The concept of virtual currency in white paper
In a narrow sense, virtual currency refers to the substitute currency circulating in the network virtual world. In addition to the virtual currencies issued by major online game companies with various names, Tencent Q currency is also widely used. At present, the network transaction of the virtual world has greatly exceeded people's imagination, and has formed a huge online transaction market of proction, supply and marketing. Moreover, a group of professional workers specialized in "coin printing" came into being; There are also special exchange shops for various game currencies
virtual currency and electronic currency are not the same concept
the definition of e-money is to convert a certain amount of cash or deposit from the issuer and obtain data representing the same amount. By using some electronic methods, the data can be directly transferred to the payment object, so as to pay off the debt. E-money means that consumers pay traditional money to issuers of e-money, and issuers store legal money of equal value with traditional money in electronic devices held by consumers
electronic currency is the electronization of the legal tender, including our common bank cards, Internet banking, electronic cash, etc., as well as the third party payment developed in recent years, such as Alipay, fortune paid and so on. No matter what form these electronic currencies are and through which institutions they circulate, their original source is the legal money issued by the central bank
but virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. For example, Tencent Q currency and other game currency, such virtual currency is mainly limited to circulation in a specific virtual environment. After the emergence of bitcoin, through the blockchain technology to better solve the problem of decentralization, distrust, to achieve global circulation, is sought after in the world. Electronic currency and virtual currency are collectively referred to as digital currency
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 cost③ 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 technology4. 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 agreementbitcoin 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
as we all know, bitcoin can realize point-to-point value transmission. In addition to bitcoin blockchain, there are many other blockchains, such as Ethereum blockchain. Therefore, we should distinguish the concepts of bitcoin, bitcoin blockchain, blockchain and blockchain technology
blockchain, which is first accompanied by the emergence of digital currency, has recently been widely discussed in the instry for its subversive impact on the existing financial field, and is known as a new round of change after the Internet technology revolution. As a distributed general ledger, this technology will first break out a huge force of change in the financial field: clearing, settlement, remittance, payment, value transmission, innovation and inclusive of the whole financial network, including all income groups, connecting regions and people separated by physical borders, and reshaping the whole economy and society
because blockchain is an open, transparent, traceable and tamper proof distributed general ledger system, blockchain technology can effectively rece the error rate of payment, clearing and settlement steps, and monitor the inflow and outflow of funds in each step, which is an effective means to promote the establishment of an honest society. Therefore, if the regulatory authorities can effectively use this technology, it will help to control the asset status and possible risks of the financial instry
China's blockchain enterprises continue to emerge
since 2015, China's attention and Research on blockchain technology has graally expanded
from the perspective of government departments, Zhou Xiaochuan, governor of the central bank, pointed out in February 2016 that digital currency must be issued by the central bank, and blockchain is an optional technology. Prior to that, the people's Bank of China also held a seminar on digital currency. In addition to the central bank, Zhejiang Province, Beijing and other relevant government departments also expressed their support for blockchain application research last year
from the perspective of enterprises, Wanxiang Group has established a blockchain laboratory, and many blockchain innovation and entrepreneurship enterprises continue to emerge< In addition, a number of instry alliances are being established. In December 2015, blockchain research alliance and blockchain Application Research Center were established; In February 2016, Zhongguancun blockchain instry alliance was established; In April, China ledger officially announced its establishment in Beijing<
blockchain concept stocks become the wind outlet
blockchain is like a database ledger, recording all transaction records. Because of its safety and convenience, this technology has graally attracted the attention of the banking and financial instry. According to the survey report of the world economic forum, it is predicted that by 2025, 10% of the relevant information in the global GDP will be preserved by blockchain technology. Blockchain technology is facing a blue ocean, and related concept stocks are becoming the wind. In A-share listed companies, it is suggested to focus on the concept leading stocks: Feitian integrity, Yuyin shares. In the future, with the fermentation of speculation, other concept stocks are expected to follow suit
according to the analysis of wind information, the brief comments of blockchain concept stocks are as follows:
Feitian integrity: the password technology interactive platform means to follow up the blockchain
Yu Yin Co., Ltd. is organizing a team to follow up the blockchain
win time: introce team to develop blockchain procts
China kejincai: integrated IT services for government banks
Tongfang shares: trusted computer integration
New Capital: password technology interactive platform means follow-up
Zhaori Technology: cryptography
Hang Seng Electronics: financial transaction information application
financial securities: financial securities software integrator
hailimeda: the company's shareholders participated in the round a financing of blockstream. Blockstream is the first company whose main business is to expand bitcoin protocol, leading the research and development of side chain expansion mechanism, connecting bitcoin and blockchain
SHUNFA Hengye: a company of Wanxiang Group
Westone: interactive platform means to follow up technology business and R & D
* ST Gongxin: Cloud Computing Security Technology (Han Technology)
Radio and television express: the interactive platform means to follow up technology business and R & D
mayabaco: electronic data forensics
torth: Tianxing network security - data exchange security
ASUS information: credit risk management
Blue Shield: security technology.
according to the definition of "appearance design", it refers to the new design of proct shape, pattern or their combination, as well as the combination of color, shape and pattern, which is aesthetic and suitable for instrial application
it can be seen that the carrier of modeling must be "proct". If your "coin" is a souvenir or decoration, it should be a proct and can be declared. But if your "coin" belongs to money, it can't.
diamond and rust jonbaya
My God! Your phantom appears again
but it's not unusual
just because of the full moon tonight, you happen to call
I'm sitting here on my mobile phone
listening to my familiar voice, it was a few light years ago
as if falling down continuously
vaguely remember that your eyes are bluer than robin's eggs (note)
you said that my poem is terrible
& quot; Where are you calling from& quot;< br />" At a phone booth in the Midwest
ten years ago, I bought cuff links for you, and you also gave me some things.
we all know what memories can bring us.
they give us diamonds and rust.
when you suddenly appear in front of me, you are already a legend.
a phenomenon that can't be guarded against.
a real tramp, you drift into my arms,
and your stay, Like a short voyage on the sea
with the blessing of the virgin
to protect you from being hurt
now, I see you standing in the yellow leaves
your hair covered with snow
you smile,
in front of the window of the hotel overlooking Washington Square
you and I exhale like white clouds
condensing in the cold air
for me
we almost died at that time
now you say to me, You are not nostalgic
so please find another word to replace
you have always been good at playing with words
to make it ambiguous and difficult to understand
because now I just need such ambiguity
everything in the past is too clear
Yes, I love you deeply
if you give me diamonds and rust again
I will tell you that I have paid a price, When they come into contact with old Western songs, there are several pieces that they can't do. On the one hand, they can practice their playing skills. On the other hand, they have beautiful melodies that last for a long time< After Joan Baez, an American folk song, there are several such works handed down from generation to generation, such as "Donna, Donna", "the night they drop Old Dixie Down" and "diamonds and rust". Among them, "diamonds and rust" is a more difficult piece
Joan Baya has a clear, pure voice and mature skills. Many famous composers are willing to provide her with works to sing, so most of her well-known songs are not written by herself. "Diamonds and trust." is the most well-known one of her own songs
the lyrics of this song are lengthy and the images are complex, so many people can't understand the meaning even after looking up the new words in English. The reason is that the lyrics are about a personal relationship with Joan Baya< In the 1960s, she met Bob Dylan, later known as "the father of folk rock" and the most famous work was "blowing in the wind". They both cherished each other and appreciated each other's talents, so they had a secret love affair
the relationship ended in nothing. In 1975, Joan Baya wrote this song, which is based on the feelings of her teacher and friend. Later, "diamond and rust" is also considered to be her best composition
in English, "diamond" is often compared to "good things in memory". There is a song called "some days are diamonds, some days are stones." its metaphor is similar, while "rust" and "stone" are used to refer to "bad things in memory".