The article read coins, coins and ether block chain

The article read coins, coins and ether block chain

In 8 years, creating a myth – bitcoin prices rose nearly 3 million times, domestic prices topped 20 thousand yuan. In this myth, different people see different story. Speculators saw the opportunity to make money, technology geeks saw a change in the future, traditional financial institutions may see a growing ghost……

    

Today, the galaxy research institute about easy content, introduce the electronic payment technology industry chain blocks two of the hottest brothers bitcoin, and the bottom of the etheric fang. They really can reshape the world economy? After reading this article, I hope you can get your answer.

Bitcoin was born, the beginning of the revolution?

Mention of the electronic payment industry, we first think of either Alipay or WeChat. In fact, behind the two giants, and two researchers has been plagued by problems, but also the real display of electronic payment industry “ambition” problem:

One is how to through the authority of the third party, can be carried out online transfers between the two needs;

The two is how to record the payment information in the electronic transfer payment at the same time, to avoid duplication and ensure the safety of funds.

To solve the two problems, means that there will be a set of independent electronic currency system, the banking system is now basically with Never mind half dime.

In 2008, a person or a group under a pseudonym, SatoshiNakamoto released the title as “a man of personal electronic cash payment system” of the white paper, in order to solve the two problems of Nakamoto two solutions were put forward:

First of all, in person to person transfers, there is a need to not depend on the third party pricing mechanism to be able to judge the value of electronic money;

Then, we need to have a go to the center of the digital books (as soon as the center, that means there is still equivalent to the traditional bank “authoritative third party”, obviously does not meet these geeks in the ideal world) to record and store the transaction, the transaction information is distributed to all over the world of course, the mode of operation of the computer, books and other traditional accounting methods are roughly the same.

In 2009, the technical scheme of electronic transfer of wealth officially landed, the product form is now popular bitcoin, the algorithm relies on the underlying technology, which is now called the blockchain technology, has been proved to have the practical value and significance of the broader.

Although the blockchain technology did not enter into the mainstream of current government thinking and discourse system, but as mentioned previously, it has made the world’s economic development innovation.

(1) beyond the Amazon bitcoin

Bitcoin is essentially a center, on a personal electronic money system. This kind of electronic money without collateral assets, and it allows the central bank and the bank can not after clearing and custodian issuance, circulation, trading and asset data stored in the world every corner of the Internet connection.

The human heart geeks may be such a change transaction:

– exchange

– yuan, dollars, pounds, rubles, rupees…… – exchange

– electronic currency – exchange

The first standard value of bitcoin in October 5, 2009, $0.0008, $1 is equal to 1309.03 in accordance with the calculation of bitcoin. At present, every bitcoin transaction price of more than $2300. The intrinsic value of each bitcoin has increased 2 million 900 thousand times.

According to the Washington Post, if you buy a $100 worth of bitcoin 7 years ago, so these bitcoin in today’s value will be more than $73 million, can be used as a contrast to the Amazon IPO in 1997 if you spent $100 to buy the stock, now you will invest about $64 thousand.

However, the intrinsic value of bitcoin itself can not measure, so as the bitcoin speculative property of electronic money is much stronger than the Amazon and other company’s stock, which means that short-term price volatility is very intense, and the long-term price trend is not available for judgment.

With bitcoin continue to occupy the headlines around the world, many onlookers will appear a doubt that bitcoin is how to produce?

(2) bitcoin mining is out?

One of the characteristics of bitcoin is not the existence of the issuer bank, how do they produce? In fact, can be said to be excavated gradually from bitcoin miners.

Analogy the easiest way is to imagine the gold miners mining, gold mining gold miners from the earth, with the gold was dug into the market and processing, gold has become a part of the economy and currency wealth, and so is the principle of bitcoin.

The new dig bitcoin is obtained through a complex competitive mining process computing program through the hardware operation of miners highly specialized, so as to obtain coins as a reward.

(3) how to use bitcoin?

When the bitcoin was dug up, they will be how to use, and is used in what situations?

Bitcoin transactions like stocks, bonds and money as needed in exchange, which also can be used as a currency exchange services or goods.

Japan is the world’s first official to accept bitcoin as a legitimate currency country, with Japan bitcoin as currency, is expected to accept bitcoin as the quantity of the goods and services bought currency suppliers and merchants, will be from 1000 up to 10 million.

    

This cow technology and possible “subversion” world of products, won great attention since the emergence of the soaring price. Currently bitcoin investors, including some enthusiasts, business people and even the number of financial institutions have a very large population.

The key is that it is accompanied by the development of the two functions originally envisaged has been gradually realized and improved, which can be used as electronic currency equivalent of this idea has been confirmed. See the electronic money originator so fire and did not die on the beach, so there are thousands of digital currency were designed, and generally keep rising values. Among them, the most famous later and have a high market value is the etheric fang.

The total value of bitcoin is currently on the market in about $37 billion over the same period, the total market value of the etheric Fang $16 billion. Although bitcoin is the first appearance of electronic money in the market, and thus won the most media attention, but many people believe that the etheric square block chain and this technology will become more powerful currency based on Ethernet tools.

Competitors: Ethernet square

In the electronic payment industry, and the emergence of a “white paper” the impact of the world.

In 2013, 19 year old VitalikButerin in the theme of “White Fang Ethernet: connections to the center of the application platform for the next generation of smart book first mentioned the conception of the etheric coins. Then in 2014, algorithms and protocols etheric coins officially landed, and raised $150 million in July 30, 2015, the final completion of the system itself.

There is a great need for our understanding of the problem, but also a platform for maximum competitive potential and the debate focus: Ethernet square is more than just an electronic currency, but also a platform based on intelligent system and contract block chain technology, it can be used to build applications, and electronic money just this kind of technology one of the forms.

Similar financial instruments, property, domain name, as well as more complex financial products trading, derivatives, gambling, and identity and personal credit system related to information and circulation of wealth and record the link, the etheric Fang theory have great development space.

The contract for intelligence:

Intelligent contract is an important contribution to the technology field of electronic currency and block chain to the rapid expansion of the etheric fang. It can be seen as a means to ensure the safety of the use of digital value exchange and other aspects of the way to transparent, disintermediation means expensive service saved such as lawyers, notaries and other professionals, and through the implementation of digital intelligent contract terms to ensure the validity of the contract itself.

(1) Ethernet VS currency bitcoin

Now, we look at the etheric Fang another unique characteristic of Ethernet digital currency currency.

The etheric Fang and bitcoin is a digital currency, but the difference is that there are two kinds of digital Ethernet Fang currency transactions in the market. One with ETH as a trade mark, another is called the classic coin to mark the etheric, traded ETC.

Ethernet square foundation will define the role of etheric coins is a fuel, or a means of payment, to allow customers to pay the cost of the operation request execution server in Ethernet platform in workshop.

In 2016, a huge scandal shocked the etheric square community, a hitherto unidentified hackers exploit software vulnerabilities to steal more than $50 million worth of Ethernet coins, it is the result of second kinds of transaction currency Ethernet was born.

(2) the etheric money come from? What does it do?

Similar to bitcoin, bitcoin is obtained through the etheric mining, miners team to verify and store the etheric coins, after trading in the etheric Fang platform. Although bitcoin and other digital currency can be used to purchase goods or services, but as mentioned before, the etheric coin is mainly used to pay user generated in the etheric Fang in the network cost.

The value of bitcoin foundation and etheric square block chain

Finally, let us say a bitcoin value — block foundation and Ethernet square chain technology. The frame of Nakamoto’s original idea is to let individuals quickly complete the online transaction, without the need for traditional middlemen or third party, this framework is currently known as the blockchain.

Block chain is a kind of nondestructive classification digital books, which can be set to not only records of financial transactions, can also record almost all valuable information without fear of tampering.

In the simplest model, block chain is a simple distributed books, however, meaning the inner block chain is far greater than the name of the surface meaning. Block chain can make the value in the transaction process itself has shifted, as the financial times technology writer SallyRivers said, bitcoin, block chain for the meaning of it, just as the Internet to mail the same meaning.

With the mail to promote information communication, help the block chain transfer of wealth.

Block chain technology is rapid exploration and deployment of the field including capital markets, financial services, payment and remittance, derivatives trading, credit management, government management, sharing economy, supply chain, audit, stock trading, networking, and so on many aspects of health care insurance.

Although bitcoin and Ethernet Fang and other digital currency has gained supernormal development speed, but its volume and value than the traditional monetary system is still not worth mentioning, the future of digital currency to assets or sovereign credit backed by the traditional monetary system impact how much still There’s no telling.

But the development value of block chain technology has no need to say. It is foreseeable that the combination of block chain technology will hide in gorgeous figure in digital currency with the traditional financial industry is very good, and the transfer of a financial asset trading currency trading, in the future, including personal credit records will depend on safety protection from block chain technology, perhaps will be accompanied by a traditional ghost chain block the financial system toward the unknown digital currency financial system over the “”.

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