Gold blockchain
Since 2017, the concept of blockchain, which has been popular all over the society and the world, is still heating up, attracting people and social funds; Boost bitcoin, as well as similar network "encrypted digital currency" (such as ether coin, Wright coin, etc.) price rise, created a lot of "overnight rich" myth. The argument that digital currency and blockchain will subvert tradition and profoundly change the world is constantly rising. The start-up and development of blockchain seems to be coming like a roaring sea, but it is more and more concentrated in coin making and speculation, and more and more trapped in the thinking and paradigm of "bitcoin blockchain" of mining and coin making
in the case that bitcoin must be exchanged with fiat money and must join the network trading platform and other auxiliary links in order to play a greater function, the characteristics of bitcoin blockchain such as area center and disintermediation may have serious problems. In the real world, if the transfer of monetary assets is operated through the bitcoin blockchain system, it will actually increase the intermediary link rather than disintermediation. Moreover, because the bitcoin system is highly anonymous and deliberately evades supervision, it is difficult to fully meet the requirements of anti money laundering and anti-terrorism transportation. On the contrary, many new serious problems may arise, Many arguments about bitcoin and blockchain are difficult to hold
those unseen pain points
the so-called labels of bitcoin blockchain, such as "decentralization", "democracy, equality and freedom", can not stand scrutiny; The truth is that if it puts too much emphasis on "decentralization", it will affect efficiency; Bitcoin has not yet become a real currency; The ICO type fund-raising method is not concive to the development of blockchain... But when people enthusiastically pursue blockchain like faith, they can not see these "pain points":
first, bitcoin blockchain is difficult to build a decentralized, democratic and equal society
bitcoin blockchain system envisages the establishment of an equal and democratic world for all participants, but in fact, the core team of coding maintenance and the main forces involved in mining and operation are not so equal and democratic. Due to the influence of computer computing power, the mining and acquisition of bitcoin are not equal as advertised. As a result of competition, the opportunities of mining and acquiring bitcoin are more and more concentrated on a small number of mining pools or nodes with powerful computing power. However, more and more people are involved in mining, consuming resources, but they may not be able to obtain bitcoin. This makes bitcoin more occupied by a few people, and will enhance its voice or influence on the adjustment of network rules
secondly, there are strict conditions for bitcoin blockchain to "de trust" and "de mediate" point-to-point transactions
bitcoin, a blockchain based digital currency, is often regarded as a global safe haven asset like gold. In this age of global turmoil, even gold has become unreliable and may be confiscated as India has. Some people have begun to think that bitcoin can replace gold, because bitcoin not only has the reserve capacity of gold, but also has some capabilities that gold does not have, such as low handling charges, rapid transfer capacity, decentralization and so on. With the increasing popularity of bitcoin and the decreasing volatility, the status of gold has been threatened
will bitcoin shake the status of gold?
gold has a long history, almost as long as the history of human civilization, and has withstood numerous tests in history. Bitcoin is less than a decade old, but its value has risen sharply. There is no support behind bitcoin. Of course, since the end of the gold standard, there has been no support from other currencies, except that there is no support from the central bank behind bitcoin. It's hard to predict whether bitcoin will exist in the next decade, a hundred years or even a thousand years.
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Unlike most currencies, bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
from the two concepts, the main differences are as follows: gold is a physical object and a general equivalent; Bitcoin is a virtual currency, which is easy to be manipulated, and its value has a certain degree of hype.
1. Most people don't know what a blockchain is
compared with traditional stocks, real estate, bonds, gold, etc., blockchain assets are a very abstract and virtual form of assets. Blockchain assets represented by bitcoin are a very specialized computer language and program running mode, There is no credit endorsement from any country behind it, nor does any enterprise give it securitization income, which completely depends on the mutual consensus trust between strangers. In this case, although the operation logic of decentralization has been completed, its experiment is only in the initial stage and development stage, and participating in relevant investment is actually a kind of brave adventurer behavior
2. The price of blockchain assets fluctuates violently
because there is not much support from the use level of entities, many blockchain projects are completely dependent on community operation and market speculation, so it is difficult for investors to hold blockchain assets from the perspective of value investment, which leads to frequent capital flow, and the situation of price fluctuations has become a normal. A blockchain related token can soar by 500% in a day, or fall by 90% in a few hours. This kind of drastic price fluctuation is not affordable to ordinary investors
3. The uncertainty of national policies is too great
as an underlying technology, blockchain has basically accepted its value all over the world. However, as the "companion proct" of blockchain, there are still great disputes on national policies, and with the continuous increase of digital currency trading volume, the impact on the global financial market is also increasing. At present, the daily trading volume of the whole digital currency field exceeds US $60 billion, which is comparable to the trading volume of China's Shanghai and Shenzhen stock exchanges, or the average daily trading volume of the New York Stock Exchange. It is impossible to continue to operate outside the supervision. There is a very large regulatory game cycle, and the policies of various countries in this regard may be introced one after another, The impact on the market cannot be ignored
4. All kinds of blockchain projects are good and bad
blockchain technology is originally a very basic architecture technology. At present, e to the global pursuit of funds, many project parties who have nothing to do with blockchain begin to use the concept of blockchain to design procts, And can complete the writing of the white paper of blockchain in a very short time, and then raise market funds. In this case, the technical threshold of the whole blockchain has been lowered. Many companies without the strength and willingness of blockchain development have developed the concept of blockchain purely to obtain financial support, resulting in the flooding of projects. The gap between projects is widening, but ordinary investors are difficult to identify and easy to fall into the trap
5. Currency speculation is not equal to blockchain investment
at present, there are many views that blockchain and digital currency are a whole. You can't develop blockchain technology while suppressing digital currency. I agree with this logic, but currency speculation is not the same as blockchain investment in the real sense. The thing with real investment value must be the thing with scarce supply. If any digital currency is issued, it can represent the application value of the blockchain and bring some innovation to the society. Then any blockchain technology team that can issue digital currency can issue dozens of digital currencies and change its name in a very short time. Therefore, digital currency itself has little logical relationship with blockchain assets. Blockchain projects must be a market with obvious scarcity, but digital currency does not have great scarcity. This is like saying that any Internet company can develop a chat software similar to wechat, but the chat software itself does not have much value. The real value lies in how many people participate in the chat software. Digital money is just a chat software. The current situation is that everyone is frying the software, and few people are concerned about what is on the software. p>
6. Short term overheating, easy to be used by lawless elements
the particularity of the blockchain instry is that many of the ecology has become very financial, in the whole process of operation, capital will be very concentrated, and most of the links are related to capital. From raising funds by ICO to sending tokens to investors, to online trading of exchanges, and trading of tokens by users in exchanges, the whole process is almost full of financialization. If the practitioners are not professional enough, have no self-discipline ability, and lack of supervision, then every link may be used by criminals to manipulate the market, Obtain all kinds of illegal income
In order to catch up with the next round of financial technology and digital revolution, Japan holds a very open attitude towards bitcoin and other transactions. Digital currency transactions denominated in Japanese yen occupy half of the whole legal currency trading area in the world, Japan hopes to use digital currency to revive its financial competitiveness. The United States hopes to use mainstream financial markets, such as futures and options derivatives market, to tame bitcoin and make it another powerful tool for us dollar hegemony. And China is also trying to promote sovereign cryptocurrency, one of the important purposes is to promote the internationalization of RMB. The field of digital currency and blockchain assets is likely to become the next big country's game and contention point, which will virtually increase the systematic risk to investors. It's hard to know what unexpected policies appear behind this big country's game and what impact they will bring to the whole market8. The threat of quantum computer
blockchain generates a set of self-motivated system to ensure that it can run on its own under decentralized conditions. Most of them use asymmetric encryption, and use the corresponding public key to verify the transactions signed by the private key, so as to ensure that bitcoin and other blockchain assets can only be used by legitimate owners. But quantum computer can solve the problem of asymmetric encryption. Quantum computer can calculate the private key from the public key in a few minutes. After knowing all the private keys, people with quantum computer can spend bitcoin and other digital currency at will. Of course, when the quantum computer will come out is also a problem. The digital currency protocol is constantly adding new encryption standards, but the potential threat brought by the quantum computer has to attract the attention of investors
9. There is a possibility of a big reversal in the supply and demand level
the market value of the blockchain token market has hovered around us $trillion. Although OTC funds are still pouring in, the stability and growth rate of the capital inflow are questionable. The supply of encrypted digital currency is a very embarrassing thing. From the perspective of a single digital currency, the total amount is strictly limited. For example, there are only 21 million bitcoins, but the threshold of issuing encrypted digital currency is getting lower and lower. Anyone and any organization can issue encrypted digital currency anytime and anywhere, and the supply is almost unlimited. On the other hand, the increasing transaction cost is restraining the demand side. At present, investors in the transaction link need to pay the transaction fees in the exchange, and also pay the miners' fees when transferring money. If countries begin to tax digital currency transactions in the future, it means that this market will have to bear more operating costs without generating its own profitability, If coupled with the increasing supply level, the overall market supply and demand expectations may reverse in a moment
10. Lack of legal protection for blockchain assets
it is not uncommon that global digital currency exchanges have been "hacked", and in the process of all kinds of over-the-counter and on-the-spot transactions, fraud also occurs from time to time, and the legal protection for investors is very limited. Especially for domestic investors, once they are stolen or cheated because of trading digital currency, it is almost difficult to recover effectively. Due to the lack of intermediary guarantee from banks and other levels, the security of digital currency is entirely under their own responsibility. Although this is in line with the logic of self preservation of private property, it also brings greater uncertainty to the storage and transaction of digital currency assets. Before there is no complete legal system to protect the rights and interests of personal digital currency assets, the legal security of investment in blockchain related assets is a very serious problem
1、 Deng Yaping is a beautiful and talented girl. She was admitted to university at the age of 15; He became a university teacher at the age of 19 and was admitted to the graate class of the Chinese Academy of Sciences at the age of 22; At the age of 24, he taught graate students in the Chinese Academy of Sciences. Then she fell in love, married and had children. Everything went smoothly, with flowers and applause everywhere. However, when she was 29 years old, god suddenly closed the door to happiness and pushed her into the dark abyss. Her optic nerve was damaged and she was blind. Along with the light, she lost her husband and children
She wants to learn Braille and go back to her field of knowledge. But this year, she was 30 years old. Of course, a 30-year-old woman can't go to school for the blind. So she had to teach herself. She began to read Braille. Of course, she "looks" with her fingers. She could only touch with her fingers instead of her eyes. The first English word she touched was Chinese cabbage, and the letter was c-a-b-b-a-g-e. she touched the seven English letters with her hands and feet for an hour, but she still didn't understand that the word was "Chinese cabbage". When her father told her the answer, she cried. She wept for her clumsiness. She is an English professor at the Chinese Academy of Sciences. She doesn't know the English word "Chinese cabbage". Before that, she could read everything at a glance! She didn't believe that she was tripped over by a cabbage. She wants to live, she wants to stand up, she wants to be a Chinese cabbage that can fly and soar in the sky of knowledge again. She started her own struggle. She locked herself in the room, practicing over and over again, touching words over and over again, memorizing them over and over again. Then she recited what she had learned to her father. Once, when listening to her recitation, my father found that the blind words were full of red blood. When she finished reciting, her father took her hand and found that her fingers were worn out. Her father held her hands in his own and could not help crying. The father said, "daughter, we won't learn. Dad has a salary, and he can support you all his life. " She didn't cry. Instead, she comforted her father with a smile and said, "Dad, you must believe in your daughter. I can do it!" One night, she sneaked out of the house by herself. Father is very anxious, looking around. Finally, her father found her in the classroom where she worked. The students are out of school. The light in the classroom has gone out. She stood alone on the platform, repeatedly measuring the blackboard with her hands. She finally returned to the podium. Everything is the same as before, so that after two weeks of class, the students don't know that their teacher is blind. Finally, some students found out that she was walking in the campus with a blind stick. Only then did they know her misfortune and her hard work in order to have a good class. The students were moved to cry, but she laughed. She told the story of the struggle of a Chinese cabbage with a smile, and encouraged the students to cherish the time Her name is Yang Jia. After learning Braille, Yang Jia used computer Braille software and set foot on the fast track of her career. As a blind person, she was admitted to the Kennedy School of government, Harvard University, USA, majoring in public administration, and received a Harvard MPa degree. Now, Yang Jia is vice chairman of the UN Committee on the rights of the disabled, member of the 11th CPPCC National Committee and vice chairman of the China Association for the blindBlockchain 4.0 is the landing of a large number of scene applications and the deep integration of multiple fields, such as blockchain plus artificial intelligence, supercomputing, big data, etc., which requires and promotes the upgrading of the underlying infrastructure construction, greatly improves its inclusiveness, carrying capacity and scalability, builds its solid ecological network system, and makes the blockchain value network radiate more scenes, Value is more reflected. The block chain structure is as follows:
as a new generation of public chain, SPG super gold puts forward its own innovation on the basis of absorbing the advantages of public chain in the past. Considering that Neo has its own unique advantages in solving the problems of low scalability, low concurrency and low transaction feedback of the public chain, and has achieved practical results, at the same time, in the super gold cryptocurrency SPG generation mode, it prefers the mining output mode under the more decentralized workload proof mechanism, Therefore, super gold creatively launched a two-tier structure combining transaction verification with Ethereum workload proof algorithm ethash, which separated transaction verification and block packaging synchronization, so as to better solve the problems of low scalability, low concurrency, low transaction feedback and block congestion of blockchain, At the same time, the smart contract system of super gold is more suitable for the development trend of current blockchain technology. The support of cross chain protocol for cross chain transaction can help build a public chain platform with higher universality, wider application range and more prosperous and stable ecology. Therefore, SPG super gold can be classified as blockchain 4.0 array
gold is the best choice for risk aversion. The gold token issued by digix is the gold in the world of digital assets, and its token, DGX for short, can play a role of hedging in the world of digital assets
How can DGX benchmark gold? It will be gold assets on the chain (that is: blockchain) operation. For example, if you have a kilogram of gold ready for sale, you can cut the gold for sale, but it is too troublesome and easy to cause loss. You can also send 1kg of gold to Singapore for LBMA to verify the gold. After the verification, the certificate of ownership of gold assets will be issued to you
the digital certificate can be converted into 1000 DGX tokens, i.e. 1 DGX token = 1 gram of gold. The circulation efficiency of gold has been greatly improved. Similarly, when you need to extract gold, as long as you have the corresponding token, you can replace it with a certificate to extract gold.