Virtual currency generation
The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system. Bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network will get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as block reward to reward the person who gets the answer
litecoin (LTC), released on October 7, 2011, is the most valuable counterfeit coin at present, accounting for about 2% of BTC's market value. The current unit price is US $2.31, with a total currency value of US $38 million
this is also a distributed (decentralized) digital currency. Unlike the sha256 mining algorithm used by bitcoin, LTC adopts scrypt algorithm. Scrypt algorithm uses sha256 as its subroutine, and scrypt itself needs a lot of memory. Each hash is used as the seed of the input, and then it needs a lot of memory to store another pseudo-random sequence to generate the pseudo-random points of the sequence and output the hash value. In the mining of BTC (bitcoin), it is not enough to rely on simple graphics card mining (it takes about ten to dozens of days to dig a BTC with general configuration graphics card). The emergence of various expensive mining machines has raised the threshold for ordinary people to get BTC through mining, while LTC has certain advantages in using PC graphics card mining This passage comes from Zhihu.)
compared with BTC, litecain has made a little improvement in technology. If BTC is gold now, LTC is silver for the time being
the biggest advantage of litecoin is that it can confirm the authenticity faster. The virtual currency is designed and maintained by Charles Lee. Bitcoin transactions need to be verified, and the average verification time is more than 10 minutes. Most transaction websites need 1 hour to verify. The average transaction confirmation time of liteoin is 2.5 minutes. Developers claim that shortening the verification time increases the practicability of virtual currency. The bitcoin mining efficiency of customized machine and AMD GPU is the highest, making it almost unprofitable for miners using CPU mining. Litecain's mining excludes GPUs and custom processors, so it doesn't rely too much on a small number of professional miners
ppcoin
ppcoin (PPC) was released on August 19, 2012, which has improved the original technology of BTC. Use proof of make and add the concept of coin age
ppcoin is a bifurcated project of bitcoin, which aims to achieve energy efficiency and maintain the best performance of the original bitcoin as far as possible. The unit price of ppcoin is US $0.22 and the total currency value is US $4 million
ppcoin does not have a fixed upper limit of money supply, but it does not mean that ppcoin has obvious inflation compared with bitcoin. Bitcoin can be compared to gold. The annual inflation rate of gold is about 1-3%. Although gold has no known upper limit of money supply, we still know that it is a reliable scarce commodity
ppcoin has two types of casting: work certificate and equity certificate. The coinage rate of working proof is affected by Moore's law, which depends on the doubling of our working proof ability. What we all know is that Moore's law will eventually come to an end. By then, the ppcoin of inflation may be close to the gold level. The annual maximum inflation rate of certificate of equity is 1%. At the same time, ppcoin's transaction costs were destroyed to fight inflation. So on the whole, the coin design of ppcoin is still a very low inflation design in the future, which can be comparable with bitcoin<
ppcoin's reward is similar to lottery, which will determine the winning probability according to the number of ppcoin held by miners. Sunny king, one of the founders, said that their design is based on a new concept of long-term energy efficiency
terracoin
terracoin (TRC) was released on October 26, 2012, with a total currency of 42 million. The speed of each block is 2 minutes, slightly faster than LTC. There is not much special in technology, similar to the proction of BTC halved every four years
however, the operation team seems to have a strong business background and may be better than other bitcoins in circulation. The development of virtual currency is getting more and more attention. Now some teams with business background will accelerate the development of virtual currency
namecoin
namecoin is a distributed domain name system based on bitcoin technology. Its principle is the same as bitcoin. The first release date of this open source software is April 18, 2011
namecoin is generated from an original block which is different from bitcoin's main trading block. It uses a new blockchain, which is independent of bitcoin's blockchain. Because it is based on bitcoin, the security, distribution, robustness, encryption and migration of domain names are guaranteed mathematically. You can dig bitcoin and namecoin at the same time
this project was discussed and proposed by bitdns, which is mainly dissatisfied with the defects of DNS. The only top-level domain name of namecoin is. Bit. It costs namecoin to register a. Bit domain name.
The main background of net currency is the difficulty of domestic micro electronic payment. Online game operators use this channel is not cheap vouchers to charge fees. Originally, only RMB was allowed to be exchanged for net currency, but reverse exchange was not allowed. However, with the development of online game instry, people spontaneously exchange various kinds of online currency, and even use online currency to buy physical procts or services that only RMB can buy, forming a purchasing power similar to currency. The boundary between virtual currency and real currency is graally blurred
in fact, in countries with developed financial environment, virtual currency has appeared for a long time, and its purpose is to make profits. For example, the virtual currency "Wangdou" first introced by beenz. Beenz has reached an agreement with MasterCard that consumers can not only save their online beans into smart cards, but also use them in traditional stores. This business model is to sell virtual net beans to some websites for 1 cent each, and then send them to netizens or let them win through various ways. These virtual currencies can be consumed as cash in online stores. In the end, beenz will buy it back from the website operator for 0.5 cents each for a profit. In 2000, there were about 750 million beenz beans in circulation, equivalent to 60 or 70 million yuan. It was also at that time that China's online currency appeared. China bonus provided virtual currency to consumers in the form of points. Points accumulated to a certain amount, can be used to exchange phone cards, network cards, T-shirts and other prizes
in online games, virtual goods such as virtual gold coins, virtual equipment, virtual animals and plants, and virtual people have great attraction for players, which promotes the consumption of these virtual goods. However, e to the backwardness of domestic electronic payment methods and security concerns, players often use cash in advance to buy the virtual currency issued by operators, Then use these vouchers to buy virtual goods online. As long as the content of the game is attractive enough, players will buy the virtual currency issued by the game operator through various channels. The development of online game instry has led to the surge of virtual currency types and circulation
in order to gather popularity, expand the number of game users, and improve the interest and loyalty of players, all game operators provide a considerable amount of free virtual currency, and players can win virtual currency through the game process. Therefore, online game operators actually have unlimited rights to issue virtual currency. If virtual money is only used to buy virtual goods, because the supply of virtual goods is artificially set, and the manufacturing time can be almost ignored, even if there are transactions between different types of virtual money, it will not have any impact on the real economy. However, if virtual currency can be used to buy real goods and services, excessive issuance will certainly cause inflation. At this time, whether the virtual currency is converted into real currency is not important
many domestic network enterprises have broken through the boundary between the virtual economy and the real economy. For example, Netease popo rewards users with money according to their online time. This virtual currency can pay for SMS. The exchange rate in this application can be calculated with the payment capacity of a short message worth 1000 yuan equal to 0.4 yuan; In addition, it can also be used as a voucher for purchasing physical goods in Netease mall. Holders of Shanda point coin can buy paid download services on the Internet. In addition to the company's paid services, q-coin can also be used to purchase other game point cards, virtual goods, and even some video and software download services
the emergence of money is an abstract unit of quantity for the convenience of exchanging different resources. If there are enough people to recognize the value of a virtual currency, it may become a substitute unit of material exchange. For example, with the popularity of QQ, Q coin has graally become a circulating equivalent exchange unit. Adam Smith, a famous economist, used barter to explain the origin of money in 1776: "the armor of Diomedes is only worth 9 cows, while the armor of glaucus is worth 100 cows. In Abyssinia, salt is a common medium of Commerce and trade; More than 200 years later, many people are exchanging various kinds of game currency for real life needs, and the Internet world has begun to dece the origin of currency again
According to the white paper, the global borderless Libra coin has three cores: blockchain based, real asset guarantee and independent association governance. In other words, Libra coin is a "stable currency" guaranteed by the real asset reserve. Each Libra coin will have a basket of currencies or assets of corresponding value for trust endorsement, which is supervised by the founding members of Libra coin Association, and each founding member is responsible for running a verifier node. Facebook believes that there are still 1.7 billion alts in the world who are not exposed to the financial system and cannot enjoy formal financial services, and the current financial transaction costs are too high, so this pattern needs to be broken. According to its assumption, Libra is a stable currency and a super sovereign digital currency. By issuing "Libra coin", we will explore the establishment of a simple, borderless currency and financial infrastructure for billions of people
Titles can provide players with a certain attribute bonus
The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system. Bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network will get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as block reward to reward the person who gets the answer