China's virtual currency in 2018
Digital money is legal
digital currency itself is legal in China. Digital currency is defined as Internet goods in China, but the relevant supervision is still blank, and digital currency is still in the gray area in China. Well known digital currencies include bitcoin, Leyte coin, Ruitai coin, thousand gold card, dog coin, etc
however, there are also some non developers who use the cover of digital currency to carry out pyramid schemes, such as the Vicat scheme, treasure scheme, Porter scheme and so on
development materials:
digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency. In theory, it avoids bureaucratic examination and approval, so that everyone has the right to issue currency
Some virtual currencies are illegal in China. Chinese laws prohibit virtual currencies. The only legal currency in China is RMB. Since the people's Republic of China issued RMB, it has lasted 71 years. With the development of economic construction and the needs of people's life, it has graally improved and improved. So far, it has issued five sets of RMB, forming a multi variety and multi series monetary system of paper money and metal money, ordinary commemorative money and precious metal commemorative money
except for 1,2,5 fen coins, the first, second and third sets of RMB have been withdrawn from circulation, and the fourth set of RMB has been suspended from circulation since May 1, 2018 (except 1 jiao, 5 jiao notes and 5 jiao, 1 yuan coins). The current circulation of RMB is mainly the fifth set of RMB issued in 1999
the people's Bank of China is scheled to issue the fifth set of RMB 50 yuan, 20 yuan, 10 yuan, 1 yuan banknotes and 1 yuan, 5 jiao, 1 jiao coins of the 2019 edition from August 30, 2019. The fifth set of RMB inherits the traditional experience of China's printing technology and draws lessons from the advanced technology of foreign banknote design, which has greatly improved its anti-counterfeiting performance and currency processing modernization
Chairman Mao Zedong's head portrait in the early days of the founding of the people's Republic of China is used on the front of each denomination currency, the famous Chinese flower pattern is used on the bottom, and the main scenery pattern on the back fully shows China's long history and magnificent mountains and rivers, and carries forward China's great national culture by selecting representative patterns with national characteristics
There is no legal virtual currency in China
virtual currency refers to non real currency. Well known virtual currency, such as network company's network currency, Tencent company's Q currency, Q point, Shanda company's voucher, Sina's Micro currency (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver pattern (used for bixue Qingtian game)
the popular digital currencies in 2013 are bitcoin, Leyte coin, infinite coin, quark coin, zeta coin, BBQ coin, pennies (Internet), invisible gold bar, red coin and prime currency. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"
extended information: the particularity of virtual currency
the biggest difference between personalized virtual currency and stock market is not only the integrated pricing function with reference points, but also the distributed pricing function with reference points. This process is not completed in the virtual money market, but in the development of personalized modern services
< 2. Personalized virtual currency will have its own cultural value orientation
in the future personalized virtual currency trading market, price level information similar to today's stock index will also be formed. But different from stock index, personalized virtual currency price index will not reflect investment value-added information, but entertainment value, cultural value, spiritual value, freedom value and personality value similar to cool value
3. Personalized virtual money market will play a role in promoting traditional instries
with the development of game instrialization and instrial Gamification, indivial freedom has been comprehensively developed, that is, personalized self realization, which will become the ultimate goal of instrial upgrading. Traditional instries, including proct manufacturing and service instries, will take the satisfaction of spiritual and cultural values as the pursuit of added value of procts and services
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
a
Abdon vt; Abandon
absent a; Absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive absorptive; Attract the attention of; attract the attention of; Annexation; Abstract, abstract, abstract, abstract
A. large, abundant, rich
academic a; College's
accelerate v. accelerate, promote
accent n; Stress,
acceptable a; Desirable
access n; Channel; Close to
accident n; An unexpected event
accompanied by a company vt; Accompany with
complish vt. to achieve
accordingly ad; Correspondingly
account a; Account, account, account, account, account, account, account, account, account, account, account, account, account, account, account, account, account, account, account, account, account, account; Acquaintance
acquire vt; Learning (knowledge, etc.)
practical a; Violent; violent; Severe
adapt v; The address n. address n. address n. address n. address n. address n. address n. address n. address n. address n; Address; Speech
vt. write your name and address in; Speak to; Appropriate
adjust vt. to adapt to
Administration n; administrative organ; Government
admire v; To admit; admit; Let into
adopt v; Adoption
advance VI; Advance payment; Benefits; Interest
adventure n; Thrilling activities
Advertising v.
advisable a; Desirable
effect vt To be moved
to be able to afford (time); Provide
agent n.
aggregate A.
aggressive a; Aggressive
agreement n; Agreement, contract
agriculture n.
aid n.
aid n.
alarm n; Call the police to; To cause to panic
alter v. to change
amateura. Amateura.
amaze v. to amaze v.
ambition n.
amuse v; Funny
analysis n; Analysis of
ancestor n.
ancient A.
anniversary n.
announcement vt; Inform
annoy vt; I'm sorry, but I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry; Use in advance
anxiety n; Anxious A. anxious n. an apartment n.
apologize / - ise VI.
admit one's mistake; On the surface,
appeal VL appeals; Appeal
n; appeal; Attraction
appetiten; Desire
applicable a; Appointment n; Appointment
appraisal n; Appraisal, appraisal
appreciate v; understand; Evaluation; appreciate; Value added
approach VI; Treatment n. proximity; Approaches; Methods
approve v; Approval
approximately ad; Architecture
argument v; Discuss
arise VI; Generation; Rise
arousal v; Arousal, arousing
arrange v; Arrange, arrange
authority n; Authority The government
automatic A.
auto (= auto) n.
available A.
average; medium; The average v. is
avoid vt.
award n.
aware A.
aware A.
awful a; terrible; Extremely
awkward a; embarrassed; Intractable
b
background n; Experience
luggage n.
balance vt.
balance; Balance; Bankrupt bankrupt bankrupt bankrupt bankrupt bankrupt bankrupt bankrupt bankrupt bankrupt bankrupt barber barber; Only
vt. exposed, revealing
bargain n. transactions; Bargains
barrier n; Basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic, basic; Commitment; birth; Bear (fruit)
behavior (U) R n; Below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below, below; Benefit
beyond prep; More than
bitter a; Painful
black vt. blame, blame n. responsibility, fault
blank a; Blank space
block n; Block; Obstacles vt. blocking, blocking
toast v. boasting, boasting n. boasting, boasting
boil v. boiling; Boiling
bold a; Rash; presumptuous; In bold type,
bonus n; Bonus; Bonus
book n. Book vt. booking (tickets, tickets, rooms)
boom a; Prosperity, prosperity
border n; Border v. bordering on (adjacent to)
bore v; Anxiety, worry
bound a; Having obligations; Boundary n. bound for; Boundary
brainstorm VI. use your brain, make ideas, think of ways, offer suggestions
brake n. brake, brake VI. brake; Slow down
brand n. brand vt. brand in...
breed v; Breezes, breezes, breezes, bribes, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides, brides; Excellent
broker n.
budget n.
bullet n.
burden n.
C
cabinet n; Government cabinet
calculate v; Calculate
calendar n. calendar, monthly calendar
Calma; Calm v. (make) quiet, (make) calm
campaign n; Sports
campus n.
cancel vt; Delete
cancer n.
candidate n; Candidate
capable a; Ability; Proction
capture v. / n; Capture; Capture
career n; Career
cargo n. Cargo, cargo
carpenter, carpenter, carpet
carve, carve
case n; Cases; Case, case; Cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n. cash n; By chance
catalog (UE) n. catalogue n. caution n. caution v. caution v. stop v. end v. celebrate v. central a; The main
ceremony n; Challenge (Book)
challenge n. champion; Supporter
character n; characteristic; Characters Characteristic a; Asking for a price; Charging
n; cost; charge; Charging
charming A.
chase V / N.
cheek n.
cheerful A.
chimney n.
chimney n.
choice n; What to choose from: A. select, superior
chore n. (pl.) household chores
Street (TE) n. cigarettes
circulation n. circulation; Spread; Circulation Circulation of newspapers and periodicals (2) environment; Examples of the situation
cite v; Civil, citizen, citizen, civil a; civil; Civilization in China; Claim of Kaihua
claim vt; requirement; Claim n. claim; In order to classify, classify, classify, classify, classify, classify, grade, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify, classify; To commit to
Committee n.
commodity n; Commodity
common a; Common
communicate v; Communication
Community n; Social
Company n. companion, partner
comparison n; Compare with
compensate vt. force
compensate v. (damage) compensation
compete VI. competition
competent a; Skilled
complaint VI; Appeal
complex A. complex n. complex A. complex v. composed of; A. extensive and comprehensive
compromise n. / VI.
compromise v.
conceal v.
concentrate v; About, discuss
conclusion v; end; Concrete A. concrete vt; Sentencing
conference n.
conference v. admit, confess, plead guilty
confidence n.
confirm vt; Approval
conflict n; conflict; Conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict, conflict; overcome,