Comparison of four hash algorithms for blockchain digital curren
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to know the difference between them, we need to know the definition of them first
digital currency: short for digiccy, which is the abbreviation of "digital
currency", is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy
blockchain: blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. Blockchain is essentially a decentralized database, also known as the trust machine
from the above definition, we can know that blockchain is a technology, and digital currency is a kind of virtual currency
digital currency is not equal to blockchain
many people will understand blockchain as blockchain. Here I want to correct that digital currency is not equal to blockchain. Digital currency is only an application of blockchain, and some digital currencies may not be applied to blockchain technology.
blockchain is a new computing paradigm and distributed infrastructure, which uses fast chain data structure, distributed node consensus algorithm, cryptography and intelligent contract based on automated script code to proce, verify, store and transmit data. It can also be said that blockchain is a distributed ledger technology, which can provide decentralized trust mechanism in non trust environment, so that multi-party participants can conct secure trust transactions without intermediaries
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.
hash algorithm is a cryptographic algorithm that can only encrypt, but not decrypt. It can convert any length of information into a fixed length string
this string has two characteristics:
1. Even if the input value changes only a little, the output hash value will be very different
2. Only exactly the same input value can get exactly the same output value
3. There is no rule between the input value and the output value, so the input value cannot be calculated by the output value. In order to find the specified output value, we can only use enumeration method: constantly change the input value to find the output value that meets the conditions
hash algorithm ensures that the results of bitcoin mining can not be deced reversely. Therefore, the miner's continuous operation is essentially brutally cracking the correct input value. Whoever finds the first one will get the bitcoin reward.
jinwowo group analyzes the functions of its hash algorithm as follows:
the hash value of the blockchain can uniquely and accurately identify a block. Any node in the blockchain obtains the hash value of the block through simple hash calculation, and the calculated hash value does not change, which means that the information in the blockchain has not been tampered with.
At present, whether a digital currency is a valuable currency basically belongs to the "angel wheel" stage. There are three criteria to determine whether a digital currency is a valuable currency: one is the team, the other is the economic model, and the third is the instry demand
The randomness of theteam is too great, so we will not discuss it here. This paper first makes a detailed analysis of the economic model of digital currency. In the following article, the author will analyze some digital currencies according to different instries
Strictly speaking, the economic model involved in this paper is not completely equivalent to the concept described in economics. Especially in digital currency, currency consensus mechanism and incentive mechanism Consensus mechanism is the strategy and method for each node in the blockchain system to reach an agreement, which should be selected flexibly according to the different types of system and application scenarioscommon consensus mechanisms include pow, POS, dpos, pbft (and its variants), etc. In addition, based on the different application scenarios of blockchain technology and the characteristics of various consensus mechanisms, this paper evaluates the technical level of various consensus mechanisms according to the following dimensions:
A) compliance supervision: whether super permission nodes are supported to supervise the nodes and data of the whole network
b) performance efficiency: the efficiency of reaching a consensus and being confirmed
Resource consumption: CPU, network input and output, storage and other computer resources consumed in the process of consensusd) fault tolerance: the ability to prevent attacks and fraud
1 instry background
looking for Instry pain points: asset management needs professional team and knowledge, but now most digital currency investors do not have it; The fluctuation of digital money market is huge, and investors can't keep the value of assets in the falling market
2 own advantages
in the stock and futures markets for many years, has a mature and high-quality asset management team; AI big data team has strong technical strength
3 Market Research
after market research, it is estimated that the market value of asset management will be about US $1 billion in the next five years
4 total amount of digital currency
after considering the expected asset management market value, development cycle and difficulty, we will consider issuing 2 billion pieces of XT based on Ethereum erc20 digital currency, and never issue additional ones
5 allocation method
early stage investors hold 10%, teams hold 20%, business operation 10%, community construction 10%, and investors hold 50%
6 digital currency release / repo mechanism
the release mechanism can be divided into three categories:
the first category: the money holding part of business operation is fully unlocked, and the purpose is limited to business and operation activities
the second type: the release mechanism of community construction is that community members release exclusive information, cooperation platform release exclusive project progress and so on. According to the number of participating IDS, the corresponding proportion of XT is released (publishers and participants get 50% each) until all the releases are completed (after the release, the follow-up reward comes from the platform profit pool)
the third category: investors hold the mainstream digital currency, conct asset management in the platform, release a certain amount of XT according to the exchange ratio, and the early investors and the team hold part of it synchronously and unlock it according to the proportion
the repo mechanism is: 50% of the profit (in XT) will be returned to the holder; The rest goes into the platform profit pool, and 50% of XT in the profit pool is destroyed monthly until the total number of XT is 1 billion; The rest will be used as platform ecological construction fund
7 digital currency equity
profit sharing: holding XT is for platform users, and they can enjoy 50% of platform profits
platform Governance: participating in platform activities, enjoying XT awards and airdrop activities of other project parties
function customization: Based on platform AI big data, investors can purchase services optimized for indivial trading strategies
In today's era of high development of the Internet, we are using the Internet more and more frequently, which has become an indispensable and important tool in our life. In particular, the mobile phone used for Internet communication has been used as a medium. In today's era, we are using mobile payment more and more, There are more and more ways to move. So what is digital currency? What do you know about it{ But generally speaking, it is a form of money< p> Finally, for such a form of transaction, it's all for the convenience of our daily life, and it's also for serving our own broad masses of people, so we don't have to worry about the advantages and disadvantages of digital currency and mobile payment
it is suggested that netizens should stay away from bitcoin and its related things if they don't understand bitcoin. This netizen can send me a private letter and tell me what you know. I will sort out and report on it.