IBM's virtual currency

1. virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world
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2. In addition to bitcoin, there are many other virtual currencies in the virtual world< Liteoin (LTC) was released on October 7, 2011, and is currently the most valuable counterfeit currency, 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

in addition, Q currency, Shanda currency, starting point currency and various online game currencies are also virtual currencies.

3. Of course, it's not reliable. Although the number of virtual currencies is limited (just like gold, because of its limited total number and fixed mining cost, its value is recognized by the world and can be used as the target of value preservation and investment), how many different virtual currencies are there in the world? There are unlimited kinds! There are bitcoin today, digital coin tomorrow, and digital coin the day after tomorrow~~

4. Understanding of the concept of virtual currency
(1) virtual currency based on entity
since ancient times, all "money" made of paper is called paper currency, and all countries in the world are actually paper currency. In Marx's time, paper money was only a symbol of metal money. The actual gold content of paper money was equal to the nominal gold content. When the nominal gold content was greater than the actual gold content, the price index of metal money would increase because of too many paper money. When it exceeded a certain limit, inflation would occur. Marx called these over issued bank notes without gold as guarantee virtual currency. In Keynesian era, paper money was the symbol of GDP. He defined the issue of paper money caused by making up the fiscal deficit as deficit money, and believed that the issue of paper deficit money could promote the development of proction to a certain extent, but only cause half inflation. Zhang chunjia's research in "Introction to virtual currency" also proves that paper money without precious metal and GDP guarantee will cause price rise, and this kind of money is called virtual currency
(2) virtual currency based on virtual
virtual currency is a new type of currency emerging at a certain stage of network social and economic development to meet the security and convenience needs of users. It represents the development direction of future currency existence form. It comes from the Internet, and acts as a general equivalent in the network society completely or partially. Virtual currency is a real currency with the basic attributes of currency, but it is virtual and depends on the network virtual environment. Virtual currency is born without borders, which makes it more liquid than traditional currency in the world. Virtual world corresponds to the real world. Through the exchange relationship between virtual currency and traditional currency, under certain conditions, specific virtual currency can buy physical goods, and traditional currency can also buy specific virtual goods< Second, the characteristics of virtual currency
1. Value: users get utility value by consuming the procts and services provided by operators. Virtual currency has value by providing exchange to meet the utility of consumers. The quantity of virtual currency measures the value of general goods. The issue essence of virtual currency is credit issue, which is the creditor's right of the holder to the issuer. To a certain extent, the value of this kind of claim is the right of claim
2. Virtual environment dependence. The existence of virtual currency is based on the virtual economic environment provided by the issuers and the sustainable operation of the issuers themselves. Otherwise, virtual currency has no significance.
3. Short sighted currency. As the highest price in the process of commodity exchange, the form of currency value can be regarded as the real currency. Because of the limitation of circulation scope, virtual currency can not be used as the general equivalent of all commodities; But in a certain range, it has the function of monetary value scale and circulation means. Therefore, it can be considered that virtual currency is similar to the form of money value, and it is a primary form of money, which is similar to money< The issue and circulation of virtual money is limited, but it will enlarge the money supply through the money multiplier effect, and affect the difficulty and accuracy of macroeconomic regulation and control. The issuers of virtual money need to report their circulation and circulation to the central bank, and obey the unified management of the central bank at any time
5. Virtual currency, which is issued by non-financial entities outside the financial system, aims to obtain business opportunities and competitive advantages. It is a market behavior and will inevitably lead to competition among issuers. This kind of competition will proce unfair competition behavior or obtain competitive advantage through rent-seeking, which determines the need to regulate the market behavior of the market subject according to the laws and regulations
6. Virtuality: as a kind of approximate currency, virtual currency is virtual existence if it only exists in the virtual world and can purchase the virtual property in it; If it is linked with sovereign currency, it can exist in the real world and purchase real assets, then it is a virtual thing of sovereign currency. Virtual currency is actually a series of data files existing in the computer system. It has the meaning of virtual currency only after the issuers explain the system. Therefore, the existence form of virtual currency is virtual< In general, virtual currency can purchase the procts and services provided by the issuers, and it can also be exchanged with the issuers outside the scope of issuance at a certain rate to purchase the procts of the alliance. For procts outside the alliance, virtual currency has no value significance; Similarly, when virtual currency is only authorized to buy different procts in different sales cycles, the use of virtual currency has limited application in time and scope, unlike sovereign currency, which can be completely freely exchanged
8. Separability: virtual currency has no physical form and is a digital storage information. Unlike traditional paper currency, it needs to consider the balance relationship between the circulation of main currency and subsidiary currency and the proportion of various currency values. It can be split infinitely. For example, although the total number of dark coins is only 2300, each bitcoin can be split into eight directions of ten< Although virtual currency exists in the virtual world, the process of new technological revolution has closely linked the virtual world with reality, and the virtual world has become an important part of people's spiritual life. It can promote the development of real economy, for example, a large number of entertainment application projects provide people with rich spiritual wealth and real wealth, and more and more people invest in virtual currency, which represents a trend, and the more successful ones are bitcoin, Leyte coin and the new domestic King coin; On the contrary, money laundering, gambling and network theft in the virtual world will have a negative effect on the real economy.

5. Aliens are the latest virtual currency in 2018
https://zhuanlan.hu.com/p/40879526

6. At present, the so-called financial projects of virtual currency basically do not exist, and they are all talking
if it is a reliable virtual currency, there will be relevant reports in the mainstream media. For example, bitcoin, Ruitai coin, Laite coin and doggy coin all have media reports. And digital currency is not a financial project.

7. Excerpt: yishop e-commerce system
in the past 20 years of the development of the Internet, there has never been a king in the field of B2C, only countless white bones. Even in the booming Chinese market, Jingdong is still struggling to survive, struggling to make profits< In general, there are only two ways to go for the self selling B2C: first, try to expand the scale, but lose all of them; Second, the vertical deep ploughing, the small fortune is the safety
historically, most independent B2C shopping malls started from vertical instries, such as Dangdang selling books, Jingdong selling 3C, Fanke selling shirts, and I buying online selling food. This choice is because entrepreneurs have purchasing experience and advantages in this field, and B2C in vertical fields is easy to form brand awareness
however, there is a problem in all vertical B2C shopping malls. The variety of vertical fields is single, the scale cannot be expanded, the revenue is limited, and it is very difficult to IPO, let alone explain to investors. As a result, many B2C shopping malls began to expand the scope of procurement and engage in comprehensive shopping malls. As soon as the scope of procurement was expanded, the cost rose steadily until the cost could not be controlled. Now many B2C shopping malls are taking this road, such as Jingdong, Dangdang and so on. But as early as many years ago, Amazon had already set up a purchasing center and a storage center all over the world. Later, it found that with the expansion of scale, the cost barrier increased, and the pressure rose. Soon, Amazon gave up this mode and went to engage in advertising services, music, e-book download, etc., never touching the purchasing and storage of physical goods again
if all the goods on Taobao are purchased by themselves? You can imagine what the cost is? What are the risks? Taobao has changed B into C with a move of attracting investment, which flatly throws out the cost and risk of purchasing, warehousing and sales. At the same time, zhongc has no need for IPO, so it doesn't need to make its own shops big and listed. It only needs to work hard and make a small fortune. Later, Taobao changed the big C into B and set up Taobao Mall to earn service fees. There is an old saying that when an instry makes money, it should not be engaged in the instry, but serve the instry. Taobao's model should be based on this
now B2C is a business that can make money, and many vertical B2C websites that sell underwear, diamonds and clothes are living very well, but they all have a dream of IPO. However, e to the limited scale of vertical B2C, it is easy to make money and difficult to go on the market, so they are constantly tossing around, turning themselves into traditional supermarkets with concrete and physical objects, carrying the cost to do their own sales, Naturally, it will not be suitable for the Internet era. B2C on the Internet should do value translation, realize electronic relationship, abandon cement and independent sales, and do brand and service construction
if you say that Amazon's success is an example, I can be very responsible to tell you that there are special procts in specific historical periods. Amazon belongs to the experimental results of the Internet exploration period. Now that the times have changed, we can't do experiments in the mature environment, we can only do things suitable for the mature environment.

8. The gold coin has appreciated.

9. B2C online payment business is a kind of business in which the bank provides online fund settlement services for enterprises (sellers) and indivials (buyers) when they trade through e-commerce websites on the Internet. At present, the BtoC online payment system of ICBC personal online banking is a payment platform specially developed by ICBC for online shopping of online banking indivial customers with ICBC Peony credit card account and online payment function
how to operate
after customers select goods on the ICBC special website, they can pay at the virtual cashier according to the website tips or links. Click the online payment icon of instrial and Commercial Bank of China, the customer will be taken to the online payment page of ICBC, and the order information will be encrypted and transmitted to the website of ICBC and cannot be changed. Customers only need to input their own ICBC online banking login card number and payment password according to the screen prompt, and confirm the submission. The system will prompt whether the online payment is successful or not. If it fails, it will prompt the reason for failure. Online payment customers must open their own peony credit card online payment function. Due to network speed, bank verification and other reasons, if the results can not be displayed in time after payment, please wait patiently. If there is no response for a long time, you can return to the payment platform interface of ICBC and submit the application repeatedly. If the system prompts "application has been submitted, please do not submit repeatedly", it means that the payment is being processed
(1) what is B2C online payment business? B2C online payment business is a kind of business in which the bank provides online fund settlement services for enterprises (sellers) and indivials (buyers) when they trade through e-commerce websites on the Internet 2 How to realize B to C online payment for indivial customers? After the customer submits the order and confirms the order on the special website of ICBC, they can directly enter the online payment interface of ICBC through the hyperlink on the special website. The order information is encrypted and transmitted to the website of ICBC, and cannot be changed. The customer enters the card number and payment password of the login card and submits the payment instruction to complete the online payment 3 When indivial customers query the transaction status of B2C online payment, the system prompts "payment succeeded, merchant not informed" what does it mean? The above situation is e to unforeseen circumstances such as network or system failure, and there is no timely exchange of customer payment records between banks and merchants. But customers don't have to worry about the loss of funds, because the bank has kept the customer's payment records, and will send payment information to the merchant after the problem is eliminated or regularly. The merchant can also know the customer's payment records when checking accounts with the bank, so as to complete the transaction 4 What are the requirements for becoming a B2C special website of our bank? 1. Registered in the local instrial and commercial department, with independent legal person status; 2. Establish a trading place for selling goods or providing services on the Internet, and establish a secure and stable network connection with the online payment server of the head office of our bank through the Internet; 3. Open RMB settlement account in local instrial and Commercial Bank of China; 4. The business behavior conforms to the relevant national laws and regulations, and has good reputation 5 What information does the company applying to become our B2C special website need to provide to our bank? The following application materials should be submitted to the local designated organization of ICBC: 1. Copy and of business license; 2. Valid identity documents of the handling personnel; 3. Completed application form for registration of special website; 4. Copies of the balance sheet and income statement of the most recent year; 5. A of the domain name registration certificate or other proof of the rights of the domain name provided; 6. Electronic document of enterprise logo; 7. Completed "peony card unit application form" 6 In the process of developing special websites, what should B2C websites do? B2C special website needs to do the following work: 1. Submit application materials and other materials required by the branch. 2. Get the peony card unit application form and the reference sample of online payment agreement. After filling in and signing, submit the application form and the signed agreement with a of the applicant's ID card to the branch. 3. After receiving the B to C interface software and test password envelope, arrange technicians to test in time according to the interface requirements. 4. After the test is successful, it is necessary to submit the report on the test (the report template is attached in the test interface), website logo, and provide the test environment. 5. Formally receive the website login password, ICBC logo, merchant certificate, merchant certificate password, peony business card and an agreement signed by both parties. 6. Timely add ICBC logo and links in relevant columns according to the agreement, and add ICBC payment method in the payment page. 7. Inform ICBC to add the website logo 7 How does B2C special website handle return transaction? After opening the browser, the special merchant can enter the address and path of the web server in the address bar to enter the login page of merchant management, and use the merchant code to log in to the merchant end of the personal online banking subsystem to handle the return transaction. The authorization number and transaction serial number can be obtained from the successful payment information sent by the bank; Transaction serial number is the bank's transaction serial number; Return amount is in yuan, accurate to minute 8 What fees do B2C special websites need to pay to our bank? B2C special website needs to pay service charge to our bank. The service charge standard refers to the relevant regulations of bank card business management, which is usually 1% of the amount of each online transaction
applicable objects
all kinds of e-commerce websites, schools, training centers, civil aviation, all kinds of enterprises and institutions, etc.

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