the world can not be stopped. China has occupied a certain leading edge in the development of blockchain. I believe that China will also be at the forefront of the world in the future.
8. It refers to the price fluctuation of any currency, in a certain price point, the rapid rise and fall, the K-line chart shows a longer upper shadow line, or the rapid break down and rebound, the K-line chart shows a longer lower shadow line. In the case of currency speculation, it is suggested that 58 coin should be handed over to & RLM; Yi & RLM; By.
9. It seems that there is no need for specialized technical personnel to maintain it. The company's internal personnel can use it when they need it. They don't need to pay any labor cost to maintain it. At most, they can maintain their own enterprise's external information disclosure.
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