Token issued by Ethereum

1.

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

2.

Ethereum is the next generation of cryptography ledger. It intends to support many advanced functions, including user issuing currency, intelligent protocol, decentralized transaction and what we think is the first fully decentralized autonomous organization (Daos) or decentralized autonomous company (DACS) application

Ethereum does not specifically support every single type of function as a feature. On the contrary, Ethereum includes a built-in Turing complete scripting language, which allows you to write code for the feature you want to implement through a mechanism called "contract". A contract is like an automatic agent. Every time a transaction is received, the contract will run a specific code, which can modify the data storage inside the contract or send the transaction. Advanced contracts can even modify their own code

Ethereum was launched on November 1, 2015, and launched on August 22, 2016 on bitcoin trading platform, a well-known domestic trading platform; 30-¥ About 60, current: ￥ 1259.97, the rise is amazing

3. Really, Ethereum itself is a kind of virtual digital currency. When trading, it is a string of numbers. How can there be a fake? ZB trading has been going on for many years

4.

It does not belong to MLM

Ethereum is an open source public blockchain platform with smart contract function, which provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency Ethereum

the concept of Ethereum was first proposed by vitalik buterin, a programmer, from 2013 to 2014, inspired by bitcoin, to the effect of "next generation cryptocurrency and decentralized application platform", and began to develop through crowdfunding in 2014. The market value of Ethernet currency is second only to bitcoin, and it is the second largest encrypted digital currency in the world

extended data

bitcoin has created the first decentralized cryptocurrency, and has fully tested the feasibility and security of blockchain technology in more than five years. In fact, bitcoin's blockchain is a set of distributed database. If a symbol bitcoin is added into it and a set of protocol is specified, the symbol can be transferred safely on the database without trusting a third party. The combination of these features perfectly constructs a currency transmission system bitcoin network

however, bitcoin is not perfect, and the scalability of the protocol is a deficiency. For example, there is only one symbol in the bitcoin Network - bitcoin, and users can't customize other symbols. These symbols can represent the company's stocks or debt certificates, which will lose some functions

In addition, a stack based scripting language is used in bitcoin protocol. Although this language has some flexibility to realize functions such as multi signature, it is not enough to build more advanced applications, such as decentralized exchanges. Ethereum is designed to solve the problem of insufficient scalability of bitcoin

5. The original meaning of token is "token, signaling". Before Ethernet became the common protocol of LAN, IBM once pushed a LAN protocol, called token ring network. Each node in the network passes a token in turn, and only the node that gets the token can communicate. This token is actually a kind of right, or proof of rights and interests. With the popularity of the concept of blockchain and the emergence of Ethereum and its erc20 standard, anyone can issue a custom token based on Ethereum. It is a common practice that token is used as ICO in the market, so "token" is widely translated as "token" and accepted by people. However, token can represent any rights and interests, and proof is not limited to currency, so it is wrong to translate token into token. Token is a negotiable certificate of encrypted digital rights and interests.

6. This is the extension of the recently popular blockchain technology. Tongzheng economy is the third emerging economic system. It is a new form of Internet parallel digital economic system, which is related to bitcoin and other digital currencies.

7. The concept of "pass economy" is
"pass economy" is a value Internet, which enables every indivial and organization to issue pass based on their own labor force and proctivity, forming a self financing paradigm; One is the large-scale group cooperation based on Tongzheng, so that each value creating role can share the value fairly, fully mobilize the motivation of participation, and form a self-organization form
"general syndrome" features
three elements of general syndrome: syndrome, general syndrome and value
certificate: it is credible. As a proof of digital rights and interests, that is to say, a general certificate must be a certificate of rights and interests in digital form, representing a kind of rights and interests, an inherent and intrinsic value
pass: it can circulate in a large range, which means that you can verify and consume it quickly, and some of them can be traded and exchanged quickly. As a matter of fact, a pass can represent all rights and interests certificates, from ID card to diploma, from currency to bill, from keys, tickets to points, cards and certificates, from stocks to bonds, and all rights and interests certificates of human society can be represented by a pass
value: it must have economic value
many economists have explained the saying "economic value". God V once said that "economic value is a number". In order to increase the value of this number, most people are willing to pay the price or even sacrifice. This is a magic number. In fact, this thing doesn't necessarily mean anything. You will grow up for this number all your life. Can you really eat, spend and use it in the future? Not necessarily. And people will have a fascination with the growth of economic figures and the growth of the balance in your account. Then in order to get this kind of account growth, you will work hard, do other things, and pay your own price. Therefore, Tongzheng must have such a characteristic that it must be an economic number. Only when it is an economic number, can it make you all intoxicated. Then, in order to achieve this cooperation, pay the price, so that this cooperation is strong cooperation.

8.

Rc20 token standard (erc20 token standard) is a standard used to create token through Ethereum. According to the erc20 specification, a smart contract can be written to create a "interchangeable token". It is not mandatory, but following this standard, the token created can interact with many exchanges, wallets, etc. it has now been widely accepted by the instry

erc20 token standard was first proposed by Ethereum developer Fabian vogelsteller in the open source community. Later, Ethereum founder vitalik (known as "V God") wrote the first version of the document, which was called "standardized contract API" at that time_ Contract_ APIs

following erc20 token standard, smart contracts can be written. The token methods it needs to implement include: optional name, symbol, decimals, balance of, transfer, transfer from, approve, and allowance. The event responses it needs to implement include transfer, approve

in addition to erc20, Ethereum also focuses on erc721. Different from erc20, erc721 is a non fungible token standard (NFT)

The general syndromes of

erc20 are interchangeable and homogeneous, while the general syndromes of erc721 are not interchangeable and heterogeneous; Erc20 can be subdivided infinitely, while erc721 can not be subdivided because its minimum unit is 1

in June 2018, erc721 was officially accepted by Ethereum community and became the final standard. The popular cryptokitties followed the erc721 standard

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