Operating mechanism of Laite currency

1. If there is no such good thing, it must be a pyramid scheme

the Leyte coin is proced by mining. At present, bitcoin mining needs professional mining equipment

mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of lightcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network. This process is called "mining" because it's similar to gold panning, because it's also a temporary mechanism for the issue of new lighters. However, unlike gold panning, lightcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last Leyte, mining was still necessary.

2.

Litecoin (LTC, currency symbol: 321;) It 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< better use of digital currency trading platform coin exchange

data expansion:

lightcoin is inspired by bitcoin (BTC), and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol, and is not managed by any central organization. Lightcoin aims to improve bitcoin. Compared with bitcoin, lightcoin has three significant differences. First, the lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the lightcoin network is expected to proce 84 million lightcoins, four times the amount of money issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in lightcoin's workload proof algorithm, which makes it easier to mine lightcoin on ordinary computer than bitcoin. Each Leyte is divided into 100000000 smaller units, defined by eight decimal places

3. If you want to invest, you need to understand. Then make a decision

bitcoin is an e-money payment system based on the global network
bitcoin is an e-money system based on the global decentralized network system, without the participation of central banks and third-party institutions, with a fixed total amount. Bitcoin has the characteristics of payment system and currency at the same time. Global network nodes are maintaining the bitcoin network all day<

English: bitcoin currency symbol: abbreviation: BTC or XBT

Introction to bitcoin by wiki
different from traditional currency, bitcoin's operation mechanism does not rely on the support or credit guarantee of central bank, government and enterprise, but on the network agreement reached with seed files in the network, which is a decentralized and self-improvement monetary system, Theoretically, it ensures that no one, institution or government can control the total amount of bitcoin or create inflation. Its total amount of money graally increased at the designed rate, and the increase rate graally slowed down, and finally reached the limit of 21 million in 2140<

Introction to bitcoin in network
bitcoin is based on a set of cipher codes and generated by complex algorithms. This rule is not interfered by any indivial or organization and is decentralized; Anyone can download and run the bitcoin client to participate in the proction of bitcoin; Bitcoin uses electronic signature to realize circulation, and checks repeated consumption through P2P distributed network. The generation and consumption of each bitcoin will be recorded through the P2P distributed network and informed to the whole network. There is no possibility of forgery. Bitcoin does not rely on specific currency institutions to issue, it is generated through a large number of calculations of specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction<

Introction to bitcoin in interactive network
bitcoin is an electronic currency proced by open source P2P software. Bitcoin does not rely on specific currency institutions to issue, it is generated through a large number of calculations of specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction<

the difference between bitcoin and bitcoin
it should be noted that

in English, the words bitcoin and bitcoin represent two concepts of payment network and monetary unit

bitcoin starting with capital B represents bitcoin network system or bitcoin network protocol, which is a payment system based on decentralized network

you can simply understand bitcoin as a public accounting system built on the Internet and not manipulated by any third party. Bitcoin, which starts with lowercase B, refers to the digital currency (e-money, e-cash, cryptocurrency) built on bitcoin network. Bitcoin is the payment accounting unit built in bitcoin payment system. We call bitcoin the network system that proces bitcoin<

in Chinese, bitcoin and bitcoin are both called bitcoin without distinction in many places

its main features are as follows:
1. Decentralization

bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom< Bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3. Exclusive ownership

private key is required to control bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself

4. Low transaction cost

bitcoin can be remitted free of charge, but in the end, a small transaction fee will be charged for each transaction to ensure faster transaction execution

5. No hidden cost

as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay<

6. Bitcoin is not completely anonymous
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it will take some time to protect privacy when using bitcoin. All bitcoin transactions are publicly and permanently stored in the network, which means that anyone can view the balance and transaction records in any bitcoin address. Unless the bitcoin holder discloses personal information ring the transaction, the bitcoin address will not be associated with the real identity of the bitcoin holder. This is why it is recommended that bitcoin holders use multiple bitcoin addresses; In fact, you should create a new address each time to receive bitcoin. This is especially important when using bitcoin in public places, such as on websites. In addition, you can also consider using tools like tor to hide your IP address from being recorded. Learning bitcoin

7. Bitcoin is still experimental

bitcoin is an experimental new currency in active development. Although its experimentality is diminishing with its increasing usage, remember that bitcoin is a new invention, exploring ideas that have never been tried before, so no one can predict the future of bitcoin.

4. About three years ago, lightcoin was invented by Chinese American Charles Lee, the younger brother of Li Qiyuan, CEO of bitcoin China. Bitcoin house reports

lightcoin is inspired by bitcoin (BTC) and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol and is not managed by any central authority. Lightcoin aims to improve bitcoin. Compared with bitcoin, lightcoin has three significant differences. First, the lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the lightcoin network is expected to proce 84 million lightcoins, four times the amount of money issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in lightcoin's workload proof algorithm, which makes it easier to mine lightcoin on ordinary computer than bitcoin. Each Leyte is divided into 100000000 smaller units, defined by eight decimal places.

6.

The user promises to abide by the following rules of bitcoin trading in the process of entering into bitcoin trading and concting bitcoin trading with other users through bitcoin

1. Browse transaction information

   when browsing bitcoin transaction information, the user should carefully read all the contents contained in the transaction information, including but not limited to bitcoin price, entrusted volume, handling charge, buying or selling direction. The user can only click the button to trade after fully accepting all the contents contained in the transaction information
   

2. submit delegation

   after browsing the transaction information and confirming that it is correct, users can submit transaction delegation. After the user submits the transaction entrustment, that is, the user authorizes niubit to act as the user's agent for the corresponding transaction matching. Niubit will automatically complete the matching transaction when there is a transaction that meets the user's entrustment price without notifying the user in advance
   

3. View transaction details

   users can view the corresponding transaction records in the transaction details of the management center to confirm their detailed transaction records
   

4. revoke / modify a delegation

   before a transaction is concluded, the user has the right to revoke or modify the delegation at any time

7. Lettercoin is network currency
litecoin (abbreviated as LTC, currency symbol: Ł) It 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
lightcoin is inspired by bitcoin (BTC) and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol and is not managed by any central organization. Lightcoin aims to improve bitcoin. Compared with bitcoin, lightcoin has three significant differences. First, the lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the lightcoin network is expected to proce 84 million lightcoins, four times the amount of money issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in lightcoin's workload proof algorithm, which makes it easier to mine lightcoin on ordinary computer than bitcoin. Each Leyte is divided into 100000000 smaller units, defined by eight decimal places.

8. Contract digital network of central digital trading platform