Lightcoin mechanism

4. 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
for more information about bitcoin, please visit my website
learning bitcoin studybtc

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.

5. Lightcoin, English name is liteoin, short for LTC, was born on November 9, 2011, the founder is Charlie Lee
the purpose of lightcoin is to improve bitcoin, so it has many similarities with bitcoin. In the instry, there is a saying of "bitcoin, lightcoin silver". Compared with bitcoin, the total amount of lightcoin is larger and the confirmation speed is faster
the total number of litecoin is four times that of bitcoin, 84 million; Its proction halved in four years, just like bitcoin; Its consensus mechanism is the same as bitcoin's workload proof mechanism (POW); Its block time is 2.5 minutes, a quarter of that of bitcoin, and it packs a block every 2.5 minutes; The earliest block reward of Laite coin is 50 Laite coins. Up to now (January 2018), Laite coin block reward is 25 Laite coins, with a circulation of about 54 million.

6. In addition to mining and trading, bitcoin has also derived a variety of new ways to play. First, it can be used as a payment currency. According to statistics, at present, the network's security network service websites, Shanda shell, Shanda real estate, shenglv real estate, Shanda crowdfunding website, and more than 10 Taobao sellers all use bitcoin as the payment currency. In addition, recently, many trading platforms have created "financial games" for bitcoin. For example, huocoin.com has implemented "leverage short mechanism", and other websites are specialized in trading bitcoin futures, bitcoin gold futures, bitcoin stock index futures, etc. The player said: "the leverage shorting mechanism of fire coin network stipulates that the amount of money users borrow or borrow is twice of their personal net assets, and their personal net assets are calculated according to the value of bitcoin converted into RMB at that time. The interest of financing and currency financing business is calculated in the form of simple interest, and the interest standard is 0.1% - 0.2% per day. " There are also players see bitcoin potential is not as good as before, then divest into Leyte coin. Lightcoin is bitcoin's "Shanzhai coin", a lightcoin player said: "recently, the price of lightcoin has gone up, like bitcoin, which is just beginning to heat up. The price of virtual currency changes fast. I put it in earlier, and I made a lot of money by playing a stimulus. " The author pays close attention to the price trend of Leyte currency. In two hours, the price rose from more than 70 yuan to more than 120 yuan, and then quickly dropped to more than 90 yuan. Transaction risk can not be underestimated, any investment can not do without mentioning risk, especially bitcoin, which is free from regulation. Retail players on the trading platform are most worried about running away from the platform. One player said: "our money is recharged to the trading platform. We are worried that the platform will disappear overnight. Recently, as many people cashed out and left, the website server collapsed. Once it showed that it was unable to log in, it was a little nervous. " Now there are bitcoin rights groups, the players said: "there is no specific protection for rights, just take precautions." In addition, some players worry that bitcoin will be greatly promoted because it has only 21 million, which is a scarce resource. But the question is whether bitcoin is unique? In fact, now there are many counterfeit coins, once the scarcity is not there, it will be worthless. Others compare bitcoin to the tulip of the Netherlands. After the crazy speculation, the investors who accept the last stick may be the worst, and this person will certainly appear. According to the security report of 360 security center, bitcoin investors mainly face the threat of bitcoin "mining Trojan horse" and investment account number theft. For Internet users who do not invest in bitcoin, there is also the risk of computer "mining" controlled by Trojan horse. In recent months, there have been nearly 10000 variants of Trojan horse. 360 security experts remind that bitcoin investors should pay attention to setting an independent password for the trading account, so as to avoid the password leakage of other websites leading to the cracking of bitcoin trading market account by hackers. Is that ok?

8.

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

9. 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.