What is the white paper on virtual currency

2. Virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"
according to the notice and announcement issued by the people's Bank of China and other departments, virtual currency is not issued by the monetary authority, does not have legal compensation and mandatory monetary attributes, is not a real currency, does not have the same legal status as currency, cannot and should not be used as currency in the market, and citizens' investment and transaction of virtual currency are not protected by law
response time: December 10, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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https://b.pingan.com.cn/paim/iknow/index.html

3.

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:

① digital currency

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 cost

③ 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 technology

4. 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 agreement

bitcoin 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

4. There are white papers
to see if the white papers are shoddy

5. When it comes to "modeling", we can only rely on "appearance design"

according to the definition of "appearance design", it refers to the new design of proct shape, pattern or their combination, as well as the combination of color, shape and pattern, which is aesthetic and suitable for instrial application

it can be seen that the carrier of modeling must be "proct". If your "coin" is a souvenir or decoration, it should be a proct and can be declared. But if your "coin" belongs to money, it can't.

6. Have a look back
diamond and rust jonbaya

My God! Your phantom appears again
but it's not unusual
just because of the full moon tonight, you happen to call
I'm sitting here on my mobile phone
listening to my familiar voice, it was a few light years ago
as if falling down continuously

vaguely remember that your eyes are bluer than robin's eggs (note)
you said that my poem is terrible
& quot; Where are you calling from& quot;< br />" At a phone booth in the Midwest
ten years ago, I bought cuff links for you, and you also gave me some things.
we all know what memories can bring us.
they give us diamonds and rust.

when you suddenly appear in front of me, you are already a legend.
a phenomenon that can't be guarded against.
a real tramp, you drift into my arms,
and your stay, Like a short voyage on the sea
with the blessing of the virgin

to protect you from being hurt

now, I see you standing in the yellow leaves
your hair covered with snow
you smile,
in front of the window of the hotel overlooking Washington Square
you and I exhale like white clouds
condensing in the cold air
for me
we almost died at that time

now you say to me, You are not nostalgic
so please find another word to replace
you have always been good at playing with words
to make it ambiguous and difficult to understand
because now I just need such ambiguity
everything in the past is too clear
Yes, I love you deeply
if you give me diamonds and rust again
I will tell you that I have paid a price, When they come into contact with old Western songs, there are several pieces that they can't do. On the one hand, they can practice their playing skills. On the other hand, they have beautiful melodies that last for a long time< After Joan Baez, an American folk song, there are several such works handed down from generation to generation, such as "Donna, Donna", "the night they drop Old Dixie Down" and "diamonds and rust". Among them, "diamonds and rust" is a more difficult piece
Joan Baya has a clear, pure voice and mature skills. Many famous composers are willing to provide her with works to sing, so most of her well-known songs are not written by herself. "Diamonds and trust." is the most well-known one of her own songs
the lyrics of this song are lengthy and the images are complex, so many people can't understand the meaning even after looking up the new words in English. The reason is that the lyrics are about a personal relationship with Joan Baya< In the 1960s, she met Bob Dylan, later known as "the father of folk rock" and the most famous work was "blowing in the wind". They both cherished each other and appreciated each other's talents, so they had a secret love affair
the relationship ended in nothing. In 1975, Joan Baya wrote this song, which is based on the feelings of her teacher and friend. Later, "diamond and rust" is also considered to be her best composition
in English, "diamond" is often compared to "good things in memory". There is a song called "some days are diamonds, some days are stones." its metaphor is similar, while "rust" and "stone" are used to refer to "bad things in memory".

7. It seems that on October 31, 2008, Satoshi Nakamoto published the white paper of bitcoin for the first time, and proposed to realize value transfer through decentralized bitcoin network.

8. In 2008, the financial crisis occurred in the United States, which spread to all parts of the world. The legal currencies of various countries depreciated greatly, and the money in people's hands became worthless
on November 1, 2008, at this historic moment, a person who called himself Nakamoto Tsung published a paper called "bitcoin: a peer-to-peer e-cash system" on the Internet, in which he described a new digital currency system: bitcoin
bitcoin system is a decentralized digital currency system, which solves the issue and circulation problem of constant amount of money without a central institution. By transferring money through bitcoin system, information is open and transparent, and bitcoin can be safely transferred to people at the other end of the earth. Every transfer information will be recorded by the whole network. The white paper also marks the birth of bitcoin's underlying technology blockchain< br/>

9. Here is a brief introction to the origin of bitcoin white paper
on November 1, 2008, a mysterious cryptography geek named Satoshi Nakamoto released the white paper
in January 2009, bitcoin was born, so this white paper is the origin of bitcoin

Internet search: "sister coin teaches you bitcoin" or "sister coin"