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Blockchain is the most important innovation since the invention of the Internet and will become the infrastructure of the digital economy

Time : 23/04/2022 Author : iq1fkn Click : + -
        With the cooling down of cryptocurrency, many people in China may wonder why bitcoin is needed because bank card, wechat and Alipay transfer are so convenient?. Not all countries or regions have their own payment systems. For example, in the Russian Ukrainian war, after PayPal, googlepay and applepay stopped providing payment support to Russia, the Russian people's online payment service was in trouble. The existing electronic payment belongs to the centralized management system, with high cost and insufficient security. It is easy to be manipulated by people, and it is difficult to cover all people. Is there a way like using cash to make electronic payment to anyone at any time and anywhere, even with strangers thousands of miles away, without any middleman's coordination and knowing more about the other party.
        The intermediary of digital payment is indispensable because digital files are easy to copy but difficult to distinguish. Therefore, we can only rely on centralized data to record and avoid one person spending a sum of money twice (or more times), which is the so-called double payment or double spending problem. In other words, if we can create a virtual currency with cash characteristics in the digital world and create a technical system that does not need an intermediary and directly pays e-cash between people, then the value in the real world (such as equity, real property, intellectual property, etc.) can be transferred between people with similar technical systems. So as to make up for the missing link in the digital world and let us better conduct business transactions in the information dissemination network.
        In 2008, in bitcoin: a peer-to-peer e-cash system, Satoshi Nakamoto borrowed and integrated the previous achievements of "cryptopunk" and his own unique innovation to create the bitcoin system. On January 4, 2009, it created the first block in the bitcoin world & mdash& mdash; "Genesis block" won 50 bitcoin rewards. Since then, with the support of enthusiasts, bitcoin has gradually broken the circle and gained the support of merchants, consumers and investors. At present, the cryptocurrency family represented by bitcoin has grown into a virtual currency system worth more than one trillion dollars. When bitcoin was created, the world was hit by the 2008 financial tsunami, and the legal currencies of all countries were affected by inflation. However, bitcoin was regarded as "digital gold" because it would not be affected by inflation.
        Nakamoto combines the existing technological innovations and skillfully integrates the logic of technology and economy to build an elegant and exquisite bitcoin system. The main design principles are as follows:. Since the publication of bitcoin white paper by Satoshi Nakamoto in 2008, the bitcoin technology system has been stable, and it seems that it will continue to operate stably for a long time. Now, because bitcoin can simulate the function of gold in human economic society in the digital world, thus storing value across time and hedging currency devaluation, it is regarded as "digital gold" and has received extensive attention from investors and financial institutions. We believe that bitcoin is the most important innovation since the invention of the Internet. The blockchain will become the trading infrastructure of the digital economy in the future, and its decentralized characteristics will be promoted to various fields such as economic and social management, so that we can truly move from the information internet era to the value Internet Era.
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