Does digital currency use cipher chip

1.

digital currency is an alternative currency in the form of electronic currency (which can be used for real goods and services transactions)

digital currency has the main characteristics of network packets. This kind of data packet is composed of data code and identification code. The data code is the content we need to transmit, while the identification code indicates where the data packet comes from and goes

based on the characteristics of digital currency, the direct benefit of digital currency to the central bank is not only to save the cost of note issuance, circulation and settlement, but also to enhance the central bank's ability to control funds

Electronic money and virtual money are called digital money. According to the definition of the European Central Bank, virtual money is issued by non central banks, credit institutions and e-money institutions, which can be used as the numerical expression of the value of currency substitutes in some cases

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extended information:

the process of digital currency trading through the platform is as follows:

(1) investors should register accounts first, and obtain digital currency accounts and US dollar or other foreign exchange accounts at the same time

(2) users can buy and sell digital currency with the money in their cash account, just like buying and selling stocks and futures

(3) the trading platform will sort the buying requests and selling requests according to the rules and start to match them. If they meet the requirements, the transaction will be concluded

(4) e to the difference between the buy and sell volumes submitted by users, a buy or sell request may be partially executed

2.

1、 Different definitions:

1. virtual currency:

virtual currency refers to non real currency

Digital currency:

digital currency is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

3. Cryptocurrency:

cryptocurrency is a kind of transaction medium that uses cryptography principles to ensure transaction security and control the creation of transaction units

4. Token (token):

a kind of article whose shape and size are similar to currency, but the scope of use is limited and has no currency effect, and its token is the homonym of token in English

Second, the characteristics are different:

1; It can also be said that virtual currency is personalized currency. In another way, it can also be called information currency

2. Digital currency:

is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities

Cryptocurrency:

cryptocurrency is based on the decentralized consensus mechanism, which is opposite to the banking and financial system relying on the centralized regulatory system

4. Token (token):

usually needs to be exchanged for money, used in shops, playgrounds, mass transportation and other places, as a voucher to use services and exchange goods

extended data

at present, digital currency is more like an investment proct, because it lacks a strong guarantee agency to maintain its price stability, and its role as a value measure has not yet appeared, so it can not be used as a means of payment. As an investment proct, digital currency cannot develop without trading platform, operating company and investment company

digital currency is a double-edged sword. On the one hand, the blockchain technology it relies on has been decentralized and can be used in other fields except digital currency, which is one of the reasons why bitcoin is popular; On the other hand, if digital currency is widely used by the public as a kind of currency, it will have a huge impact on the effectiveness of monetary policy, financial infrastructure, financial market and financial stability

3. Electronic money refers to the exchange of a certain amount of cash or deposit from the issuer and obtaining data representing the same amount, or the quick payment service launched by the bank and the third party to transfer the balance in the bank through some electronic means, so that transactions can be carried out. Strictly speaking, it is a kind of currency that consumers use the bank's Internet banking service to store value and make quick payment to the issuers of electronic currency, and make consumers trade electronically through media (two-dimensional code or hardware equipment)

digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Digital currency is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of a specific virtual community. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form

response time: August 3, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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4.

1. Application of different

digital currency: fast, economic and safe payment and settlement; Bill finance and supply chain finance; The real right of collateral is digitalized

e-money: the seller sends the buyer's payment instructions to the seller's acquiring bank through the payment gateway; The acquiring bank obtains the authorization from the issuing bank through the bank card network, and sends the authorization information back to the seller through the payment gateway; After obtaining the authorization, the Seller shall send the buyer the shopping completion information. If payment acquisition and payment authorization cannot be completed at the same time, the seller should send payment acquisition request to the acquiring bank through the payment gateway, and transfer the transaction funds from the buyer to the seller's account. The final inter-bank settlement is completed by the payment system between banks

2. Different characteristics

digital currency is characterized by low transaction cost, fast transaction speed and high anonymity

e-currency is characterized by anonymity, saving transaction cost, saving transmission cost, small holding risk, flexible and convenient payment, anti-counterfeiting and anti repetition, and non traceability

Digital currency can be divided into three categories: completely closed, unrelated to the real economy and only used in specific virtual communities, such as world of warcraft gold; It can be purchased in real currency but not converted back to real currency, and can be used to purchase virtual goods and services, such as Facebook credit; It can exchange and redeem with real currency according to a certain ratio. It can purchase both virtual goods and services and real goods and services, such as bitcoin

e-money: e-cash based on the Internet environment and keeping the binary data representing the value of money in the hard disk of the computer terminal; An electronic wallet that keeps the value of money in an IC card and can be circulated out of the bank payment system

5.

Differences:

non encrypted currency (enterprise currency):

1, personal behavior

2, company's own currency

3, unable to decentralize

4, unable to trade on international trading platform

5, unlimited issuance

6, no mine website, no original code

7, controllable price, mostly one-way relationship (dining ticket of an enterprise, Qmoney and so on)

open source digital cryptocurrency:

1. Decentralization -- not regulated by indivials, companies and national banks

2. Limited issue

3. Free trade on international trading platform

4. Original code

5. Not taxed, not frozen, uncontrollable price

cryptocurrency advantages:

1. Compared with paper money, Save the cost of printing, data audit, anti-counterfeiting, escort circulation, safe keeping and so on

2. It is impossible to control the number of issues without issuing institutions

3. Borderless. If you use cryptocurrency transaction, directly enter the account address, click the mouse, wait for the network to confirm the transaction, a lot of money will pass

4. Using cryptocurrency in any store can save the cost of tax and capital supervision

5. It is not controlled by the central bank and the quantity is limited, so it can completely resist the pressure of inflation. Let the wealth of the common people keep its value and increase its value The cryptocurrency other than bitcoin is also known as counterfeit currency and competitive currency (English: altcoin). Part of it is a virtual currency similar to bitcoin, which is based on the ideas, principles and source code of bitcoin. At present, more than 800 cryptocurrencies are in circulation

because bitcoin itself does not have an authoritative issuing institution and state power to maintain its authority and uniqueness, bitcoin and its imitators can only get along equally. It is not absolutely exclusive

6.

Digital cryptocurrency is a kind of currency that is not issued by legal tender institutions and controlled by the central bank. It is based on the open source code of a group of equations calculated by computers all over the world, and is generated by a large number of calculation processing of computer graphics card and CPU. It uses the design of cryptography to ensure the security of all aspects of currency circulation

development materials:

1. definition of digital currency:

   digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English and the alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy< br />

   

7.

The digital currency wallet is the hardware wallet, which means that the private key of digital assets is stored in a single chip, isolated from the Internet, plug and play. Hardware wallet can't guarantee 100% security. For example, if a geek gets your hardware wallet and doesn't know your private key, it may be cracked by violence. It's just one of the safest storage methods compared to other storage methods

many block chain entrepreneurs at home and abroad are optimistic about the development of this field, so they begin to build more hardware wallets. In the case of the exchange being stolen a lot of money and the software wallet being stolen from time to time, many investors regard the hardware wallet as the last moat

extended information:

whether the hardware wallet is safe

the hardware wallet can not guarantee 100% security. For example, if a geek obtains your hardware wallet, it may be cracked violently even if it doesn't know your hardware wallet immediately. It's just one of the safest storage methods compared to other storage methods

of course, there are exceptions, such as you have unlimited brain power and never forget. It's better to save it anywhere than in your own mind

8. There are many advantages of encrypted digital currency. Here are two

1. Secure
transaction of cryptocurrency on the decentralized platform of blockchain, the E-wallet used by it is authorized to send and receive cryptocurrency by the cryptosystem using the unique public key and private key. And the account does not need to be identified by a third party, so outsiders can not know the identity of the trader
2. Tamper proof
after the transaction on the blockchain is confirmed, it is tamper proof, and this kind of data is traceable, so the illegal elements can't cheat by deleting or modifying the records
you can learn about cryptocurrency through some media platforms, so I won't go into details here.

9. Well, it's said in the news that it can be used even without Internet.