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⑴ Is blockchain technology expected to lead mankind into the era of machine trust?

Recently, the concept of blockchain has made a comeback. Since February, the U.S. House of Representatives has held two blockchain hearings in succession, elevating blockchain to a “revolutionary technology” and exploring its future applications and impact on finance, business and government. At the same time, Russian President Vladimir Putin also stated that Russia will focus on developing blockchain technology to strengthen Russia’s voice in international competition in the field of cutting-edge technology. In China, more and more industries are beginning to pay attention to the field of blockchain technology, and this concept has also become one of the hot topics discussed by representatives during this year's "Two Sessions".

In today's turbulent era of technological advancement, there are still many places for us to explore in depth as a new technology called blockchain. Especially in high-tech fields where others have formulated the "rules", we should take a long-term view, continue to innovate, digest and absorb the essence of blockchain technology, and strive to form core competitiveness with independent intellectual property rights. At the same time, in the face of various temptations, we need to be cautious at all times, see risks, avoid losses, and never let the light of economic interests obscure our understanding of the essence and deep value of blockchain.

⑵ Shell Currency: The Most Successful Ancient Blockchain Economic Experiment

This account is a news & NetEase account ""Everyone has their own attitude" signed account The concept of contemporary blockchain appeared just over 10 years ago , but there have been cases of similar attempts in the long past. What’s more, this type of mechanism has been closely related to the monetary economy from the beginning. You may think that shells are primitive and outdated, but their history as currency has been prevalent in many areas until 19 century. Even today when Internet mobile payments are popular, there are still countries that use them as recognized legal tender. 1 The original distributed accounting shell is the earliest known currency. The history of shells as currency has been blurred and cannot be tested. But Before human society entered metal coins, shells were already common among people on the five continents. In an era when intercontinental movement was not convenient, shells had such a powerful payment influence, which shows that they had great value and importance in the hearts of primitive humans. Sense of presence. Since early humans did not have transportation technologies such as wheels and horses, boating became the best choice for movement and transportation. In addition, rivers, lakes and seas are rich in aquatic products, which can easily attract a large number of people to come for fishing. Among them, shellfish are Because there is no ability to escape, it is easier to become a readily available ration to satisfy hunger. Correspondingly, early works of art using shells as raw materials also became popular. Most of the initial necklaces, bracelets, earrings or pendants used shells as raw materials, and gradually became more and more popular. exchange value. The economic development of the Neolithic Age gave rise to the demand for trading media. As the number of human communities increased, the development of early agriculture and animal husbandry produced a large amount of surplus products. Therefore, exchange behaviors in different regions began to appear. . However, most agricultural and animal husbandry output has only a short shelf life, and is inconvenient for exchangers to carry in large quantities, forcing humans to seek a relatively stable and abundant trading medium. Shells that already have a stable output will take advantage of this trend.As a result, it became the first currency in human history. Beyond the inherent knowledge of many people, Shell Currency has had the characteristics of distributed accounting from the beginning. Although many people will make a comparison with today's national currencies, Shell Exchange actually does not have a clear concept of centralization. Every coastal or riverside tribe can go to the waterside to "dig" and then process it into a relatively neat form. The only industry standard is that the medium needs to be shellfish shells, not the remains of other organisms. Even though Some residents of the American interior came up with a whim and created similar forms of snail shell coins, but they could not continue to go beyond this category. Looking for shells by the river is a primitive "mining". As for the very important specific value, it is completely unknown. It depends on the negotiation results between the two parties. In other words, not only the purchasing power of shells will fluctuate with the amount of materials, but the price itself also has many variables in the circulation process. A resident living in the inland may buy shells out of speculation. After obtaining a large amount of shells, they soon found that their prices dropped due to various force majeure factors. This is mainly because shells, as currency, lack the reserve system necessary for modern financial products. The production of shellfish species may completely decline due to natural factors. Suddenly high and sometimes low. People can't come up with reliable products with stable value as an endorsement of their own Shell coins. Therefore, Shell is a typical barbaric growth stage and has many similarities with the early blockchains of later generations. Shell The value of currency fluctuates very sharply 2 Facing the challenge of precious metals Early Minoan copper coins in Crete Once human society entered the Bronze Age, the limitations of shell currency were exposed. The birth of bulk commodity trading made merchants and managers even more People were intolerant of shells without endorsements. As a result, the first precious metal currency was born. In the beginning, copper mines, as an important strategic resource, were extremely valuable means of payment. Archaeologists discovered in Crete that there were The original copper coins minted by the Minoan civilization. The raw materials come from Cyprus, which is rich in copper mines, and it appears to be of a very international level. Of course, the introduction of precious metals never means the end of the history of shells as currency. People use it across a wide range of regions When trading, gold, silver, copper and iron with high net worth are naturally the first choice to increase purchasing power and facilitate transportation. However, within specific communities, shells are still an agreed daily means of payment. Especially in non-coastal areas, the value of shells increases with coastal mining. The decrease in miners has led to a reverse increase. Therefore, it was not until the development of horse breeding technology that the circulation area of ​​shell coins was further compressed. Due to the blockchain attributes from the beginning, shell coins are fully capable of spreading within the radiation range of their origin. It maintains meaning within. Because as long as there is the approval of the user, even game coins can have complete monetary capabilities. Shang and Zhou shell currencies from the 15th to 9th centuries BC. However, with the development of transportation technology and the lengthening of international trade, Shell coins were gradually phased out in many regions. First in the Eastern Mediterranean region, where the commodity economy was the most developed, and then in Syria, Mesopotamia and Egypt, which were closely connected with it. The mining and circulation of large amounts of gold and silver made it even more difficult. Copper coinsThe value of the shell dropped rapidly, squeezing out the last remaining shells in daily life. In the 7th and 6th centuries BC, the Lydians in the western part of the Asia Minor Peninsula minted revolutionary round gold and silver coins. Within 200 years, this form was unanimously recognized and quickly spread among the two major groups, the Greeks and the Phoenicians. Through their transmission, it spread throughout the Mediterranean world, Egypt, the Black Sea basin and Mesopotamia. When the Persian army marched westward from the mountainous areas further east, they immediately took over this financial coinage system. By the 5th century BC, silver coins with stable quality had become the main object of tax collection by the empire. The Persians also used various means to accumulate large amounts of precious metal reserves in their treasury as reserves for issuing coins at any time. Although this process is still very crude and primitive, it has been used in financial operations for thousands of years. Lydian gold coins from the 7th to 6th centuries BC Athenian silver coins from the 6th to 5th centuries BC Silver coins from the Persian Empire from the 6th century BC Even in places where gold and silver did not circulate much, the decline in the value of copper coins alone was enough to popularize the metal currency. For example, in India, at least during the Mauryan Empire of Ashoka, square silver coins with local characteristics were issued. However, in border areas where the empire's control was weak, shells continued to be used as value carriers for small groups. When Mediterranean merchants from the Hellenistic era continued to arrive, the monetary system along the western coast was completely upgraded. But in the Bay of Bengal, which is densely covered with swamps and rarely touched by outsiders, shells still served as currency until the 19th century. During this period, they will become flexible and diverse means of transaction payment together with precious metals, spices or other commodities. As for extremely immoral slaves, they are also a circulating resource in this huge market. In more remote East Asia, metal currencies also appeared during the Zhou Dynasty. But at the same time, the phenomenon of shells as folk currency has always continued. The currency upgrade process similar to that in the Mediterranean and West Asia is happening again here. Because early copper coins were of high value, they were larger and did not need to be carried too much. However, as copper mines increased and a small amount of gold and silver were imported, copper coins gradually shrank and occupied the shell market. However, because the external communication channels were too narrow and a large amount of copper was prioritized for weapons manufacturing, the use of shells continued until much later. The round square hole coins designated by Qin Shihuang were a key step in upgrading the currency value. The large handfuls of copper coins connected with ropes are almost identical to the shell necklaces worn by ancient ancestors. Although the Qin State never eliminated shell currency, the impact of this choice lasted until the Qing Dynasty in the 19th century. The silver coins of the Mauryan Empire in the 4th century BC, the Seven Heroes copper coins in the Warring States Period, Qin Shihuang chose coins with round square holes, but failed to eliminate shells. At the end of the Middle Ages, the limited precious metal production was unable to support the development of the overall economy. The original driving force of the Age of Discovery was the joint treasure hunt between European royal families, nobles and merchants. They also soon discovered large areas of primitive economies using shell currency on both sides of the Atlantic. The Portuguese who landed in West Africa realized that tribes along the Gulf of Guinea used shells as a means of payment. Even Nansha, the most economically developed countryThe Kingdom of Hala will also agree to accept the shells sent by the Japanese. Although gold, weapons and salt all have circulation properties, their weight and popularity are not as widespread as shells. Therefore, in the early trading station forts, a professional employee would be assigned to clean the shells. Then they combined weapons or luxury goods shipped from Europe in exchange for local gold and slaves. *** Merchants who are using shells in West Africa. The Portuguese used shells and other methods to exchange for a lot of West African gold. The colonists of Northwest Europe in the 17th century also discovered that the Indians in North America liked to use shells as currency. Despite being isolated from the world for nearly ten thousand years, they have also formed a characteristic economy similar to distributed accounting. As for South America, which had been previously conquered by the Spanish, shell payment was first eliminated due to the large-scale mining of silver mines in Peru. But the shell economy in North America lasted until at least the 18th century. Before members of the Indian economic circle recognized European gold and silver, they strictly protected their shell currency system and contributed a large number of expensive furs. Indians in North America also continued to use shells as currency. 3 The ultimate pressure in the modern world. Shell currency in West Africa and other places persisted until the 19th century. When readers see this, they may feel that the survivability of shell currency is very strong. Throughout history, it is not difficult to find that it is of great significance to certain places to maintain independent economic zones. However, due to the lack of reserves and other reasons mentioned above, shells are always at a disadvantage in the face of precious metals. These flaws are also the flaws of blockchain currencies in the early 21st century. Still taking Africa, which has long insisted on trading shells, as an example. Between the 15th and 19th centuries, the economic strategy of the local black kingdoms was to limit contact, export irreplaceable goods, and strictly prohibit European business groups from entering the mainland market. Of course, they are actually indispensable for the weapons and other goods imported by white people, but generally they can maintain this balance. However, with the advent of the more powerful British Empire, the past methods of dealing with Japanese, Portuguese and Dutch merchants gradually lost their effectiveness. West Africa has become an integral part of the transatlantic multilateral trade. The British can ship large quantities of shells at any time if they are willing. After the British gained advantages in the Atlantic region, they continued to influence West Africa through places such as Ghana's Gold Coast. The huge shipping capacity advantage of British sea power allows them to transport several meals of shells for trade at any time if they want. This weight is undoubtedly far greater than that of the medieval camel caravans and later the fleets of early adventurers. Therefore, no matter how exquisite the polishing skills of local local workshops are, they will always be defeated at the technical level. Secondly, when European and American countries banned the slave trade, the advantages of coastal tribes’ specialty products disappeared. As a result, the originally balanced trade suddenly became unequal. As a result, the shell currency was quickly defeated in a short period of time. The remaining craftsmen can only turn ""coin-making skills" into custom tourism projects, which continue to this day. In North America, the collapse of shell coins is even more unsuspicious. As early as the colonial periods of Britain and France, there were a large number of The natives gave up their original traditions and tried to integrate into the international world. That is,Shell coins disappeared from the coast in a short period of time and degenerated into a preserved item of trade between different tribes. Over time, everyone felt that its value was too low, prompting the shell to continue to degenerate into the internal currency of conservative tribes such as the Iroquois. Finally, with the establishment of the independent United States of 13 states, the westward movement also completely replaced the original blockchain orphans. The abolition of the slave trade caused West Africa to lose its advantage. The shell processing industry finally changed from currency to handicrafts. The proportion of global currency transactions as of April 2019. Since then, the global monetary system based on the gold standard has gradually spread, and the value of precious metals has also been weakened. The shell at the bottom has no chance of turning over. However, in today's Papua New Guinea, cowrie shells are still legal tender in the eastern province of New Britain. But its symbolic significance obviously far exceeds its actual value. But you have to admit that as the first official currency, shells do have extraordinary tenacity. Looking back at this history of more than 5,000 years, people today can clearly understand the advantages and disadvantages of blockchain-like technology. The barbaric growth stage of high net worth involves a lot of risks in addition to benefits. The application of decentralized thinking is its core competitiveness that always attracts attention. But any currency cannot do without value endorsement, which is the most important reason why every country today has a central bank. Welcome to follow NetEase Account: Lengpao History Special statement: This article is uploaded and published by the author of NetEase's self-media platform ""NetEase Account"" and only represents the author's views. NetEase only provides an information release platform.

⑶ What stages has the blockchain developed?

The blockchain has developed in five stages
1. Germination stage: The real germination stage of the blockchain was from 2007 to 2009. A pseudonym In 2008, a Japanese-American named Satoshi Nakamoto first described a new fantasy report about electronic currency on a cryptography discussion group under a different name. Since then, Bitcoin has been born. As early as 2007, Satoshi Nakamoto began to explore A series of new technologies intended to create a new currency. The Bitcoin white paper was released on October 31, 2008, and the Bitcoin system officially began operation on January 3, 2009.
Main technologies supporting the Bitcoin system Including hash functions, distributed ledgers, blockchain, and asymmetric encryption; it can be seen that these technologies build the initial version of the blockchain, and it can also be said that the blockchain is the underlying technology of Bitcoin. From 2007 to 2009 In the past three years, Bitcoin has been in the experimental stage with the participation of a very small number of people, and real commercial activities have not really begun.
2. The "geek" niche stage: The "geek" here refers to those who Internet technology enthusiasts, people who regard technological innovation as their fashion and life. The first Bitcoin exchange appeared on February 6, 2010, and on May 22 of the same year, someone bought 2 burgers with 10,000 Bitcoins , the exchange Mt.Gox was established on July 17 of the same year, which marked the official flow of Bitcoin into the market. Nonetheless, those who can truly understand and enter the market to participate in Bitcoin buying and sellingPeople are just geeks who are passionate about Internet technology. They discuss Bitcoin technology on forums, mine Bitcoins on their computers, and then buy and sell Bitcoins on Mt. Gox. Today, these geeks have become billionaires.
3. Market brewing stage: At the beginning of 2013, the price of Bitcoin was US$13. However, on March 18 of the same year, the Cyprus government closed banks and the stock market due to the financial crisis, causing the price of Bitcoin to soar. In April, the highest price rose to US$266. . On August 20 of the same year, the German government confirmed the currency status of Bitcoin. On October 14, the Chinese Internet announced the opening of a Bitcoin payment channel. In November, the U.S. Senate hearing also clarified the legality of Bitcoin. On November 19, the price of Bitcoin It rose to $1,242, forming a new high. Despite this, the foundation for blockchain to enter the mainstream social economy is not yet available, and the surge in Bitcoin prices is only due to overly optimistic expectations. The containment of China's banking system, the collapse of Mt.Gox and other events caused the price of Bitcoin to continue to fall. In early 2015, the price of Bitcoin had fallen below 200 US dollars. From 2013 to early 2015, the public began to understand Bitcoin and blockchain.
4. Blockchain mainstream period: Britain left the EU on June 23, 2016, North Korea’s fifth nuclear test in September, Trump’s election in November and other events. The uncertainty of the world’s mainstream economy has led to risk aversion. Functional Bitcoin began to recover. The market demand was large and the increase in transaction volume caused the price of Bitcoin to soar from a maximum of 400 US dollars in 2016 to 20,000 US dollars in 2017. The wealth-making effect of Bitcoin and the transaction overflow caused by the congestion of the Bitcoin network It has led to the explosion of other series of virtual currencies, and various blockchain applications have also exploded. There have been many blockchain assets that are a hundred times, even a thousand times, or ten thousand times, triggering a crazy pursuit around the world, and then Chicago The launch of Bitcoin futures trading on the commodity exchange marks Bitcoin’s official entry into the mainstream investment product series, and Bitcoin and blockchain have completely entered the global spotlight.
5. Industrial implementation stage: After the market frenzy in 2017, virtual currency and blockchain made adjustments in terms of market, supervision, and cognition in 2018, returning to rationality. Many blockchain projects that imitate blockchain technology in 2017 will gradually die out as the market cools down, and projects with real practical blockchain applications will initially be implemented. 2018 is not only the first year of blockchain, but also a blockchain gold rush period. After the big waves wash away the sand, what remains is relatively good gold.
From the perspective of the history of blockchain development, blockchain technology is not yet mature and is currently in the growth stage. Specific practical applications of blockchain are only used in the financial field. To apply blockchain to other industries, there is still need for There is a journey to go, but the blockchain trend should be grasped. There are advantages and disadvantages in actively learning the new field of blockchain.

⑷ How to view cryptocurrency

Cryptocurrency is one of the directions of currency reform. With the development of blockchain technology,Cryptocurrency (digital currency) is a currency that central banks strive to promote. Although cryptocurrencies, such as Bitcoin, have appeared in the world, most countries around the world do not accept them because they cannot be regulated; the United States has not officially approved their listing and trading, and a Bitcoin trading platform has not yet been established. Although many people in the industry are calling on the US government to establish a regulated Bitcoin trading platform, and the real economy company Tesla has made a high-profile claim to have purchased Bitcoin...

There is no doubt that central banks of various countries have There is a growing interest in digital (encrypted) currencies, and they are actively researching, piloting, and testing; at the 4th China International Import Expo in Shanghai, the People's Bank of China and the Industrial and Commercial Bank of China launched digital RMB promotion work. Scenario applications, free exchange of foreign currencies into digital renminbi, etc. It can be expected that the digital RMB will be rapidly popularized and applied in Shanghai, China, and other places in the near future.

In short, we should view encrypted (digital) currencies with a positive attitude, be happy to participate in them, and actively apply them.

If we talk about cryptocurrency alone, the topic is a bit narrow. Let me talk about blockchain technology directly.
As a technology and information (blockchain technology) self-media person, of course I climbed on the table and stayed up late to watch it. In order to accumulate knowledge and learn the latest Internet technology, what if you don’t read it? Whether it is for life or work, blockchain technology is currently the hottest project, and I must understand it.

As a senior wage earner who is at the bottom of society, cryptocurrency is far away from me. Through study, I know that it is a trading virtual currency derived from blockchain technology. And it’s limited edition, and it’s very popular on foreign third-party platforms, rising from the initial price of 0.3 US dollars to nearly 20,000 US dollars in 10 years. Sometimes I wonder, why didn’t I buy dozens of them and put them there? In the final analysis, isn’t it because of poverty? Even if you had that kind of money back then, would you be so determined to buy that thing and keep it for nearly ten years? Some people say that cryptocurrencies, digital currencies, etc. are created by big guys to make money and are used to cut leeks. I cannot refute this, but as far as I am concerned, I am not even qualified to be a leek.

As a self-media person, I am an ordinary person who works in self-media. Regardless of my stance on cryptography, I have to understand it. From its origin to its implementation projects, from its basic technology to subsequent technical applications. From various ICO projects to related information, you even need to understand the stories behind these big guys who made their fortunes because of cryptocurrencies and virtual currencies. Even the dream I had last night was related to blockchain technology and various currency information.

As a bystander, I actually don’t like these things. Because I am just an ordinary person, and the word cryptocurrency is as illusory as when you told me about Li Ka-shing’s money. As an ordinary person, I know that Li Ka-shing is rich, but what does that have to do with me? as a commonCommon people, I know that various currencies derived based on blockchain technology are very valuable, and some people have become tens of billions because of them, but does that have any direct connection with me?

It doesn’t affect my life, but it affects Liek’s life.

It doesn’t affect my life, but it affects the lives of big guys.

It does not affect my life, but it affects the order of the world.

Just like those big guys said, it may really be the cause of the fifth revolution.

The birth of cryptocurrency originated from the innovation of the electronic payment industry, aiming to build a decentralized, person-to-person electronic currency system. In November 2008, a paper signed by Satoshi Nakamoto was published on the Internet, titled "Bitcoin: A Peer-to-Peer Network Electronic Cash System". The paper described in detail how to use a peer-to-peer network to create an "independent currency." "An electronic transaction system that relies on trust"; in January 2009, the Bitcoin network went online and launched the first open source Bitcoin client software. Satoshi Nakamoto used this software to "compute" the first Bitcoin "block" Mining" and obtained the first batch of 50 Bitcoins; thereafter, the cryptocurrency system achieved rapid development. On the one hand, the market value of cryptocurrency continued to grow. In December 2017, the transaction price of Bitcoin exceeded US$15,000 for the first time, and the market value Reaching US$256.1 billion; on the other hand, the application scenarios of cryptocurrency continue to expand, and digital currencies such as Ethereum, Ripple, stablecoin USDT, and Libra have also been released one after another.

Since the birth of the first Bitcoin in 2009, as blockchain technology continues to mature, the cryptocurrency industry has also experienced rapid development. According to CoinMarketCap statistics, there are currently more than 2,650 cryptocurrencies. As of September 8, 2019, the total market value of cryptocurrencies was US$267.87 billion, and the total market transaction volume was US$52.63 billion. Among them, Bitcoin accounts for 70.4% of the market value, with a market value of 188.5 billion US dollars, while the market values ​​of ETH (Ethereum) and XRP (Ripple) are 19.2 and 11.2 billion yuan respectively.

For a long time, decentralization, throughput, and security have always been incompatible, forming the "impossible triangle" paradox in the field of digital cryptocurrency. For example, the biggest problem of the Bitcoin network is its low scalability caused by its low throughput. The Bitcoin network can currently only handle up to 7 transactions per second, which greatly limits the application scenarios of Bitcoin as a transaction method. Other Bitcoin forks have improved on this basis, but the limitations are still obvious; Ethereum pursues scalability and centralization, but sacrifices security. The previous "TheDAO" incident (hackers used smart contract vulnerabilities to transfer funds) This is an example; EOS adopts the super node model and achieves a throughput of one million transactions per second at the expense of partial sacrifice of decentralization features.

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1. Cryptocurrency :

1. Based on the decentralized sharing mechanism, the blockchain technology of distributed ledger is presented in the form of electronic wallet and private key. The blockchain is automatically recorded and decentralized settlement cannot be Seizure, freezing, as opposed to a banking financial system that relies on centralized supervision;

2. As of May 2018, there are more than 1,800 cryptocurrency standards, and ledgers are maintained by participants who do not trust each other Security, integrity, and balance;

3. In 2009, Bitcoin became the first decentralized cryptocurrency, and currencies of the same type other than Bitcoin are called: altcoins, alternative coins;

2. Market value and quantity:

1. In July 2019, there were 2,600 cryptocurrencies circulating in the market;

2. As of May 2021 In September, there were 9,996 cryptocurrencies and 381 cryptocurrency exchanges;

3. Early May 2021: Total market value: approximately 2.3 trillion US dollars, as of May 21, total market value: approximately 15,800 One hundred million U.S. dollars. Bitcoin accounts for the absolute majority of market capitalization and transactions, followed by Ripple, Ethereum, etc.;

3.1. Bitcoin: Code: BTC, Creator: Satoshi Nakamoto in 2009, maximum issuance: 21 million

2. Ripple coin: code: XRP, creator: Ripple Labs in 2013, maximum circulation: 100 billion

3. Litecoin :Code: PPC, Creator: Coblee in 2011, Maximum circulation: 84 million

4. Ethereum: Code: ETH, Creator: Vitalik Buterin in 2015, Maximum circulation: Unlimited

4. The top ten famous cryptocurrency exchanges in the market:

1. Binance, Malta; 2. Huobi, Singapore; 3. OKEX, Malta; 4. Bit, Hong Kong; 5. Coinbase, United States; 6. Bitfinex, Hong Kong; 7. ZB.com, Hong Kong; 8. Bithumb, South Korea; 9. Bit-Z, United States; 10. Bitflyer, Japan; < br />
5. Difficulty and risks of government legal supervision:

Difficulty: Infringement of privacy, hindering innovation

RiskRisks: drug trafficking, money laundering, wild growth, individuals and institutions participating in bankruptcy and relative returns;

Individuals are relatively optimistic about cryptocurrency.

The earliest cryptocurrency is Bitcoin. Bitcoin was born in 2008. At that time, the world was in the midst of a major financial crisis. This crisis was triggered by the United States and swept the world. Sovereign countries were issuing excessive amounts of currency. This has led to severe currency depreciation and high inflation. People are particularly dissatisfied with this and are particularly eager for the emergence of a digital currency that maintains and appreciates value. Against this backdrop, Bitcoin emerged and has gradually been recognized and sought after by the market.

What Bitcoin actually solves is a credit crisis. Bitcoin has the characteristics of decentralization, transparency, and global payment, and solves a common credit problem. However, Bitcoin is not perfect. , the network congestion market occurred, which led to the emergence of Bitcoin Cash. Bitcoin Cash, as the twin brother of Bitcoin, gradually gained market recognition.

In addition, some giant companies in the technology and financial circles are also optimistic about cryptocurrency, believing that cryptocurrency is a trend in future development and may replace legal tender in the future. Most governments around the world also affirm this In addition to the underlying technology blockchain, they are also making efforts in blockchain.

What do you think about cryptocurrency?

Cryptocurrency is a new type of financial instrument that uses blockchain technology to achieve anti-counterfeiting and verification functions that were previously difficult to accomplish with electronic currencies.

Previous electronic currencies were controlled by centralized systems, such as QQ coins. If you can hack into Tencent's servers, or exploit Tencent's vulnerabilities, or have Tencent's insiders secretly tamper with them, you can have a large amount of QQ coins for no reason. In fact, these modified QQ coins are real because they can be used normally. But from a legal sense, these are "counterfeit coins" because they were not produced through reasonable procedures. For example, I believe everyone has heard of brushing Q coins.

These are all problems with previous electronic currencies. Now, blockchain technology can add a unique encrypted identification code to these electronic currencies, and associate it with the previous and subsequent information, so that it can be recorded link by link like a chain. In this way, the anti-counterfeiting and verification of electronic currency can be achieved. This is the nature of cryptocurrencies.

Cryptocurrency on the blockchain can be traced back to the person who originally held the cryptocurrency, who he traded it to, and how it was transferred to you step by step. These can all be queried. If there is no corresponding record on the blockchain, then the cryptocurrency is "fake." This is the nature of cryptocurrency.

In the final analysis, cryptocurrency is a tool. What role a tool can play depends on what the person who uses it does. A good fruit knife can be used by chefs to cut fruits and sculptors can use it to carve art.Taste. How you look at it depends on how it is used.

As Bitcoin surges, will cryptocurrency be the future of money? What exactly is the value of cryptocurrencies?

When Bitcoin came out, the first decentralized cryptocurrency was born. Many investors say they like cryptocurrencies because "the cryptocurrency market has huge potential for value-added and market expansion" and "the freedom that new financial technology can bring."

Indeed, Bitcoin has exceeded the value return by at least thousands or even tens of thousands of times since its birth. Of course, the recent sharp rise in Bitcoin has also attracted the attention of the market. The top 100 97 digital currencies are also rising, and Bitcoin is approaching the $7,500 mark. I believe many people are already free!

However, the skyrocketing price of Bitcoin has made the U.S. Congress unable to sit still. It held two hearings in succession to establish an influential global cryptocurrency system. Could it be that there is another "Bretton Woods" "System" to be established?

The frequent hearings cover many aspects such as security, supervision and attribute identification in the encryption field. It can be said that there is a left hook and a right hook. This kind of "combination punch" style attack is a bit Sima Zhao's heart is known to everyone on the road! I want to be a big brother in the field of crypto-finance and pursue "great future".

At the hearing of the House Financial Services Committee entitled "The Future of Money: Cryptocurrency," former CFTC Chairman Gary Gensler said at the meeting: "There is no support behind gold; what supports it is A cultural norm, we have loved gold for thousands of years. We see it as a store of value, so Bitcoin is the modern form of digital gold, a social construct."

While many crypto Currency looks like a Ponzi scheme, and such scams have also occurred in the field of digital currency. However, when more people establish a consensus on this currency, it can play an equivalent role just like gold. Then cryptocurrency will have its value!

Barr asks: “Are cryptocurrencies simply a new way to retain and transfer value that has limited impact and niche appeal, or will they have profoundly transformative effects?”

Cryptocurrency is indeed a new approach, a cryptocurrency based on decentralization. Cryptocurrency is based on blockchain technology. The development of blockchain allows society to rethink the nature of currency. Cryptocurrency may represent the "future of property."

At the same time, some people say that cryptocurrency is not a real currency and brings significant risks to investors. Regardless of the noise, we can see the United States trying to establish its influence in cryptocurrencies.

We are on the eve of a huge change, 99% of people cannot see it, 0.8% of people look down on it, 0.19% of people understand it, 0.0The 1% are taking action! We believe you are also among the 0.01%.

Irregular airdrops of candy~

Cryptocurrency, also known as digital currency and virtual currency, acts as a medium of exchange to a certain extent. It runs on blockchain technology and uses cryptography to verify transactions and ensure their security. Essentially, a cryptocurrency is a limited entry in a database that no one can change unless certain requirements are met. At present, many people's attitudes towards cryptocurrency are at two extremes. Some people believe that cryptocurrency breeds countless new opportunities and is a good channel that may help them achieve financial freedom. Others believe that cryptocurrency is just a bubble and a The method used by farmers to harvest leeks. But everything has two sides. We can neither blindly pursue cryptocurrency nor beat it to death with a stick. Here I would like to briefly introduce the history of cryptocurrency, and then talk about cryptocurrency from both pros and cons:

History of cryptocurrency: In fact, as early as the 1990s, when the technology boom broke out There are many people trying to create digital currencies. At that time, systems such as Flooz and Beenz appeared on the market. Among them, Flooz tried to create a currency unique to Internet merchants, while Beenz was an online currency. Developers allowed users to obtain Beenz by browsing the web, shopping online, etc. However, in the end, these systems failed due to a variety of factors including fraud, financial problems, friction between company owners and employees. It is worth noting that these systems all use trusted third parties to ensure their operation. That is, the companies behind these systems are responsible for verifying transactions and promoting smooth transactions. And because these companies ultimately failed, building a digital cash system was seen as a doomed enterprise for a long time. By 2009, an anonymous programmer (or possibly a group) launched Bitcoin under the name "Satoshi Nakamoto" and defined it as a "peer-to-peer electronic cash system." Bitcoin is decentralized, which means that there are no servers and no central control agency during the transaction process. Since the launch of Bitcoin, the concept of “cryptocurrency” has gradually become more widely known.

The main advantages of cryptocurrency:

1. Easy to obtain. Investors around the world can easily acquire cryptocurrencies as long as they are willing. You can find many projects that hope to raise funds through cryptocurrency, and almost anyone with online transfer conditions can participate in these projects;

2. Payment and settlement are very convenient. To pay with cryptocurrency, you don’t have to link a debit card, credit card, etc., or enter personal information, but only a wallet address of the other party. And since there is no third-party institution in the transaction process, cryptocurrency payment and settlement are much more time-consuming than traditional payment methods;

3. Low transaction fees. If you use online channels, bank gateways, etc. to transfer money, the transaction fees are relatively expensive, while the transaction fees using cryptocurrency are much lower in comparison;

4. Security. Due to decentralization, users do not need to share their identity or whereabouts with third-party institutions such as banks, nor do they need to share transaction details with transaction partners, which greatly improves transaction security. Although the anonymity of some cryptocurrencies is currently questioned, the security of transactions still has advantages over traditional methods.

The main disadvantages of cryptocurrencies:

1. Difficult to understand. To the general public, “cryptocurrency” is actually a relatively abstract thing. In order not to miss this "get rich car", many people will eventually rush into investing blindly without full understanding and sufficient knowledge reserves, causing financial losses;

2. There is no way to recover from mistakes. account. If you transfer the wrong amount using cryptocurrency, the amount paid cannot be refunded. All you can do is ask the person you transferred to for a refund, but if your request is rejected by the other party, the money will not be returned;

3. Price volatility is huge. Many people lament that "one day in the cryptocurrency industry takes one year in the cryptocurrency industry." Part of the reason is that the price of cryptocurrency fluctuates too much;

4. There is a lack of supervision and the environment in the industry is chaotic. Due to the anonymous nature of cryptocurrency, many criminals use this method to carry out illegal activities, such as fraud, money laundering, etc. However, currently no country in the world has adopted sound regulatory measures for cryptocurrency. Without legal recognition by sovereign states and lack of strong supervision, the situation of cryptocurrency is hardly stable.

Having said so much, let me summarize it a little. The emergence of a thing must be due to certain social needs. After all, if there is demand, there will be a market, and only with the market can the thing survive. We might as well exercise some patience. Cryptocurrency has advantages and disadvantages, which need to be analyzed in detail based on the specific situation, and should be viewed dialectically.

⑸ After reading this article, you will have a thorough understanding of the blockchain

In this article, all the content I introduced is based on the blockchain in today’s world. The fact that the blockchain field has already happened is not some imagination or opinions about the blockchain. I think that as long as you read this article carefully, you will easily have a basic and accurate understanding of blockchain.

The main content of understanding blockchain in just ten minutes is divided into four sections. 21 topics and 4 sections are:

The first national blockchain strategy.

Second, Bitcoin and its literal representation involve four topics.

Third,Blockchain and its technical logic involve 13 topics.

Fourth, blockchain empowers the economy and society, involving three topics.

Let’s first look at the first part of the blockchain national strategy, the first part of the blockchain country. Everyone knows that we humans have experienced six information revolutions. Seven or eight years ago, the first information revolution created primitive language, social tacit understanding, and the second information revolution saw the emergence of writing. The third information revolution in feudal society invented papermaking and printing, and the fourth information revolution in the late 19th century invented radio.

In the fifth information revolution of the 20th century, television appeared again, and now in the sixth information revolution, computers and the Internet have appeared. The emergence of computers and the Internet has given rise to the rapid development of various new technologies. Especially in 2020, the digital economy has experienced epoch-making development.

Why do you say that? The characteristics of high bandwidth, low latency and large connections in the 5G era have enabled the implementation of the four major technologies of ABCD.

What are the four major ABCD technologies

The a here refers to Artificial Intelligence, which is artificial intelligence technology.

B refers to Blockchain, blockchain technology.

C refers to cloud computing cloud computing technology

D refers to big data technology.

The word blockchain is now completely popular all over the country. On October 25, 2019, the Political Bureau of the Central Committee of the Communist Party of China announced the development of blockchain technology. The current situation has been collectively studied, so the requirement of this meeting is to use blockchain technology as the core technology.

As an important breakthrough for independent innovation, it is necessary to accelerate the innovative development of blockchain technology and industry. On April 20, 2020, the National Development and Reform Commission officially included blockchain into new infrastructure. Blockchain, why do you think it is so awesome? Let us say that blockchain is not an extension of the Internet, it is a subversion of the Internet. In the future, many, many technologies will grow on this blockchain and realize blockchainization.

So, how can we accurately learn and understand the blockchain?

We found that among the four major technologies of ABCD, only the block is naturally built-in It's financial. Therefore, we must learn and understand blockchain from the IT perspective and the financial perspective, and even learn and understand blockchain from the level of national governance. likeIf you only study and understand blockchain from an IT perspective, it is impossible to understand the huge influence and influence of this technology. Then, your understanding of this will be biased. Even more, you may disapprove of blockchain technology. In addition, in the process of learning about blockchain, you should also pay attention to the fact that it has many new terms, so you need to concentrate on understanding it step by step.

Let’s first understand blockchain from a financial perspective.

Bitcoin and its birth performance

To understand the blockchain, it involves Bitcoin, and what about the birth of Bitcoin? , and it is inseparable from the evolution of currency. We know that currency is a special commodity that is separated from commodities and serves as a fixed general equivalent. In fact, we humans have used a lot of currencies, including physical currency, weighing currency, paper money, accounting currency, etc. As for accounting currency, it includes electronic currency and digital currency. Electronic currency itself is not a currency. It is just used to represent the same amount of currency. It is a token.

Then the total amount of his tokens will not increase due to the increase of electronic currency. Alipay, WeChat, payment, and online banking are typical electronic currencies. As for digital currency, it is itself a legal currency. The total amount of this fiat currency will increase with the increase of digital currency. We know that when it comes to physical currency, we humans have actually chosen many things as general equivalents.

Weighing currencies are some heavy metals. Later, people chose gold among the heavy metals. Why choose gold? Because gold has the characteristics of rarity, divisibility, and the most stable chemical properties. What needs to be noted here is gold. It is not issued by any country. It is provided by nature. of. Your country's total amount is as much as nature provides. Therefore, the country does not need to provide credit guarantees for the value of gold.

However, as for gold, it has some flaws in its use, and it is difficult to carry when you go out again, so there are descendants. Paper money appeared in the Northern Song Dynasty. At that time, paper money was not currency in the current sense. The currency at that time was still gold, but we used paper money to represent gold. We called it the gold standard. The gold standard is the gold standard, which is a monetary system with gold as the standard currency. The core essence of the gold standard is that how much currency a country issues should be decided based on how much gold your country has. It does not mean you can issue as much currency as you want.

At that time, the Great Depression in the United States reached January 10, 1934. On this day, the new president took officeThe President of the United States made a very important decision to abandon the gold standard and issue $3 billion. Think about it, abandoning the gold standard, in theory, means that he can issue as much currency as he wants. Even if there is no gold in the treasury, he can issue banknotes as long as he wants to. Then someone will ask, if you issue so many words, can you still exchange them for gold of equal value?

Look at the banknotes at this time, they have been separated from gold, and national credit has emerged. , this, we call it currency guaranteed by national credit. Now, when mainstream countries issue currency, they also issue it with national credit as a guarantee.

What are the benefits? The advantage is that it can regulate the economy. When the economy is not doing well, a little more hair can drive economic development. The increase or decrease in this variable will cause a chain reaction of the entire economic aggregate. This is the multiplier effect in economics. Once a country masters this thing, some countries will be fascinated by it. But if it is not well controlled, it will lead to national credit bankruptcy. As a result, many people began to reflect. This reflection is, when issuing currency, is it better to use national credit as a guarantee, or is it better to stick to the gold standard based on the total amount of gold. This issue involves the birth of Bitcoin

⑹ This Bitcoin bill has opened the door to legalization in the United States!

I believe that in recent times, you have been brainwashed by Japan’s recognition of the legalization of Bitcoin. But did you know that there is another place with the best Bitcoin in the world: New Hampshire in the United States.

It is reported that every year in early July, the city of Manchester in this state holds a Bitcoin player meeting, where people can buy anything they want to buy through Bitcoin. In addition, there are many stores or companies that accept Bitcoin payments.

In this paradise for Bitcoin players, another positive event has recently occurred that may become a turning point in history.

It is reported that a Bitcoin protection bill received support at a New Hampshire Commerce Committee hearing. The bill proposes that virtual currency users in New Hampshire no longer need to register as "money transmitters." Note: This bill was passed by the state’s House of Representatives in March.

The proposer stated: This bill is to encourage the development of innovative industries in New Hampshire, and the state’s Consumer Protection Law can regulate the use of Bitcoin to a certain extent. At the same time, the proposer also revealed that the Department of Electronic Commerce has expressed support for the bill. At present, the number of supporters of the bill is much greater than the number of opponents. The opposition mainly comes from the New Hampshire Banking Commission. The reason is that banks are unwilling to bear such financial risks that are not within their own scope. They believe that the bill is helping the virtual currency industry avoid New Hampshire. State Regulation.

To put it simply, once the bill is passed, Bitcoin companies will no longer be subject to strict “know your customer” and"Anti-Money Laundering" Rules Restrictions. In other words, Bitcoin can become unimpeded here and no longer subject to any restrictions!

Of course, the reason why the Bitcoin Bill continues to iterate is also due to the popularity of Bitcoin’s underlying blockchain technology. Currently, blockchain technology has spread to all large institutions and companies around the world, which undoubtedly paves the way for its first implementation - Bitcoin.

Not all states in the United States are currently open to Bitcoin users or businesses: earlier this year, Coinbase was forced to cease its operations in Hawaii. The implementation of New Hampshire's new bill will surely promote the popularity of Bitcoin in the world's largest economic power. Its deeper significance is that it represents the opening of a hole in U.S. regulation of Bitcoin, and may have a positive guiding role in the future attitude of the United States towards Bitcoin.

⑺ The significance of blockchain technology and the principles of blockchain technology

To fully understand the principles of blockchain, we must systematically understand it from its birth and development, so as to To more clearly identify the principles of blockchain from multiple angles. Blockchain technology refers to a technical solution that collectively maintains a reliable database in a decentralized manner. This technical solution mainly associates blocks through cryptographic methods. Each data block contains all data information of the system within a certain period of time, and a digital signature is generated to verify the validity of the information and link to the next data block. Form a main chain (Chain).

A block is a record in the blockchain that contains and confirms pending transactions.

Mining refers to the formation of new blocks through calculation. It is a process in which supporters of transactions use their own computer hardware to perform mathematical calculations for the network to confirm transactions and improve security. Take Bitcoin as an example: Transaction supporters (miners) run Bitcoin software on their computers and continuously calculate complex cryptographic problems provided by the software to ensure that transactions proceed. As a reward for their services, miners receive fees included in the transactions they confirm, as well as newly created Bitcoins.

Peer-to-Peer Network refers to a system that allows a single node to interact directly with other nodes, thereby enabling the entire system to operate like an organized collective. Take Bitcoin for example: the network is built in such a way that every user broadcasts the transactions of other users. And importantly, no bank or other financial institution is required as a third party.

Hash is a classic technology in cryptography, which converts input of any length into a fixed-length output composed of letters and numbers through a hashing algorithm.

Digital Signature is a mathematical mechanism that allows people to prove ownership.

Private key (Private Key) is a confidential block of data that proves you have the right to spend electronic money from a specific wallet, which is achieved through a digital signature.

Double spending refers to users trying to illegally pay electronic money to two different payees at the same time, which is one of the biggest risks of electronic money.

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The origin of blockchain: an underlying technology that supports the operation of Bitcoin

The concept of blockchain was first proposed by Proposed by Satoshi Nakamoto in his paper "Bitcoin: A Peer-to-Peer Electronic Cash System" published in the Bitcoin Forum. In the paper, blockchain technology is the basic technology for constructing Bitcoin data structure and encrypted transmission of transaction information. This technology realizes Bitcoin mining and transactions. Satoshi Nakamoto believes: First, the model of using third-party organizations to process information has an inherent weakness of lack of trust between points. In order to be wary of their customers, merchants will ask customers for completely unnecessary information, but they still cannot Avoid certain fraudulent behaviors; secondly, the existence of intermediaries increases transaction costs and limits the practical minimum transaction size; thirdly, digital signature itself can solve the electronic currency identity problem. If third-party support is needed to prevent double consumption, the system will lose value. Based on the above three existing problems, Satoshi Nakamoto created Bitcoin based on blockchain technology.

On January 3, 2009, Satoshi Nakamoto created the first block in the Bitcoin world, the "Genesis Block" and mined the first batch of 50 Bitcoins.

On May 21, 2010, a Florida programmer used 10,000 Bitcoins to purchase a $25 pizza coupon. With this transaction, the first fair exchange rate for Bitcoin was born.

In July 2010, the first Bitcoin platform was established, new users increased dramatically, and prices soared.

In February 2011, the price of Bitcoin reached $1 for the first time, and since then exchange trading platforms with British Pound, Brazilian Real, and Polish Zloty were opened.

In 2012, Ripple was released as a digital currency that uses blockchain to transfer foreign exchange between countries.

In 2013, Bitcoin skyrocketed. The U.S. Department of the Treasury issued regulations on the personal management of virtual currencies, clarifying the definition of virtual currencies for the first time.

In 2014, the mining machine industry chain represented by China became increasingly mature. In the same year, the U.S. IT community recognized the cross-era innovative significance of blockchain in the digital field.

In 2015, the US Nasdaq Stock Exchange launched Linq, a digital ledger technology based on blockchain, to record transactions and issuance of stocks.

Blockchain principles start from eachYou can understand clearly from the application cases. The application of blockchain principles is becoming more and more popular. Recently, large global financial institutions such as Citigroup, Japan's Mitsubishi UFJ Financial Group, UBS and Deutsche Bank will also apply " "Blockchain" technology creates a fast, convenient and low-cost transaction operating system. In addition to the financial field, blockchain technology has also begun to be used in fields such as the protection of intellectual property rights, lawyer notarization, and online games that require transparent disclosure and permanent records of information.

⑻ Is Obsessed Cat launched in China?

Ethereum’s “Infatuated Cat” mobile game will be launched in China, supporting wallet function

J. Christopher Giancarlo, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), submitted a written testimony to the U.S. Senate Banking Committee today, recommending "take measures against distributed ledger technology (blockchain), virtual currency companies and related start-ups." “Do no harm” to the registration process. He said, “Virtual currencies mark a paradigm shift in how we view payments, traditional financial processes and participation in the economy. Ignoring these developments not only does not allow them to fade into obscurity, it is also not a responsible regulatory response. "Tonight at 23:00, the U.S. Senate will hold a hearing on the topic of virtual currency regulation. SEC Chairman Jay Clayton and CFTC Chairman J. Christopher Giancarlo will both attend. (Source: Babbitt)

Interesting comment: Current hearing It has ended. Future Finance has also read the public meeting report PDF file. The screenshot above is the conclusion of this hearing: Blockchain and other emerging technologies have the potential to further develop and influence and improve companies in the capital market and financial services industry. , both in the United States and abroad, history has proven this. Overall, this is good for us. Simply put, we should embrace the pursuit of science and technology.

That is to say, although There has been a lot of chaos in the blockchain market, but the United States still has an inclusive and open attitude towards blockchain technology at this hearing on the regulation of virtual currencies. In fact, our country is also accepting and open to blockchain, but in the virtual currency The supervision of the trading market has been strengthened. No matter what, it is still good news.

⑼ Do you know the three important stages in the history of blockchain development?

With the development of blockchain technology As it matures, blockchain technology has achieved significant results in the financial field. Whether investors, practitioners in related financial fields, or technology practitioners, they are very concerned about blockchain. Many people or platforms have also begun to You have devoted yourself to it, using blockchain technology to create a new financial system, and achieved impressive results.

If you have studied blockchain Chain, maybe you have a deeper understanding of blockchain. Since the birth of blockchain, it has experienced three stages of changes in terms of application. Each stage of blockchain technologyThere have been important developments and inventions throughout the period, and blockchain technology has only existed for a small portion of the Internet’s time, so there are likely still important developments to come.

The first technical stage

Bitcoin has been running since 2019. The main technology supporting the Bitcoin system includes hashing Technologies such as functions, distributed ledgers, blockchain, asymmetric encryption, and workload proof constitute the initial version of the blockchain.

At present, blockchain technology is not yet mature, the conservative tendency within many organizations is still obvious, and the use of centralized technology and processes in the market to make profits Intermediaries that collect revenue, equipment providers are also hyping up the concerns it may bring.

Second market phase

In early 2013, the price of Bitcoin began rise. In November of the same year, a U.S. Senate hearing clarified the legality of Bitcoin, and the price of Bitcoin rose sharply. But at this time, the blockchain has not yet reached the mainstream social and economic foundation, but its price has risen beyond expectations. At this time, the market opened up the visibility of Bitcoin and blockchain, but despite this, they still did not gain universal acceptance to a certain extent.

The third mainstream stage

Bitcoin, which is an alternative to the mainstream economy, began to recover. Market demand increased and transaction scale expanded rapidly. It also opened up the bull market of 2016-2017. . The enrichment effect of Bitcoin and the spillover effect caused by the congestion of the Bitcoin network have led to the explosive and crazy growth of other virtual currencies and various blockchain applications. At this time, it triggered a crazy global pursuit to make Bitcoin and blockchain a complete global vision.

In 2020, although the epidemic has dealt an important blow to our economy, the hot development of Bitcoin and blockchain tells us that they It is creating opportunities and driving related development. Just like the recent price of Bitcoin is close to 30,000 US dollars, such a market has brought surprises to many people, and it has also promoted the development of exchanges. After all, exchanges are the only way to buy Bitcoins. Its popularity is also It has brought good profits to exchanges, such as Huobi and Saturn Exchange, which have refreshed their historical trading volumes many times due to this bull market. In fact, no matter which industry develops, it will always drive multiple industries. After all, many things are always closely related.