Virtual currency ripple of US stock market
Reborn currency is the same as bitcoin in nature. They are both virtual currencies. When someone speculates, they are valuable. If one day the big boss makes enough money and sells a lot, it will be almost like waste paper. There are risks in investment, so we should be cautious in buying virtual currency
a good trading platform is supervised and managed by banks, such as the supervision of FSP and NFA, and the deposit of customers' funds by the Hongkong and Shanghai Banking Corporation
extended information:
because ripple labs officials do not care about the price of Ruibo currency, they do not want people to make the price of Ruibo currency rise greatly in the short term through speculation
therefore, the price fluctuation of reborn may be smaller than that of other virtual currencies, but in the long run, the price of reborn will graally show up with the development of ripple agreement, but any investment is risky. It is suggested that we invest rationally and make a reasonable judgment on its value
reference: Network - reborn coin
The securities and Exchange Commission (SEC) identified XRP as a security, and hired 21 lawyers to step up preparations to fight the SEC's lawsuit against XRP
at present, the case is still in progress, and the result will be known in the next few months
decentralization, a political concept first proposed by the British philosopher John Locke, was used by hyperledger in the distribution of power in the payment system. As shown in the figure below, the first is the "centralized" network of general national and third-party payment systems, the third is the bitcoin type point-to-point "decentralized" network, and the second is the payment protocol system established by hyperledger
hyperledger is an open source platform that allows anyone to issue personal currency. Hyperledger open source payment protocol was first founded by Daniel Feichtinger from Hong Kong. He is the core developer of hyperledger and the inventor of distributed consensus mechanism. Dan o'prey, another member of hyperledger, joined in April as co-founder. Prior to that, o'prey founded a visible cloud computing tool, macdeyun. The company base is in Beijing to help developers use Amazon AWS more easily. It obtained $1.5 million from Sequoia Capital in the early stage. O'prey left his position as CEO three months ago. O'prey joined hyperledger in charge of marketing and business development. Currently, hyperledger's server and client code has been uploaded to GitHub
the proposal of hyperledger payment agreement is largely influenced by ripple. At the end of the Q & a page of the hyperledger website, the team said that hyperledger can be seen as an alternative or supplementary system to ripple
ripple is another promising digital currency after bitcoin. The biggest difference between ripple and bitcoin is that their logic is just the opposite. Bitcoin is first a digital currency, and then a means of payment based on it; Ripple's idea is to make payment easier. First of all, payment. In order to make payment more convenient and currency circulation, ripple created its own virtual currency XRP
in ripple payment network, you can transfer any currency, including US dollar, euro, RMB, Japanese yen or bitcoin, which is easy and fast. The transaction confirmation is completed within a few seconds, and the transaction cost is almost zero. There is no so-called cross-bank and cross-border payment fee
compared with bitcoin, the account book needs six confirmations, 10 minutes each time, and the total confirmation time is nearly one hour. Ripple introces a "consensus" mechanism, which can verify and confirm the transaction in a very short time through the voting of special nodes. Ripple's trade confirmation process can be completed in seconds. Hyperledger is similar to ripple "consensus" mechanism, and the consensus is reached through Byzantine fault-tolerant algorithm mechanism
in addition, the ripple client does not need to download the blockchain (recording historical transaction data), it abandons the verified general ledger chain on the ordinary node, and only keeps the latest verified general ledger and a link to the historical general ledger, so the workload of synchronizing and downloading the general ledger is very small
the increasing volume of blockchain has become another big problem of bitcoin. Every time bitcoin wallet is installed, a lot of time is consumed to download data blocks. In the past year, with the increase in the number of transactions, especially the emergence of a large number of small transactions on gambling websites, the volume of block ring chain has doubled to 15GB
at the same time, under the general ledger and consensus mechanism, yingyunsheng ripple also has an absolutely accurate online IOU marking function, which hides a subversive idea that users can issue their own currency. Users can set the name of the IOU and the exchange ratio with us dollars or bitcoin. This is actually "personal currency". Its core is to subvert the currency with government credit as the core, and give users the choice of every trust
long verification time, growing block chain (recording historical transaction data) and increasing unreliable transactions are the problems bitcoin is facing now. These are also the problems hyperledger tries to solve. Hyperledger inherits the advantages of ripple. By introcing a consensus mechanism similar to ripple, it can shorten the verification time, remove the block ring chain, and use the voting mechanism (two-thirds agree) to automatically detect and remove the damaged nodes through transaction requirements
the concept of ripple appeared as early as 2004, and Ryan Fugger launched the first implementation version of ripple. Its goal is to build a decentralized virtual currency system that allows anyone to create their own currency. Money in ripple network is expressed as "debt", and all transactions show the change of account balance
the original intention of ripple project is to establish a distributed P2P clearing network: everyone is their own bank, which can issue and accept loans, and at the same time act as a lending channel (for example, a wants to borrow money from B, but they don't know each other, but they all know C, so C can act as a channel for a and B. C first borrows money from B, and then lends money to a, indirectly realizing that a borrows money from b)
ripple's design idea is based on acquaintance relationship and trust chain. If a person wants to use ripple network for remittance or loan, the premise is that his friends already exist in the network. Otherwise, it is impossible to establish a trust chain between the user and other users, so there are not many ripple users
the problem of limited users in small circles has been solved after the establishment of the new company opencoin. Opencoin has launched a new version of ripple, which introces two measures to solve the problem of isolated small circle: one is to launch ripple currency, XRP, as the base currency of ripple network, which can circulate in the whole network just like bitcoin, without being limited to the circle of acquaintances; The other is the introction of gateway system, which is similar to currency exchange institutions, allowing people to inject legal money into and withdraw from the ripple network, and can act as a bridge between borrowers and borrowers
What are the differences between hyperledger and ripple
according to the statement given by the hyperledger team:
? In concept, ripple focuses on forming a trust chain according to the reputation of the entity, and finding the simplest way to realize the transaction, which can be cross currency. The purpose of hyperledger is to make it easy for private entities to issue money and to have precise control over the amount of money issued< br />? Ripple and hyperledger share the same "consensus" mechanism and attach the same protocol, but the rules of membership and privacy are different< br />? Hyperledger does not issue a currency of its own in the system< At present, ripple's commercial business can be divided into two types:
one is that ripple directly provides remittance technology and underlying protocol to banking financial institutions, which is equivalent to replacing the original high-cost swift technology. Ripple only serves as the technology provider. Users can open the client of China Merchants Bank and choose to remit by swift or ripple in the remittance column, The significance of ripple is to use technological innovation to help banks rece costs
the other is direct consumer oriented business. Users can log in to ripple's website or download an app of ripple wallet, where they can freely make cross-border remittance, charge accounts or exchange between real currency and virtual currency. The network management can be a bank, a third-party payment enterprise, or even an indivial
how to participate in hyperledger? Its consensus pool is divided into four parts: testpool, mainpool, custompool and premierpool< br />? Testpool is open to everyone for free, in which you can publish your personal ledger (currency) or test third-party applications, or even try to attack the payment system and do what you want to do< br />? Mainpool is the basic pool. Each node in the pool requires a unique domain name and SSL certificate. Now it is added to the mailing list and will be notified as soon as hyperledger is released< br />? Custompool allows users to define pools, which can be limited to a country, a university, etc< br />? Premier pool is a commercial pool. There are more strict restrictions and requirements for operating a "consensus" node. Every request for ledger must be audited, and membership subscription fees must be paid. Specific rules need to be communicated with hyperledger team.
XRP is issued by ripple, so it can't be obtained through mining. Ripple's wallet is in the official website, so you don't need to download the client, you can have a wallet directly by going to ripple's official registered account.
In the early development of ripple network, there were not many users, and it was only popular in some isolated small circles. The reason is that the initial design idea of ripple protocol was based on acquaintance network and trust chain. If a person wants to use ripple network for remittance or loan, the premise is that in the network, the payee and the payer must be friends (mutual trust relationship is established), or have common friends (trust chain is formed through the transmission of friends), otherwise the trust chain cannot be established between the user and other users, and the transfer cannot be carried out
with the establishment of opencoin, the situation has been improved
Chris Larson and Jed? In 2012, Michael culleber co founded opencoin in San Francisco, took over ripple, set up ripple labs, and began to build a platform that represents "future payment" in their eyes
according to public information, the new version of ripple network in 2013 introced two measures to solve the problem of isolated small circles
first, XRP, as the base currency of ripple network, can circulate freely in the whole ripple network, just like bitcoin, without being limited to the circle of acquaintances. Ripple is a tool in the network, which has two functions. One is to prevent spam request attacks (e to the open source of ripple protocol, malicious attackers can create a large number of "junk accounts", leading to network paralysis. In order to avoid this situation, ripple labs requires each ripple account to have at least 20 ripple coins, and each transaction is executed, One thousandth of a rupee will be destroyed. For normal traders, the cost is almost negligible, but for those who maliciously attack and create massive false accounts and trading information, the Ruibo coins destroyed will increase exponentially, and the cost will be huge; Second, as a bridge currency, it becomes an intermediary in the exchange of various currencies
the other is the introction of gateway system, which is the gateway of funds in and out of ripple network. It is similar to currency access and exchange institutions, allowing people to inject or withdraw legal currency and virtual currency into or out of ripple network, and can serve as a bridge between payment parties, that is, as a "common friend" between strangers, equivalent to the bank in swift protocol, This allows transfers other than reborn money to be made between strangers
it should be noted that some people think that ripple system, as a new global payment system, has great potential and is likely to subvert the future payment instry. However, ripple, the common currency on the system, is dispensable because ripple system without ripple can still operate normally, which is an obvious mistake, First of all, ripple before 2013 has not been able to develop without ripple. It is because of ripple that ripple system has entered a new period of rapid development since 2013; Secondly, without such a common currency as reborn, anyone can trust a fake gateway by establishing many fake accounts, thus cheating the system to form a large-scale fake gateway, which is extremely unfavorable to the development of ripple; Moreover, the existence of ripple coin is equivalent to the lubricant and bridge of ripple system, which provides great convenience for the liquidity of ripple system
warm tips:
1. This information does not constitute any investment proposal, and investors should not use such information to replace their independent judgment or make decisions only based on such information, which does not constitute any trading operation
2. Before making any investment, you should make sure that you fully understand the nature of the investment and the risks involved in the proct. After a detailed understanding and careful evaluation of the proct, you can decide whether to participate in the transaction on your own
response time: December 15, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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