Convertible virtual currency
Background: the financial application of blockchain technology brings high investment value
2018 China international big data instry Expo opened in Guiyang City, Guizhou Province on the 26th. At the meeting, it was pointed out that China will vigorously develop the digital economy in the future, deeply implement the action plan for the development of big data and cloud computing, and deeply study blockchain technology and application. Especially in the field of finance, the landing application has become the focus of the scientific and financial circles
1. The value source of blockchain is that it can perfectly solve the pain points of the current financial instry:
in today's asset securitization, insurance, supply chain finance, commodity trading, asset custody and other financial scenarios, e to many participants, high cost of credit evaluation, low settlement efficiency of intermediary institutions and other reasons, Traditional financial service methods are difficult to effectively solve the long-standing core pain points in the instry, such as information asymmetry, complex and rendant processes, and high information verification cost
2. Why can blockchain solve the above pain points:
blockchain technology integrates many basic technologies, such as distributed accounting, tamper proof, built-in contract, etc., and constructs a trust building mechanism with lower cost. The financial application based on blockchain technology can realize the ability of all market participants to obtain all transaction information and asset ownership records in the market without discrimination, and effectively solve the problem of information asymmetry; Smart contract embedding reces the error rate of payment and settlement, simplifies the process and improves efficiency; At the same time, based on transparent information and brand-new trust mechanism, there is no need to spend manpower, material resources and financial resources to confirm information among participants, which will greatly rece the trust cost between institutions, and then rece the price of financial services and transaction costs
3. The application of blockchain technology in the financial field mainly includes the following aspects:
among which bitcoin is the most famous. On the basis of bitcoin, a large number of other types of decentralized digital currencies have been derived. Such as: the heyday of bits
Compared with the traditional payment system, blockchain payment can directly carry out end-to-end payment for both parties without the help of the banking system, which can greatly improve the speed and rece the cost③ digital bills
④ bank credit management: the advantage of blockchain is that it can rely on program algorithm to automatically record credit related information and store it on every computer in the blockchain network, with transparent information, tamper proof and low cost
The major financial institutions and exchanges in Europe and the United States have explored the application research of building the next generation of financial asset trading platform based on blockchain technology4. The development prospect of blockchain. The future development of blockchain technology will have the most vitality with alliance chain as the entry point, and will have a significant effect and far-reaching impact on the transformation of traditional financial instry pain points
in response to the good investment prospects of blockchain, domestic enterprises such as Alibaba, Jingdong and Netcom have entered the market. The application of financial scenarios based on blockchain technology not only brings us security and convenience, but also provides us with broader investment space. The rise and price surge of digital currency represented by bitcoin (bitcoin was about RMB 20 cents when it was first listed in 2009, and its current price is about US $7300!) It's the best proof that people with a keen sense of smell have made a lot of money from it
Abstract: This is an encrypted digital currency based on the bitcoin developed by Nakamoto Tsung, which improves and adds many new functions, such as the double-layer reward system network, also known as the main node network. It also includes anonymous payment to improve the interchangeability (bitage) and real-time payment function docking to realize real-time transaction confirmation without relying on the authority of the center (P2P mall) In 2009, Nakamoto put forward the concept of bitcoin. Since then, bitcoin has spread rapidly in mainstream applications and commercial uses, becoming the first digital currency to attract a large number of users, which is a milestone in the history of digital currency. However, from the perspective of completing the transaction, we can find an important problem, that is, it takes too long for bitcoin block to confirm the transaction. Traditional payment companies have found a solution to enable the buyer and the seller to realize zero confirmation of bitcoin transaction, but this solution usually requires a trusted third party to complete the transaction outside the agreementbitcoin provides pseudonym transaction, realizes the one-to-one transaction relationship between sender and receiver, and can always record the transactions occurred in the whole network. Bitcoin only provides low-level privacy protection, which is well known in academia. Despite this deficiency, many people still believe in the transfer history recorded by blockchain
based on Nakamoto's achievements, bitshengshi is an encrypted digital currency with the purpose of protecting privacy. We have made a series of improvements on the basis of the concept of bitcoin, resulting in a decentralized cryptocurrency with good anonymity. It supports tamper proof real-time transactions, and has a point-to-point sub network that can provide service reward system for bitsheng network
2. Master node network
the whole node is the server running on the P2P network, so that small nodes can use them to accept the dynamic changes from the whole network. These all nodes need significant traffic and other resources that consume a lot of cost. Therefore, it will be observed that the number of these nodes on the bitcoin network presents a steady downward trend over a period of time, so that the block broadcast time needs an additional 40 seconds. In order to solve this problem, many solutions have been put forward, such as the introction of Microsoft Research's new incentive plan and bitnodes incentive plan
Figure 6: Mining reward model
after finding this kind of person, trade the currency to this person in the place where the virtual currency is used [for example, the forum currency is in the forum, and the game currency is in the game], and then use Taobao and other online stores to let them buy non physical goods, and their RMB will be transferred to your account
not all virtual currencies are bought with real money.
(revised according to the Seventh Amendment to the criminal law) article 224-1 of the criminal law: in the name of business activities such as selling goods and providing services, organizations and leaders require participants to obtain the qualification of joining by paying fees or purchasing goods and services, and form levels according to a certain order, and directly or indirectly use the number of development personnel as the basis for remuneration or rebate, Luring or intimidating participants to continue to develop pyramid selling activities that involve others, defraud property, and disrupt economic and social order< According to Article 7 of the regulations on the prohibition of pyramid selling, the following acts belong to pyramid selling:
(1) organizers or business operators, through developing personnel, require other personnel developed by the developed personnel to join, and calculate and pay remuneration (including material rewards and other economic benefits, the same below) to the developed personnel based on the number of personnel developed directly or indirectly, Seeking illegal interests
(2) the organizer or business operator, through the developer, requires the developed person to pay fees or pay fees in disguised form by way of subscribing for commodities, so as to obtain the qualification of joining or developing other persons to join and seek illegal interests
(3) the organizer or business operator, through the development personnel, requests other personnel developed by the development personnel to join, forms the relationship between the upper and lower line, and calculates and pays the online remuneration based on the sales performance of the lower line, so as to seek illegal interests
in the regulations on the prohibition of pyramid schemes, the concept of hierarchical relationship is repeatedly mentioned. The hierarchical relationship formed by certain rules is only a phenomenon in many pyramid schemes. It must be related to the illegal possession of other people's property before it can be suspected of pyramid schemes.
on November 10, 2018, m chain was invited to participate in the world blockchain conference · New York technology conference
on November 27, 2018, the blockchain tycoon went to Korea
on December 8, 2018, m Party & the largest jungle hotel in history opened
on December 10, 2018, "m chain has an appointment with you" conference was held in Guangzhou
on December 15-17, 2018, m chain was invited to participate in the Hong Kong Station global blockchain Developers Conference
on December 29, 2018, m chain global launching conference was successfully concluded in nexus connexion Bangsar, Kuala Lumpur, Malaysia
on January 6, 2019, gbls global sleepless blockchain leaders summit · annual ceremony was successfully held, and M chain won the double awards of "global blockchain annual investment value project" and "global blockchain annual value community"
on January 11, 2019, m chain was invited to attend WBF Shenzhen Technology Conference
on January 15, 2019, m chain successfully landed in EXX, one of the top ten exchanges in the world
every event marks the recognition and achievements m chain has gained along the way.