Iota coin mining course
How many cryptocurrencies are there in the world
at present, there are more than 1350 encrypted virtual currencies in circulation in the world. So far, according to the total valuation given by the market price, there are 23 virtual currencies with a valuation of more than US $1 billion, 97 with a value of more than US $100 million, and 573 with a market value of more than US $1 million. All in all, the total market value of virtual currency has exceeded US $5 trillion, of which bitcoin, the earliest invention, accounts for more than half. Players generally admit that bitcoin is not the most effective cryptocurrency, nor is it the most covert and anonymous. However, bitcoin is the first one to appear, so it is the most well-known and popular one
so the question is, does the world need more than 1350 cryptocurrencies
even the players of virtual currency will doubt this. No matter how strange the world is, there cannot be so many virtual currencies. In fact, there are so many new ICO virtual currencies emerging in recent years, which complement the "Crazy" performance of bitcoin in this year. Most of these 1300 kinds of virtual currencies can't be recognized by everyone. From the beginning of ICO, there will be many loopholes that no one will fill. When there is a major adjustment in the virtual currency market, many of them will disappear automatically, which means that no one will go to mine any more
this also leads to a problem. When some of the cryptocurrencies have problems, the entire instry chain and market of virtual currency may be involved like dominoes. Even the strongest bitcoin now will also be involved, because the cryptocurrency, in the final analysis, is supported by the "belief" of players
why is bitcoin worth more than other cryptocurrencies
at the time of writing this article, the total value of bitcoin is about US $270 billion, the total value of cash of bitcoin is about US $31.7 billion, and the market value of bitcoin gold is US $5.17 billion. Since bitcoin cash and bitcoin gold are separated from bitcoin, in a broad sense, they should be counted as a part of the total value of bitcoin (of course, you can't refute me technically, just for a rough explanation). Once we add up all the branches of bitcoin, we can calculate the market value of more than $310 billion. As a result, bitcoin accounts for about 60% of all cryptocurrencies in the market
as I have repeatedly said in recent days, bitcoin is not the most effective cryptocurrency, the most advanced, the most anonymous, or even the most stable cryptocurrency. So why is bitcoin so valuable compared with other virtual currencies
it's very simple, because bitcoin has a catalytic factor, that is, the Chicago Board of trade, as well as the commodity exchange, began to trade futures as a "commodity". Then, you will naturally think that since it has been recognized by the futures exchange, will it be further recognized by the US government in the next step. Other virtual currencies are still struggling
however, we have always stressed that since the day bitcoin was traded as a "commodity", its real monetary role, like gold, has been very weak in reality, but as one of the procts of gambling. This means that we all do bitcoin as a speculative activity, rather than a real use
judging from the current situation, bitcoin is no longer the only virtual currency that soars as soon as there is news of "official support". It is like iota, a virtual currency that focuses on the principle of the Internet of things. The news of cooperation with Microsoft came in the last two weeks, and it immediately rose to more than $300. Later, Microsoft came out and said that there was no such thing, and iota immediately fell back. It can be seen that in the future, as long as the virtual currency is recognized by some big company or organization, it will soar like bitcoin
then why should I say that lightning bitcoin is a great currency experiment? We compare lightning bitcoin to a free economy with three major stakeholders: developers, miners and holders
so far, no blockchain project can effectively govern the three. Why? The reason is very simple. In an ICO project, the developers, coin holders and even miners are the same group. It's easy to understand. Why should he give the best interests to the ICO holders? This is obviously not in line with human nature. The reason why lightning bitcoin dares to do chain governance is related to the issuing mode of lightning bitcoin. LBTC's "governance on the chain" is another attempt to "decentralize", which is also very eye-catching. Dpos mechanism determines that there are 101 nodes in the network. At the same time, unlike pow, the right of choice is in the hands of the coin holder. These nodes will be elected by the vote of the coin holder. When the node does not act, the user can vote out of the network. According to last week's weekly report, LBTC's block browser has also added this function, which can view the operation of nodes in real time. It also paves the way for LBTC's "chain governance". In the LBTC system, all coin holders can vote to decide whether the project development proposal will go or stay, and all members of the organization can participate in the decision-making and operation of the organization. In addition, the 5000 standard of lockup after the election of the lightning node ensures that the node is both a mine pool and a coin holder. In this way, the relationship among miners, developers and users is well balanced, and the foundation of an autonomous organization is formed.
The bitcoin white paper was first published at the end of 2008, when the creators sent it to multiple recipients on an encrypted mailing list. Strangely, its creator pretended to be Satoshi Nakamoto, hiding behind the pseudonym
Another reason for Nakamoto's anonymity can be explained as that the creators of alternative currencies easily put themselves at risk In 1998, Hawaiian resident Bernard von nohaus created a private currency called free dollar. It has been popular for some time, but its coinage was suddenly raided by the FBI and secret service in 2007. After a criminal lawsuit in 2009, the money was confiscated and Bernard von norhaus was convicted of "making private coins that compete with the official currency of the United States." In addition, in 2007, a digital currency called e-gold was accused of being illegal because it did not collect enough customer information. Its owner was sentenced to house arrest and the company was shut down. The arrest of entrepreneurs in alternative currencies by government agencies may have been a factor in China's decision to remain anonymouseveryone can use bitcoin. This means it can be used to pay for legal and illegal services, as well as legal bids however, it has always been a popular payment method in the black net market. Ross Ulbricht, the notorious dark Internet market maker and operator, was jailed for facilitating the trading of drugs and other contraband
Ross Ulbricht appealed to the US Supreme Court in December 2017, but is still in prison. If Nakamoto reveals his true identity, it can be inferred that he may face a similar fate
who would he be
in 2016, Craig Wright, an Australian programmer, claimed to be Chinese. He provided some evidence, but later found that it was not conclusive because it could be obtained publicly from books. He was also accused of falsifying announcements and blog posts to show his real Chinese version. For example, vitalik buterin, founder of Ethereum, recently called Craig white a liar
The other is Hal Finney. He is a famous cryptopunk and Cryptologist. He was also the first person to receive bitcoin from Nakamoto in 2009. He was also the first to download a bitcoin client. Before his death in 2014, however, Hal fini refuted the claim that he was Chinese Some people think that Nick Saab, a famous Cryptologist, may be Nakamoto. Before the launch of bitcoin, he designed the architecture of distributed digital currency, which he called bitcoin. Although the architecture has never been moved, it is similar to the design of bitcoin. This led to widespread speculation. But he repeatedly denied italthough the real identity of Nakamoto may never be disclosed, it is important that the operation of the technology will not be affected
When driving on high speed, we all know that it is very convenient to install an etc, because it can pass through the toll intersection quickly without parking. This also saves a lot of time for the majority of car owners, because sometimes if we stop and then go to pay, it may delay some valuable time{ RRRRR}
in fact, sometimes I think this kind of equipment is very convenient, but the conditions in various aspects may not be very mature now, so sometimes it will lead to a wrong dection. In life, our car owners may feel very troublesome. We should protect our own interests. Even if your money is dected, you should respond in time. Or upgrade the system
it is a revolutionary new transaction settlement and data transfer layer designed for the Internet of things. It's based on a new type of distributed ledger, tangle. Tangle is the name of ledger structure. Tangle is like blockchain, but it uses network structure instead of chain structure, which makes it more extensible and stable
and it has no mining, no blocks, no transaction costs. Its application field is located in the Internet of things, as the technology of data integrity and instrial equipment. In addition, we need to pay on demand for micro payment and machine communication, such as sensor technology, smart city, adaptive system and so on
the goal of iota is to become a cryptocurrency for the Internet of things. As machine to machine connections grow, iota wants to be the currency that drives its transactions. When the project was launched in 2015, 1300 bitcoins were raised through "first coin", some of which were donated to the foundation. Iota is now the 11th largest cryptocurrency in circulation, worth $5 billion.