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What is digital currency?

Time : 03/07/2021 Author : lso21h Click : + -
        At present, there are several mainstream digital currencies in the market. In addition to the usual ones, there are also Wright coin, Ruitai coin, ppcoin, ether coin, dog coin, and Yuanbao coin, quark coin, Diandian coin, Kate coin, infinity coin, and civilian coin are also a kind of digital currency. Expansion materials: Digital RMB, whose acronym is tentatively "e-cny" according to international usage practice, is a legal tender in digital form issued by the people's Bank of China. It is operated by designated operating institutions and exchanged to the public. Based on the generalized account system, it supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, has value characteristics and legal compensation, and supports controllable anonymity.
 
        The concept of digital RMB has two key points. One is that digital RMB is a legal tender in digital form; Another point is that it is equivalent to paper money and coins. Digital RMB is mainly positioned at M0, that is, cash and coins in circulation. It is mainly targeted at cash payment vouchers (M0), which will coexist with physical RMB for a long time. It is mainly used to meet the public's demand for digital cash and help Inclusive Finance. At present, the research and development test has basically completed the top-level design, function research and development, system debugging and other work, and is following the principles of stability, safety, controllability, innovation and practicality, selecting some representative regions to carry out pilot tests. Compared with virtual currencies such as bitcoin, digital RMB is legal currency, which is equivalent to legal currency, and its effectiveness and security are the highest. While bitcoin is a virtual asset, which has no value foundation and does not enjoy any sovereign credit guarantee, and cannot guarantee the stability of value.
 
        This is the most fundamental difference between the central bank's digital currency and encrypted assets such as bitcoin. Digital RMB adopts a two-tier operation system. That is, the people's Bank of China does not directly issue and exchange the central bank's digital currency to the public, but first converts the digital RMB to designated operating institutions, such as commercial banks or other commercial institutions, and then these institutions convert it to the public. Operating institutions need to pay 100% reserve to the people's Bank of China, which is the 1:1 conversion process. This two-tier operation system is basically the same as that of banknote issuance, so it will not have a great impact on the existing financial system, nor on the real economy or financial stability.
 
        Under the current digital currency system, anything that can form a unique identification of personal identity can become an account. For example, the license plate number can become a sub wallet of digital RMB, which can be paid when passing the highway or parking. This is the concept of broad account system. Digital currency is abbreviated as digiccy, which is the abbreviation of "digitalcurrency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digital currency. Digital currency is different from 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 currencies, such as bitcoin, Wright coin and ppcoin, rely on verification and cryptography to create, issue and circulate electronic currencies. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate money, theoretically avoiding the approval of the bureaucracy, so that everyone has the right to issue money. Digital currency currency extended reading: digital gold currency is a form of electronic currency named after the weight of gold. The typical unit of measurement of this currency is the Troy gram or troy ounce, although gold dinars are sometimes used.
 
        Digital gold currency is funded by gold storage without quotas or decentralized quotas. By January, 2006, digital gold currency providers held more than 8.6 metric tons of gold as reserves, valued at about 154million US dollars. The relevant person in charge of the central bank said that the digital currency research team of the people's Bank of China should establish a more effective organizational guarantee mechanism, further clarify the strategic objectives of the central bank's issuance of digital currency, do a good job in tackling key technical problems, study the multi scenario application of digital currency, and strive to promote the digital currency issued by the central bank as soon as possible. There are thousands of digital currencies, and digital currencies are born every day. The world's well-known digital currencies include bitcoin, Ethereum, Ethereum, Zec coin, dogcoin, Wright coin, ripo coin, Yuanbao coin, Diandian coin, etc.
 
        At present, there are about 1600 kinds of digital currencies in circulation in China. The world's well-known digital currencies include bitcoin, Ethereum, Ethereum, Zec coin, dogcoin, Wright coin, ripo coin, Yuanbao coin, Diandian coin, etc. Here is a brief introduction to several mainstream digital currencies to give you a rough understanding. After that, I will talk about specific currencies in detail from time to time. N bitcoin, the originator of digital currency, is the most valuable virtual currency. The blackmail virus only received bitcoin by name and entered the public view. The soaring price of bitcoin in 2017 attracted a large number of investors to enter the digital currency market. Due to the small number, there are only 21million, which has a strong deflationary attribute.
 
        N of course, I am extremely optimistic about the future of bitcoin. Of course, many people are not optimistic about digital currency. Here, Krugman's view is the most pertinent: "at least for now, buying bitcoin is a good investment. But this does not mean that this experiment has been successful. The original intention of establishing a monetary system is not to make those who hold money rich, but to make transactions convenient and benefit the entire economy. These bitcoins have failed to bring us.". Ruibo coin is a kind of agreement currency issued by Ruibo company, the base currency of Ruibo network. It can circulate in the whole Ruibo network, with a total amount of 100billion, and gradually decreases with the increase of transactions. Ruibo coin is the only general currency in the ripple system, which is different from other currencies in the ripple system. The operating company of Ruibo coin is ripplelabs (its predecessor is opencoin).
 
        Unlike bitcoin, ripo coin is a kind of trading agreement, which is called smart contract in professional terms. It supports people to make payment transactions in any currency, and the feature that there is no need for a central data exchange center makes the transaction confirmation time of ripple only 35 seconds, while bitcoin takes 10-40 minutes. Ethereum is the name of currency used in Ethereum, which is used for payment calculation in Ethereum virtual machine. Ethereum is a blockchain that can be used to deploy decentralized applications. It is an open source computer platform and blockchain platform. It was created by vitalikbuterin, a Russian programmer, at the end of 2013. N there is a key difference between the blockchain technology used by Ethereum and bitcoin. Ethereum's data processing speed is faster than bitcoin, because once agreed, Ethereum's system will automatically apply to the terms and conditions in the contract.
 
        N unlike bitcoin, the value of Ethereum depends on the prosperity of applications on Ethereum. Just as more machines use oil, the price of oil will rise. Bitcoin cash is a fork of bitcoin. In order to solve the problem of long trading time of bitcoin, at 20:20 on August 1, 2017, a small number of mining machines began to use 8m block to start mining, and the transaction confirmation speed was thousands of times that of bitcoin using 1m block. But strictly speaking, whether this is a new branch of bitcoin or another kind of "fake coin" varies in the industry. But now the offer of bitcoin cash has been nearly 20000 yuan, and it is not too much to treat it as a "fake currency" to divide up bitcoin flow.
 
        Ida coin, English ADA, is the product of Cardano project. The total amount of IDA coins was 4.5 billion, and 3billion participated in the subscription. Among them, 2.5 billion ADA is used for platform subscription, 500million is used for the financial support of development companies and operating companies, and 1.5 billion ADA coins are continuously issued in the form of block awards. Cardano is a project that started in 2015 to change the way cryptocurrencies are designed and developed. This project is aimed at the technical reformers, the technical improvements of bitcoin and existing platforms. If there are many other shortcomings of bitcoin, Ethereum and other projects, Cardano can solve their patches.
 
        Wright coin is a currency based on bitcoin protocol, but it does not require very high computing power. It can also be mined using ordinary computers. Wright coin's algorithm is derived from the algorithm designed by drcolinpercival for tarsnap's secure online backup service (for Linux and other open source operating systems). N for a long time, there has been a voice that "Wright coin will replace bitcoin", which is impossible. In the future, there are likely to be a variety of cryptographic currencies in the world, but any kind of counterfeit currency can not replace the mainstream position of bitcoin, no matter how excellent its algorithm is compared with bitcoin. Stellar, a digital currency project initiated by jedmccaleb, the former founder of ripple, is used to build a decentralized gateway for the transmission between digital currency and legal tender.
 
        It will be provided to users in the form of free distribution, and they will supply% of the online amount of star coins for free distribution. Stellar is a diversified team. Its board members include keithrabois, the former chief operating officer of square, patrickcollinson, the chief executive officer of stripe, and jacksonpalmer, the co-founder of dogcoin, and navalravikant, the co-founder of angellist, will serve as consultants for the project. N new economic movement &mdash& mdash; Neweconomymovement, or NEM for short, was founded on January 19, 2014.
 
        The founder is a mysterious person named utopianfuture. The original intention of utopianfuture was only to establish a copy of the second-generation digital currency NXT. He then realized that NXT's distribution mode was unreasonable, so he devoted himself to NEM, which has an egalitarian distribution mode. N as a cryptocurrency, xinjingcoin does not need much computing resources to maintain the operation of nodes. The proof of importance (POI) engine of NEM reduces the threshold of computing resources that participate in traditional blockchain. Dascoin was once known as Diablo coin, a kind of counterfeit coin of bitcoin, which mainly plays the function of anonymity. There are many innovations, such as master node network, fast payment, mixed currency anonymous technology, voting with proposals, and fixed budget support for developers.
 
        The core consists of a unique incentive P2P network. Miners are rewarded for maintaining blockchain security; The owner of the master node is rewarded for verifying transactions, storing data and providing a variety of services for users. The anonymity meets the needs of some investors for absolute privacy. Although bitcoin is also widely used in illegal transactions such as money laundering and other prohibited items because of its anonymity, it is only "pseudo anonymity", and the transaction of bitcoin can still be traced back to the traders themselves. "At present, there are about 1600 kinds of digital currencies in circulation in China. The well-known digital currencies include bitcoin, Ethereum, Ethereum, Zec coin, dogcoin, Wright coin, reborn coin, Yuanbao coin, Diandian coin, etc.
 
        Countries around the world are still trying to classify cryptocurrencies. The SEC even set up a special office to deal with fintech and new digital assets. ". The type of bitcoin is a virtual currency, which is a centralized currency in the payment system. It is not issued by a single currency issuing institution. Or through a large number of calculation methods. In the future, bitcoin may become the common currency of the network. At the same time, we need to pay attention to that, whether in reality or online, do not buy this virtual currency, because first of all, it is uncertain, not a professional investor, not sure whether he can rise or fall.
 
        Moreover, we can't see the international situation at the first time, and we don't know whether this thing will be affected by public opinion, resulting in its disappearance. Moreover, for ordinary families, some people still have problems in surfing the Internet, so the existence of this virtual currency is also a meaningless thing for families, and it is impossible to solve their own food and clothing. Therefore, we also suggest that you should be down-to-earth and buy less and understand these things. Digital currency has the main characteristics of network packets. This kind of data packet is composed of data code and identification code. The data code is the content we need to transmit, and the identification code indicates where the data packet comes from and where to go.
 
        Based on the characteristics of digital money, the direct benefit of digital money to the central bank is not only to save the cost of paper money issuance, circulation and settlement, but also to enhance the central bank's ability to control funds. Electronic currency and virtual currency are collectively referred to as digital currency. According to the definition of the European Central Bank, virtual currency is issued by non central banks, credit institutions and electronic money institutions, and can be used as a numerical expression of the value of currency substitutes in some cases. Digital currency is not an international currency, let alone a legal currency. In Asian countries, the attitude towards digital currency is relatively conservative. Most of the well-known digital currencies are imported products, such as bitcoin, Ethereum, Wright coin and so on.
 
        Domestic excellent digital currencies include Ruitai coin, tebi yuan, Yuanbao coin and so on. Return to Sohu to see more.
 
        
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