No one cares about virtual currency

2. Reason: with the rapid development of information technology, real money is far from meeting people's demand for capital flow. If there are enough people to recognize the value of a virtual currency, it may become a substitute unit of material exchange, and the existence of virtual currency will inevitably cause another upsurge in the financial sector
in view of the possible risks of virtual currency, many international organizations and central banks have responded publicly to the supervision of virtual currency system. These responses can be roughly divided into four categories: warning and risk warning, supervision and registration permission, legislative norms, and explicit prohibition
(1) warning and risk warning
some central banks and regulators have issued risk warnings against the special currency and virtual currency system. The federal financial regulatory authority of Germany, the Bank of France, the central banks of the Netherlands and Belgium have issued public warnings against the possible money laundering and terrorist financing caused by the use of bitcoin. In the report released at the end of 2013, the European Banking authority (EBA) warned consumers of many risks of virtual currency, such as exchange loss, e-wallet theft, unprotected payment, price fluctuation and so on. Although Spain did not have a similar risk warning, it issued a timely information announcement related to virtual currency
(2) supervision and registration license
generally speaking, international organizations believe that the supervision of virtual currency should find a balance between risk prevention and innovation promotion. Since 2012, Sweden has required transactions related to virtual currency to be registered with financial regulators. Other countries pay attention to qualification supervision, so as to make it indirectly meet the requirements of prudential supervision. In other countries, the regulation mainly focuses on the business model of virtual currency transaction. The financial prudential regulatory authority of France regards the provision of bitcoin circulation and trading services and the act of earning funds in the process as a payment service and requires the authorization of the government. In addition, some countries focus on the intermediary institutions related to virtual currency. The German federal financial regulatory agency and Danish regulators believe that the provision of intermediary services for virtual currency needs to be authorized< (3) legislative norms
at present, some countries have proposed legislation to regulate virtual currency transactions. Canada plans to legislate to allow the government to supervise the transaction of bitcoin, and to include the transaction of more than US $10000 into the scope of suspicious supervision. The United States hopes to adjust the relevant legal structure should be compared with the development of the special currency. In order to make the Bank Secrecy Act (BSA) applicable in the context of network, the financial crime enforcement network (FinCEN) of the U.S. Department of the Treasury issued the explanatory guidance on the behavior and subject definition of private generation, holding, distribution, trading, acceptance and transmission of virtual currency in 2013. The European central bank stressed that it should strengthen international cooperation under the existing legal framework, and regulate virtual currency from the European and global level under the existing legal framework. More countries believe that bitcoin is not a currency in circulation, has no legal status, and does not meet the definition of financial instruments, such as Finland, Sweden, Malaysia and Indonesia
(4) it is forbidden
in some countries, bitcoin related transactions are prohibited. In December 2013, the people's Bank of China banned financial institutions from trading in bitcoin, which was subsequently extended to payment service providers. The central banks of Thailand and Indonesia share the same attitude. The circulation of anonymous internet currency (including bitcoin) is prohibited by the Russian judicial inspection department as a substitute for currency. The Central Bank of Russia has earlier included the provision of bitcoin services in the scope of suspicious transaction monitoring. The U.S. Securities and Exchange Commission (SEC) has banned the issue of unregistered shares in exchange for bitcoin, and unregistered online securities trading activities in virtual currency.

3. The concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items< On February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that relevant institutions would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency
from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees
hope to adopt

4. In popular words: if we assume that the database is an account book, reading and writing the database can be regarded as a kind of bookkeeping behavior. The principle of blockchain technology is to find the fastest and best bookkeeper in a period of time, and then send this page of information of the account book to everyone else in the whole system. This is equivalent to changing all the records in the database and sending them to every other node in the whole network. Therefore, blockchain technology is also called distributed ledger (currency exchange digital currency trading platform)

5. Cross chain, as the name suggests, is through technical means, can let the value across the obstacles between the chain and the chain, direct circulation. Cross chain is essentially the same as currency exchange. Cross chain doesn't change the total value of each blockchain, just exchange between different holders

cross chain is a complex process, which requires the chain to obtain and verify the information outside the chain, and requires the node to have a separate verification ability, etc. There are four implementation modes of cross chain technology: Notary mode, side chain / relay, hash lock and distributed private key control

I. notary schemes is the simplest way to use the chain to chain interaction. One or a group of trusted groups declare that something has happened in chain a to chain B. The famous application of notary mode is the rebor interledge protocol<

interleaver protocol was proposed by rebor laboratory in 2012. It connects two different blockchains (accounting system) through a third-party "connector" or "verifier", so that they can freely exchange currency. In this process, the accounting system does not need to trust the "connector", because the agreement uses a cryptographic algorithm to create a fund custody for the two accounting systems. When all parties reach a consensus on the transaction, they can trade with each other

Second, the side chain / relay

the side chain is also a blockchain, which can verify the data from other blockchains and realize the mutual transfer of bitcoin and other assets between blockchains, forming a new and open development platform. Some time ago, the popular project Ethereum lightning network is the side chain technology. When the participants using lightning network transfer money to each other, they do not need to confirm the transaction through the Ethereum main chain, but create a micro payment channel between the participants to complete the transaction under the main chain. The main applications of side chain are: RSK, BTC relay, etc

we have talked about side chain technology before. If you want to know more about small partners, you can review it here< (3) hash locking

hash locking originated from HTLC (hashed time lock contract) of lightning network. It is through the formation of a smart contract to ensure that the transfer between any two people can be realized through a "payment" channel, completing the role of "intermediary". The two sides of the transaction first freeze part of the money and provide an hsah value through the smart contract. Who can match the hash value within the set time of the contract, then the frozen money belongs to whom

although hash locking realizes the exchange of cross chain assets, most scenarios can support the mortgage of assets, but it does not realize the transfer of cross chain assets, let alone cross chain contract, so its application scenarios are relatively limited< Distributed private key control uses a protocol based built-in asset template to deploy new smart contracts and create new assets according to cross chain transaction information. When a registered asset is transferred from the original chain to the cross chain, the cross chain node will issue the corresponding equivalent token for the user in the existing contract

the operations of realizing and releasing distributed control management are called lock in and lock out. Lock in is a process of distributed control management and asset mapping for all digital assets controlled by key. At this time, the decentralized network needs to be entrusted to take charge of the user's private key, and the user needs to master the private key of that part of the proxy assets on the cross chain. When it is unlocked, the control of the digital asset is returned to the owner. The main applications of distributed private key control are: wanchain, fusion and so on.

6. Cryptocurrency (English: cryptocurrency, often used in the plural cryptocurrency, also translated as cryptocurrency, cryptocurrency) is a kind of transaction medium that uses the principles of cryptography to ensure the security of transactions and control the creation of transaction units. Cryptocurrency is a kind of digital currency (or virtual currency). Bitcoin became the first decentralised cryptocurrency in 2009, after which the term cryptocurrency mostly refers to such designs. Since then, several similar cryptocurrencies have been created, commonly known as altcoins. Cryptocurrency is based on the consensus mechanism of decentralization, which is opposite to the banking and financial system relying on the centralized regulatory system
the nature of decentralization comes from the blockchain technology using distributed ledger<
Chinese name
cryptocurrency
foreign name
cryptocurrency
domain
blockchain
cryptocurrency other than bitcoin
cryptocurrency other than bitcoin, also known as Shanzhai currency and competitive currency (English: altcoin), is a virtual currency similar to bitcoin, which is proced by referring to bitcoin's thought, principle and source code, At present, there are more than 800 kinds of cryptocurrency in circulation
from February to April 2017, the proportion of Shanzhai currency in the total cryptocurrency market value increased from 15% to nearly 40%
because bitcoin itself does not have an authoritative issuing institution and state power to maintain its authority and uniqueness, bitcoin and its imitators can only live on an equal footing, although it is the earliest virtual currency, the most well-known and familiar one, and has the largest user network community with strong network effect, Most of the time, it is also the password currency with the highest market value, but it does not have the absolute exclusive status[ 1]

7. Different pass conversion or cross chain requires service charge, which is very low.

8. Bitcoin is a kind of electronic money payment system based on the global network. Bitcoin is an electronic money system with a fixed total amount, which is established on the global decentralized network system without the participation of central banks and third-party institutions. Bitcoin has the characteristics of payment system and currency at the same time. Global network nodes are maintaining the bitcoin network all day
its main features are as follows:
1. Decentralized bitcoin is the first distributed virtual currency. The whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
2. Bitcoin in circulation around the world can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin
3. Private key is required for exclusive ownership control of bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
4. Bitcoin can be remitted free of charge at low transaction cost, but in the end, a small transaction fee will be charged for each transaction to ensure faster transaction execution
5. No hidden cost as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay
6. Bitcoin is not completely anonymous

9. Humanized management must be based on strict rules and regulations. If there is no strict rules and regulations, humanized management will be a fish without water and will be submerged in the chaotic ruins< At the beginning of the establishment of a certain system, humanization should be subordinated to institutionalization to a certain extent. This is because people, perhaps e to one-sided and incomplete understanding, or the selfish needs of human nature and other factors, will put forward such and such non benign and unreasonable management regulations from different personal interests or habits It's not constructive, it's not exploratory, it's difficult and it's ignored. At this time, if we excessively consider "people-oriented", then this management regulation can not be established, let alone establish its e authority and seriousness

at the beginning of the establishment of each charter, people will have such and such maladjustment and discomfort, which requires managers to spend their energy to guide them with strict rules and regulations. As time goes by, people will consciously abide by the management rules when they are familiar with and understand them. Only when a strict management system is formulated, can the human factors existing in the management process be reced, and the most basic needs of humanization be met to the maximum extent (physiological needs, safety and stability needs, social love and belonging needs, self and respect needs, self realization needs), Only in this way can the humanized management be given full play to the charm of a good environment, and the humanized management develop towards the direction of kindness, beauty, brilliance and rationality in human nature. Without strict and thorough management regulations, no matter how perfect the humanized management will be, it may be able to support for a while under the influence of institutionalization, but if there is a slight change, how can the so-called "rule by doing nothing" stand the attack of wind and rain

"no rules, no square", no sound management regulations, no strict implementation, will form a chaotic situation of fish eyes mixed with pearls, bricks flying around

specific analysis of specific problems, for a certain management regulation, at the beginning of formulation, humanization needs to be subject to institutionalization; For a forum and an enterprise, the situation is quite different, because at the beginning of its establishment, the scale is small, the rules and regulations are not perfect, the interpersonal relationship is simple, the external contact is less, the common creation goal is driven, it is easy to form a common aspiration, and it is also easy to communicate. Therefore, at this time, the humanized management may be more than the institutionalized management

with the increasing scale of the forum, the internal relationship is complex and the management level is graally increasing. At this time, if there is no strict management system, all operations will be difficult to operate normally. At this time, strict management regulations must be formulated to restrict indivial behavior

humanized management uses appropriate means to stimulate the good side of human nature according to people's needs and characteristics. The premise of humanized management is mutual understanding and respect, and the guarantee of understanding and respect is reasonable rules and regulations. Without these, respect and understanding will be empty talk and bubble, as well as selfish and disordered sand.

10. Side chain architecture, cross chain call, these terms may be familiar to friends who are familiar with blockchain technology. At the same time, side chain architecture and cross chain call are also the outstanding advantages of sacbox, in which cross chain call is mainly realized by obtaining user authorization.