Electrum

1.

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

2.

It's said that the currency circle has been going on for one day and the stock market has been going on for one year. Although it's a bit exaggerated, it's not unreasonable. In recent days, bitcoin has gone up sharply, but it has come down slightly today. It's estimated that no one can match the speed of the bull bear conversion in the currency circle. However, among many virtual currencies, how can we find high-quality projects? Xiaobian thinks that the bull market is not surprising. The key point is that the bear market still insists on giving weekly reports, at least for the projects with reliable teams. Today Xiaobian still brings you weekly reports of some high-quality projects. The following is the latest weekly project progress report (April 9-April 15, 2018) released by ubtc team. The specific information is as follows:

pre upgrade of Ub smart contract:

smart contract is one of the major milestones of the technology roadmap of bit fed project. In order to prepare for the implementation of smart contract on UB, the UB team made some adjustments on April 10, 2018, as follows:

1. The block speed was adjusted from 10 minutes to 1 minute

2. The difficulty adjustment cycle was once for 10 blocks

3. Block reward was adjusted to 1 ubtc

The total amount of ubtc was adjusted from 21 million to 20 million

The mature period of reward was 7200 blocks

this adjustment requires users to download the latest version of the wallet to ensure that subsequent use will not be affected

wallet download link: https://www.ub.com/project/wallet

R & D:

1

2. Ubtc contract function continued internal test and bug repair

3. Ubtc contract function test documents continue to improve

4. Gjavac, gsharpc, uvmassassembler, uvmpackagegpc organize the code and open source on GitHub

5

Market:

1. Anybit mobile wallet charging UB award UB activity starts at 8:00 p.m. Beijing time on April 4, 2018, and ends at 8:00 p.m. Beijing time on April 15, 2018. During the activity, users who download anybit and recharge ubtc will get 1% reward, up to 1 ubtc. The event is limited to the top 1000

the reward is calculated based on the balance of ubtc at 8:00 p.m. Beijing time on April 15, 2018. The reward ubtc will be uniformly distributed to the corresponding ubtc address on April 16

2. The UB team held a fan meeting in Genesis block, Wanchai, Hong Kong from 7:00 to 9:00 p.m. on April 9. Mr. Wouter van der schagt, director and project CEO of Ub foundation, introced the project progress and planning to the fans. UB's major fan communities (wechat group, telegraph group, QQ group, beechat group, microblog, twitter, etc.) carried out real-time live picture push

3. On April 9, the microblog of "UB global support association" held a comment lottery to send UB customized hat and coat. Under the supervision and notarization of Weibo official lottery tool @ Weibo lottery platform, an enthusiastic fan in Ningbo was lucky to win. The fan has already received the prize, and in the microblog @ quiet style quiet style sun out the picture

4. On the 14th, UB team sent representatives to participate in the [chaine] blockchain Technology Salon Hosted by Babbitt and had interactive exchanges with the guests present. The salon was held in Yulong international building, Huli District, Xiamen city

5. Enthusiastic fans made the relevant expression pack (animation) for UB's upgrade and adjustment on the 10th, and spread it on wechat group

6, UB subscription number WeChat official account will be on the way to sign the lottery every day. Please look forward to it! p>

community release:

1. The last snapshot of issuing ubtc to Eth and LTC communities was completed on April 11, and the qualified addresses were released on May 2. Please refer to UB website for details www.ub.com The announcement in the news section on March 18

about ubtc:

unitedbitcoin, referred to as UB, code ubtc. UB is not only an upgraded version of bitcoin, but also a leading global blockchain ecosystem. UB is headed by Jeff garzik, a veteran of bitcoin, a core developer of bitcoin and a leader in the blockchain field

UB 100% inherits bitcoin's blockchain and upgrades and optimizes it. The upgrade and optimization of Ub include expanding the block size to 8MB, supporting segwit isolation witness, adding smart contract and lightning network, etc

UB is committed to bringing the inactive bitcoin credit into full play. Finally, based on these credits, we can issue stable currency anchored by legal currency, which can be used in a wide, fast, efficient and intelligent business society

at present, UB team has developed anybit mobile wallet app (anybit is a decentralized multi currency wallet APP), core, core QT and electrum wallet (electrum is a lightweight wallet supporting multi signature), and released a complete blockchain browser

more than 18 trading platforms around the world support ubtc trading

3. The first step is to find a new computer or an old computer with a low-level hard disk format, and install the Linux operating system Ubuntu when the network is disconnected (the following figure is an example of installing Ubuntu with a U disk):
the second step is to install the electrum bitcoin wallet< After installing the Ubuntu Linux operating system, install the electrum bitcoin wallet offline (I prefer electrum,
you can also use other light wallets such as multibit)
the third step is to generate a new cold wallet address
after installing, open electrum and create a new wallet, Follow the steps in Figure 4 to figure 8 to generate a new cold wallet address. By default, electrum creates five new addresses at a time,
note figure 8, and type "listaddress() & quot; The system will list the newly created five bitcoin addresses, and then use the getpubkeys command, or get the public key from the menu master public
key (public key and address are not the same concept). Please the public key and save it in a text file. Figure 9 shows the private keys of these five new addresses,
here is just for you to explain. For comparison with Figure 12, the five private keys are in the wallet of the never touch Linux operating system,
you should not do figure 9 in actual operation. And don't tell anyone else about your private key.

4. The first step is to find a new computer or an old computer with a low-level hard disk format, and install the Linux operating system Ubuntu when the network is disconnected (the following figure is an example of installing Ubuntu with a U disk):
the second step is to install the electrum bitcoin wallet< After installing the Ubuntu Linux operating system, install the electrum bitcoin wallet offline (I prefer electrum,
you can also use other light wallets such as multibit)
the third step is to generate a new cold wallet address
after installing, open electrum and create a new wallet, Follow the steps in Figure 4 to figure 8 to generate new cold wallet addresses. By default, electrum creates five new addresses at a time,

5. Big brands of course more assured, I am playing in the purse

6. Basically do not need you to operate, in the trading platform will be automatic operation, wallet will also have the corresponding guide
bitcoin cash (BCC) is a new type of blockchain asset proced by a hard bifurcation of bitcoin. It is a decentralized digital currency supported by a community of large block supporters. BCC removes segwit, cancels the limitation of 1m block size, supports 8m block size at most, and adheres to the expansion route on the chain. The purpose is to better realize the "point-to-point encrypted e-cash system" described in Nakamoto's white paper
after BCC successfully separated from the main chain of bitcoin on August 1, it went to an independent development road and was considered as a strong competitor of bitcoin in the community. Even some people in the community think that BCC is the real bitcoin.

7. Me medals
d.e.c. trial coin die essay coins
C.P. CAMEO PROOF
to tokens
T.S.C. trial strike coins
t oxidized
co coins
E.P. experimental piece
F.P. frosted proof
C.C. circulating coins
m.t.r. mule coin Satin finishes with two reverses
S.F.
c.c.c. circulating commemorative coins
m.t.o. mule coin with two reverses
B.U. brilliant u.n.c.
c.o.c. commemorative coins
E.C. variant error coins
cl.c. cladded coins
B.C. bimetal coins S
o.m.s. heterogeneous coin off metal strokes
pl.c. plated coins
L.C. leading coins
FA drama coin fantasy
de. denomination
P.C. thickened coin piefort coins
CF/ >Pr. mirror precision casting proof
ho. Laser coin hologram
P.L. quasi precision casting proof like
cm. Stamp chopmarks

AGW (actual gold weight) actual gold content
amulet lucky money is better than money< br />an (l' The year of [French]
anchor coinage (refers to the four denominations of silver coins made by Britain in the early 19th century for the colonies of Mauritius and the West Indies, named after the image of anchor)
ASW (actual silver weight)
ana (American Numismatic Association)
letterless currency
authentication
b
bag loss of bagmark
banknote
base metal, ordinary metal, non precious metal
bi metal (coin)
billon low content (less than 50%) silver coins
bit split coin, 1 / 8 (Spanish) peso
bid buy sale
blank
bracteate
bullion gold or silver ingot, pure gold coin, pure silver coin
bullion value (BV) is the original value of pure metal
C
cased set
cash, copper coin
cast coin, a coin made by casting
CFA franc central
CFA franc West
Ministry of Commerce, Chambre de commerce (France)
chop
currency coins
Civil War coins
clean, cleaning
clipped coin
cob (irregular shaped) silver coin (used in the Spanish colonies in America from the 16th century to the 18th century)
coin
coin album
coin alignment the front and back of a coin (the vertical lines of the front and back of the coin form 180 degrees with each other, i.e., ↑ ↓)
coin dealer
coin shop
coinage 1) coin, coin (collective noun); 2) Coin making, coin making
collect, collecting
collection
collector
colonial issues
colonial coins
colored coins
commemorative coin
condition (of coins)
superimposed busts
counter chips
counterfeiting
countermarked (C / M) with a stamp or a double impression
cowrie
crown, a kind of coin with a diameter of 33mm-42mm and a weight of 20g-50g
current coins
cut, cut coins
d
date
devaluation
decimal
decimal coinage
denomination
design pattern, image; Design
diademed
die, die
double die
double struck weighs heavily on the currency
cat European medieval trade gold and silver coins
MP core
e
ECD (East Caribbean dollar)
ECU (European currency unit)
edge instruction
edge decoration
EIC (East India Company)
efficiency head
EK (edge knocked)
electrum AMBER GOLD (natural gold silver alloy)
elongated coin
emergency coinage
enamelled coin
engraver
enlarged size
errors
essay (essai [French]), trial piece
exonomia, general numismatics, quasi numismatics
F
face
face value (f.v.)
fake money
fantasy coinage
field (outside the image and text on the coin surface) blank base
fineness
flan
FDC (Fleur de coin) [French] new currency in circulation
foreign coins
forgery
frosting
G
ghetto coins
German silver
genuine genuine, not made for
grade
grading
gun money is a coin made of metal from discarded guns (especially the emergency coin issued by King James II in Ireland from 1689 to 1691)
H
hammered coins make coins by hand
hard time tokens 1834-1844 emergency coins issued in the United States
hand made coins
hobo nickels (the American tramp in the 1930s who carved 5-cent Indian heads) coins
pig money
holey dollar (issued in Australia in 1813)
coins issued locally for colonial use
hub (used to press the working die)
I
imitation
included above. (Inc. ab.)
incuse
inflation money
ingot ingot
words or abbreviations
original value of metal on coins
investment, investment
issue price
J
jeton, jetton [French] chips
joint coinage
k
klippe
kriegsgeld [German] the local currency issued by Germany ring the first World War
kruggerrand, South Africa
L
legal tender
Legend (leg.)
leper coins
the (currency) side of the lettered edge
local issues< br />louis d' Louis gold dollar, Louis gold
lustre

machine made coins, machine struck coins
mail bid sale
market value (MKT. Val.)
matte
maundy money (Maundy Thursday).
Maverick (usually unidentified token)
medal, commemorative medallion
the front and back of the coin alignment type (the vertical lines of the front and back of the coin coincide and form 0 degree with each other, i.e., ↑
commemorative medallic issues
milled coins
mint
MINT set is an illiquid set issued by mint
Mint mark< br />mintmaster' The initials of the director of the mint
mintage circulation
mirror like surface
monetary reform
monetary system
monetary unit
monogram, acronym
motto inscriptions, proverbs
mule (e to the wrong use of front and back molds) mule coin
n
n.d. (no date) no date
n.c.l.t. (non circulating legal tender) legal money that has not entered the circulation field is non circulating legal money
Nick edge bump
non circulating
Notgeld [German], a period of intense competition in Germany ring the first World War and the postwar years
numismatic coins
Numismatic Society
numismatics
numismatist, numismatist, numismatist
o
obv
off metal strike (OFS)
over date coin
P
paper money
patina copper rust
pattern
PCs (pieces) (in the plural)
piedfort thickened coins
plastic holder small plastic bag
plain edge
plaster mold
plated coin
plugged coin
porcelain coin
precious metal
premium (the difference between price and face value)
prestige Proof Set
price list
private coin
privy mark
proof refines (coins) and polishes (coins)
proof set
proof like semi refined (coin), class refined (coin)
provas samples
R
rare
rarity
real size
reced size
recoding machine
trimmed edge
regional issue
relief, a protruding text or figure
Rev. (reverse)
relative scarcity
rentenmark [German] real estate mortgage mark issued in Germany in 1923
restrike (pressed in later years with the original model) is used to re make coins
revenue (printing)
rubbing
s
sale catalogue
sandwich coins
scratch
a coin issued in the absence of the Vatican Pope
seignorage is the difference between the original value and the face value
sigeg money

8. There are many kinds of bitcoin wallets, and cold wallets are the safest

9. Gold and silver ore: refers to gold ore, which is a mineral aggregate with sufficient gold content and can be used in instry; 2. Gold mines, places where gold is obtained through mining operations; The third refers to the geological gold deposit, which is the accumulation of gold ore with certain scale and can be used in instry
more than 99% of the earth's gold goes into the core. This distribution of gold is formed ring the long-term deepening of the earth. The crust formed in the early stage of the earth's development has a high gold abundance. Therefore, it can generally represent the Archean greenstone belt composed of the early resial crust, especially the mafic and ultramafic volcanic rock assemblage. The gold abundance value is higher than that of all kinds of rocks in the crust, which may become the earliest "source bed" of gold deposits
Silver Gold Deposit: refers to the natural or artificial alloy of gold, which contains at least 20% silver. The earliest known coins in the West were made from it
Gold occurs mainly in the form of argentogold, followed by native gold. The silver gold deposit is mainly granular, some of which are dendritic, vein and flaky. Its occurrence is mainly interstitial gold, followed by fissure gold and a small amount of inclusion gold. The main gold bearing minerals are pyrite and quartz, followed by galena, chalrite and sphalerite
when the silver content of gold ore reaches 10-15%, it is called silver gold ore.

10. from http://www.taobtc.net/ The wallet file of bitcoin QT client is wallet.dat, and the wallet file of multibit client is multibit.wallet. The file name, size and format of these two files are not the same, so how to switch? If you don't need to save the original address, it's the most convenient way to send the coin directly to the multibit address. If you need to keep the original address, you can export and import the private key. The details are as follows: 1. Open bitcoin QT client, find the address where you save money (you may have multiple addresses, find the one with money), right-click - ; 2. Open help debug window console in turn, input the command mpprivkey (space), paste the address just copied, and press enter; 3. Now you should be able to see your private key. It is a string of 52 characters, copied down; 4. Open multibit, assuming you have no money in it, select tool export private key, select path, select no encryption, and click export private key; 5. Use Notepad to open the. Key file that you just exported, which contains the private key that you just exported (the line that starts with #) is the comment). Change the private key to the one you just copied, and you can leave it at any time later. Save it and exit; 6. Click Tools - Import private key, select the. Key file modified just now and import it; 7. After a short update, you should be able to see the original address of the import and your balance in the original address. Remind: 1. Do not disclose your private key, know the private key can control the corresponding address of bitcoin! 2. Other clients, such as electric and armory, can import and export in a similar way, but the format of private key is 51 bit and 52 bit, which may not be universal.