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      "body": "Congratulations @prisonergodo! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@prisonergodo/birthday1.png</td><td>Happy Birthday! - You are on the Steem blockchain for 1 year!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@prisonergodo) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=prisonergodo)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Ripple was successful as the world's second-largest digital currency XRP issuer.\n\nRipple's success is that it is a \"+blockchain\" project, not a \"blockchain+\" project.\n\nRipple did not, like other companies, issue digital currency first, and then consider its value. Instead, it found the necessary location for the existence of digital currency in the established payment network.\n\nThe financial technology company, founded in 2004, discovered in the process of eliminating the bank settlement system (SWIFT) that they needed a medium to act as a bridge between national currencies to eliminate the NOSTRO account, a hurdle that hindered the flow of cross-border funds. . So, XRP was born.\n\nThree months later, Ripple received investment from companies such as Google and IDG, and then in-depth cooperation with companies such as Bill Gates and Masayoshi Son.\n\nOn the other hand, XRP is also highly controversial.\n\nOrganizations such as BitMEX pointed out that XRP has not been decentralized. Ripple founders hold 20% and can issue or destroy them at will, which violates the basic principles of blockchain.\n\nEven one of the founders, McCaleb, left Ripple and joined the competing team Stellar because of different opinions.\n\n\n**India saves $6.6 billion annually**\n\nAccording to the data, India’s annual remittance is 70 billion U.S. dollars, of which 6.6 billion is used to pay the handling fee. India’s annual education spending is only $1.22 billion.\n\nCurrently, cross-border transfers rely on the SWIFT system.\n\nWhen a bank user of country A transfers money to a bank user of country B, it needs to send information to the other party through SWIFT, and then the transfer application will be processed.\n\nIn the process, the user has to pay an additional fee, and it takes 2-3 days to transfer the money. Banks are required to pay royalties for SWIFT.\n\nIn this regard, Ripple offers three solutions: xCurrent, xVia, and xRapid. The bank only needs to install the Ripple Gateway to complete the transfer within 4 seconds with almost no processing fees.\n\nWith the Ripple program, developing countries can save nearly $100 billion annually.\n\nIt is worth noting that there are currently more than 100 Ripple partners choosing the xCurrent solution, and only three have chosen xRapid. Of the three options, only xRapid requires XRP as the transit currency.\n\nStill, the Ripple team has always believed that the xRapid solution is the future because it helps banks eliminate NOSTRO accounts. In other words, when the Bank of State A pays to the B-country enterprise, there is no need to open a foreign currency account in Country B, and there is no need to pre-store funds in the foreign currency account.\n\nCurrently, Cuallix plans to use XRP to send money between the US and Mexico, and the network has been tested.\n\n**Ripple's past**\n\nIn 2004, Ryan Fugger founded RipplePay, the original idea was to establish a peer-to-peer payment network.\n\nAfter seven years of silence, this project, which was originally supported by the community, suddenly became different. Everything starts with the joining of two people.\n\nIn 2011, Jed McCaleb sold the exchange Mt.Gox and joined Ripple with Chris Larsen.\n\nJed McCaleb and Chris Larsen changed their strategy, changing to-customer to-business, banking as a customer, targeting the SWIFT system, and hitting the pain points of cross-border transfers.\n\nMore importantly, they applied the blockchain concept to Ripple, adding a gateway system based on the original network, and making the bank equipped with the gateway a node.\n\nIn 2012, Jed McCaleb and Chris Larsen took control of the Ripple community from Ryan Fugger and released the digital currency XRP.\n\nThey believe that there is a need to have a trusted, streamable, encrypted digital currency as a bridge between legal coins to address liquidity problems.\n\nThis idea was quickly recognized by the capital, including Google, IDG, Softbank SBI, Standard Chartered Bank and other investment institutions. Up to now, Ripple has completed 4 rounds of financing, totaling 96.2 million US dollars.\n\nAt the same time, Ripple has a strong lineup of board members: including Stanford Economics Professor Susan Athey; former Morgan Stanley Co-President Zoe Cruz; Ben Lawsky, who was involved in the development of the New York State Digital Passport regulatory license; and, during Obama's inauguration Gene Sperling, a national economic adviser.\n\nHowever, Ripple, who owns the \"Dream Team\", did not arouse the demand for XRP in the market. Instead, it caused a lot of trouble due to the centralized distribution mechanism.\n\nRipple was sued three times in two months for allegedly Ripple's manipulation of the currency, and the founding team profited by selling the existing XRP. Jed McCaleb left on this ground and joined Stellar.\n\nTo this end, Ripple decided to deposit 55 billion XRP into the escrow account. Subsequently, the price of XRP rose rapidly by nearly 10 times.\n\nFrom the current results, Ripple is successful, and this success is phenomenal.\n\nWith peer projects, Ripple is not blindly sending money, extravagantly subverting, but starting from the pain point, using blockchain technology as a solution, thereby introducing digital currency.\n\nMost importantly, Ripple chose to work with traditional banks without direct forced subversion.\n\nThe value of the application token is a function of the value of the application. Here, we will look at what happens when banks use XRP.",
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      "body": "My buddy \"bark\" is a person who loves literature and has ideals.\n\nHe felt that \"one person used only one white paper to create an industry.\" This was a cool thing, so he decided to devote himself to the blockchain and gain a deeper understanding.\n\nWhen you first entered the company, everything is fresh. He found that his colleagues had worked in Silicon Valley, and the one with the worst educational background graduated from Tsinghua University.\n\nIn addition, compared to the classical Internet, the company does not have a high KPI and a strict relationship between the superior and the subordinate.\n\nEverything here makes him feel like he is being in Google. The public chain they developed is the next tool to change the world.\n\nHowever, freshness only lasted his \"honeymoon period\" for more than a month.\n\nDespite the fact that everyone is working hard to change the world's dreams, the company is known for its technology, but those DApps that are developed on the public chain have no value.\n\nThese developers are just \"swindlers\" who swindle to replace the currency rewards. The submitted DApp experience is extremely poor and there are no users at all.\n\nEven so, his project side is still one of the most representative public chains in the global blockchain. The number of DApps is ranked in the top ten, and the valuation is even in the top 50.\n\nRecently, companies that are only tech-savvy and have no profitability have to sell privately-purchased ETHs. However, I did not expect that other people would do the same in the face of survival pressure.\n\nThe bear market is coming.\n\nThe company's currency price has shrunk to one-tenth. The bark that recognizes the truth leaves the industry in vain.\n\n**A good DApp is not waiting, it is invested**\n\nIf you want to be a good public chain, you must first invest well. Doing a good job is the foundation for building a public chain ecosystem.\n\nThe public chain is like a mobile operating system, allowing developers to develop blockchain applications on it.\n\nThe token issued by the public chain itself has no value, which is different from the tokenization project of the actual asset such as USDT.\n\nAs a technology platform, the value of public chain certification depends on two factors: First, whether the user wants to hold the certificate to obtain an interest; secondly, whether the token reward and punishment model can maximize the attraction of the partner.\n\nFor example, if apps such as Airbnb, TripAdvisor, and Uber are developed on a public chain, the user must use the public token to settle the order when placing the order.\n\nWhen an application based on public chain development becomes a necessity, the user has the willingness to buy a token to acquire the equity, and the token has value.\n\nAt the same time, if the participants can get the rewards they deserve according to their established rules, then the ecology of the public chain will be better maintained.\n\nIn reality, many public-chain companies like bark companies believe that as long as the technology is developed, the next development will be a matter of course.\n\nBut the reality is that a good application is not waiting for it, it is invested.\n\nThe developers who come to the door are often not liars, or the \"ico\" party. When the bear market arrives, it is only a bubble that is held in the hand.\n\n**Don’t send the army to the sea**\n\nHistorically, applications have often emerged to drive infrastructure improvements.\n\nBefore the urban power grid was perfected, the lights already existed. The same is true for roads and cars.\n\nIn fact, in the blockchain world, this logic also applies. There is a bitcoin first, followed by a blockchain.\n\nThe birth of Bitcoin made people realize that this is an opportunity to redistribute wealth. So people followed the money and flocked, trying to copy the mobile Internet's set of things into the blockchain world.\n\nThe problem is that the blockchain does not create a traffic entry. We still need to find the DApp to use on mobile phones and computers.\n\nLet DApp compete for traffic with existing apps in the mobile Internet world, which is equivalent to sending the army to the sea and fighting the enemy.\n\nMoreover, the DApp decentralization attribute also sacrifices efficiency and reduces the user's sensory experience.\n\nTherefore, the blockchain company in the copy mode may be able to grab a piece of meat, but can not participate in the distribution of the industry cake.\n\nIf you want to change the way existing benefits are distributed, companies that do public chain can try to invest in a company that is making changes in existing industry pain points, and this “change” can be used to better assist participants through the token reward mechanism. To improve efficiency.\n\nIn fact, public-chain projects such as Ethereum and Cardano have used the funds raised to set up foundations to promote the organic integration of public chains and traditional industries.\n\nBut the former company of the bark did not do this. Perhaps they are still immersed in the dream of transcending Ethereum, or maybe they just want to take away the investors' money.",
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      "body": "The USDT price has fallen.\n\nThe USDT issuer Tether promises that each USDT pass will correspond to a $1 reserve.\n\nIn theory, users can exchange one USDT for Tether for $1.\n\nThis \"Gold standard\" system guarantees a price equal to $1 per USDT.\n\nBut recently, USDT's price volatility has triggered a panic selling, causing its price to dive.\n\nThe continuous negative news makes this the most successful asset-to-token project no longer trusted by investors.\n\nThe crisis of USD has exposed the fatal shortcomings of the current blockchain industry asset certification – it is impossible to tell whether the assets on the chain are real.\n\n\n**The foundation of asset-to-token: digital identity**\n\nThere is a view that the token is greater than the blockchain.\n\nThe founder of CSDN, Meng Yan, defines token as a circulated encrypted digital rights certificate, which makes assets become digital certificates and can be transferred more efficiently. The blockchain is the infrastructure to achieve this goal.\n\nOnce, USDT was the most successful case of asset-to-token. To some extent, what USDT does is more meaningful than projects such as Ethereum.\n\nThe 1USDT price is always anchored at $1. A user purchasing 1USDT is equivalent to purchasing a $1 equity.\n\nIt means that users can freely choose and use the sovereign currency of other countries, so that sovereign currency can compete freely, and the weak purchasing power will be eliminated naturally.\n\nThe USDT is a window through which we can see the future of asset-to-token.\n\nBut it seems that some power has closed this window. The asset-to-token project was once again in the dark, and development was in trouble.\n\nFirst, the project party cannot tell if the assets on the chain are true. In fact, because the information is opaque, we can't tell if Tether really has a reserve for the issued USDT.\n\nIn addition, how is the winding asset priced? How is Token destroyed if the asset is damaged? How to manage assets, how to redeem them, etc., these problems hinder the development of asset-to-token.\n\nThe reason is that there is no way to fully digitize physical assets, so that everything has its own digital asset certificate.\n\nFor example, we can't use a string of numbers to represent a bottle of cola, and we can't even sense whether the bottle of cola is leaking or drinking.\n\nThe Internet of Things and artificial intelligence will be the basis for the digitization of physical assets, but it is not currently possible.\n\nIf all things have their own digital identity on a certain day, just as each of us corresponds to a string of ID numbers, each merchant account corresponds to the QR code, and the asset-to-token era will come true.\n\n\n**STO may become the start of asset-to-token**\n\nAlthough the digitization of physical assets requires IoT technology, this does not mean that assets cannot be chained at present.\n\nNot long ago, the New York Financial Services Authority (NYDFS) approved the release of stable currency GUSD and PAX.\n\nLike the USDT, there is a corresponding US dollar reserve behind the GUSD and PAX, making one token equivalent to one dollar.\n\nThe difference is that GUSD and PAX use the existing financial asset supervision system to conduct regulatory review of reserve assets, which is a token issued under legal compliance regulations.\n\nThis type of token is called STO (Security Token).\n\nAfter a few years, perhaps STO will become one of the greatest financial inventions of mankind.\n\nFrom the current point of view, STO will encourage blockchain startups to raise funds in dollars, issuing tokens in the form of acquisitions or creation of dollar assets.\n\nIn addition, users around the world are free to exchange US dollar assets for their own assets.\n\nIn the long run, a securities token is the beginning of a currency re-anchoring value.\n\nIn fact, there is currently no clear value anchoring for legal tender issuance.\n\nDuring the financial crisis, the Fed “marked money” and saved Fannie Mae and Freddie Mac, causing the US dollar to be over-issued. But US trading partners with good savings habits have suffered the cost of a dollar depreciation.\n\nThe securitization of assets and the issuance of tokens that can be transferred can make the purchasing power of money reflect the demand for real assets. People's preference for assets will affect the price of the currency, which is what Hayek described as \"Denationalization of Money.\"\n\nIn contrast, the Fed and other institutions will also change from \"athletes\" to \"referees.\"\n\nRecently, it is reported that the Nasdaq exchange is planning to launch a unified securities platform to tokenize securities.\n\nAt present, we are still unable to give physical assets digital identity and put it on the chain, but we can make brave attempts in the field of digital finance.\n\nAs Meng Yan said in his dialogue on the Yuandao, \"After fifty or one hundred years, look back today. The Internet of Things may be just a small episode before the arrival of a new civilization, a period of construction of a new world's social infrastructure, but The important thing is the blockchain.\"",
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      "body": "In the past week, the price of ETH has plummeted in a row, and the market value has shrunk by nearly 10 billion US dollars.\n\nIt is said that the big drop was caused by the ETH sold by the project side.\n\n“Issuing tokens” is the most important application of Ethereum. Based on the Ethereum main chain, the project side generates its own tokens and raises funds in the form of ETH.\n\nAfter a period of time, these unprofitable project parties can only rely on the sale of ETH to get cash and keep the company running. This is the embarrassing situation that Ethereum is currently facing.\n\nIn fact, Vitalik Buterin (founder of Ethereum) knew this problem long ago. A few years ago, he began to develop Casper algorithm based on POS consensus, to improve TPS (transaction throughput) to make more applications and Assets landed in the main chain of Ethereum.\n\nHowever, when people talked about the future of Casper, I felt a bit of a worries from the conversation between Vitalik Buterin and Charles Hoskinson.\n\nAlthough the PBFT (Practical Byzantine Fault Tolerance) algorithm can circumvent the risk of malicious offline of nodes, the characteristics of the application make it necessary to face the risks of the \"Byzantine general problem.\"\n\nThis may become the biggest bottleneck that hinders asset chaining and restricts the development of blockchain.\n\n\n**Vitalik's argument with Charles touches the soul of POS consensus**\n\nThese days, Vitalik and Charles Hoskinson (founder of ADA) conducted a heated discussion on Reddit about the stronger issues of Ouroboros (the POS consensus used by ADA) and Casper.\n\nOne of the details caught my attention. When Vitalik questioned the ADA's \"end\" ability, Charles said it was a probabilistic problem and could add a light BFT (Byzantine Fault Tolerance Algorithm) protocol to close the interval if necessary.\n\nThen, Charles replied that there were only 1/3 Byzantine resistance in Karpas, but Uroporos had 1/2.\n\nIn fact, the debate between the two experts touched the POS consensus \"deep in the soul.\"\n\nSince the POS selects the validator based on the number of tokens in the client, when the selected validator is offline, the system will stagnate. Malicious nodes often use this method to attack the system, so Vitalik will question its \"end\" capability.\n\nUsually, POS will join PBFT (Practical Byzantine Fault Tolerance Algorithm) to select the validator in a round-robin fashion. When the validator is offline, it automatically exchanges the next node for accounting to ensure the normal operation of the system. The ADA does not use the PBFT algorithm.\n\nBut Charles's counterattack is sharper, and his words directly target the most fundamental problem solved by the blockchain - the Byzantine general.\n\n**Byzantine General The sword of Damocles hanging over the POS**\n\nThe Byzantine General question describes how collaborators without a foundation of trust can rely on technical means to prevent cheating, because the author of the proposal, Lambert, used the model of the Byzantine generals to attack the city to deduct the problem, hence the name.\n\nAfter the study, the scholars found that the problem was solved only when the number of participants was less than 1/3. That is to say, when more than one-third of the disadvantages are used, the conclusions drawn by the participants are not credible within a certain probability regardless of the way they are calculated.\n\nAt one time, people once thought that Bitcoin solved the problem of General Byzantine by means of digital signatures and time stamps. But in 2015, Yahoo Labs scholar Juan Gray found that the Bitcoin POW Consensus was a probabilistic agreement that did not completely solve the Byzantine general problem.\n\nWhen the number of defects is close to 50%, the POW algorithm does not guarantee the reliability of the results.\n\nThe POS-based Casper technology can only resist 30% of malicious nodes in some states. In contrast, Ouroboros can resist 50%.\n\nAlthough Charles is very proud of this, I am concerned about the future of POS and even the entire blockchain.\n\n**Off-market profit and solutions**\n\nDespite the hidden dangers of Byzantine, there have been no major accidents in Bitcoin for more than eight years. The fundamental reason is that the market value of Bitcoin is too large, and it takes a lot of cost to attack the network. Once the network is attacked, the price of the currency is likely to go directly to zero, which is not worth the loss.\n\nThe ETH, ADA and other tokens that focus on the actual application are different. Although the network is attacked, the token price may be zero, as long as the attacker gains more benefits than the attack cost.\n\nFor example, an e-commerce listed company A is based on the Ethereum main chain development project, and the transaction confirmation is confirmed by the Ethereum network.\n\nAt the time of the company's most critical year-end promotion, a fund B invested heavily, mastered more than 1/3 of the nodes, and maliciously attacked the Ethereum network, forcing the transaction to roll back and invalidating all transactions in the past few days.\n\nThe incident reduced the revenue of Company A by nearly 100% compared with the same period of last year. When the financial report was released, Company B made a profit in the stock market.\n\nThis has led to the inability of listed companies to truly land their assets on the Ethereum main chain, as well as the technology giants participating in the Ethereum Enterprise Alliance, and more willing to develop private and alliance chains.\n\nThe recent ETH plunge also reflected the lack of value assets of the mortgage in the Ethereum main chain.\n\nSome analysts said that the Ethereum's plunge came from the project side selling tokens to obtain cash, while the mortgaged assets in Ethereum were the funds raised by various blockchain companies, and these assets did not use the actual application to generate value.\n\nIn fact, using the weaknesses of the Ethereum main chain to profit from other transactions, this approach has already appeared in some applications. According to the media \"block rhythm\" report, some people crazyly created 80,000 transactions at a certain moment, forcing the Ethereum network to block, trying to swallow the Ethereum gaming application Fomo3D worth 2.4 million US dollars.\n\nThere are two ways to solve the problem: First, let more funds buy ETH, so that the cost of controlling 1/3 node is so high that the evil party can't bear it. The second is to use DPOS consensus (authorized equity certificate) to expose participants to community supervision.\n\nHowever, the number of DPOS consensus accounting nodes is limited. For example, there are only 21 EOS. Once major assets fall into the chain, such as international exchange rate liquidation or the results of the US presidential election, then some real-world hidden interests in real life will affect the decentralization. Hope. Judging from the fact that V God had previously interacted with BM, he obviously would not take this approach.\n\nSo there is only one solution left.\n\nBut in a bear market, how can we get more money into ETH and increase the cost of doing evil? Only the day when the Ethereum Casper algorithm is launched is the time when the bull market returns.",
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      "title": "The market value of 7 days has decreased by nearly 10 billion. This problem has become the biggest obstacle to the development of Ethereum."
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      "body": "People who have a preliminary understanding of the blockchain often do not buy the famous bitcoin, but choose the ADA.\n \nAfter all, a bitcoin is at least $6,000, compared to a few cents for an ADA.\n \nIn their view, the ADA's appreciation potential is huge, as long as it rises to 4 dollars, the investment will be 100 times. If the ADA rises to a price with Bitcoin one day, he will be listed on the Forbes Rich List.\n \nBut the rich is obviously not so simple, it only shows that he knows nothing about the concept of \"market value.\"\n \nIn fact, the current ADA circulation market value of 3 billion US dollars, equivalent to the market value of companies such as Uber, Mobike. The problem is that the market value of Uber and Mobike is supported by physical assets such as users, trading volume, and car bicycles.\n \nWhat is the support for the ADA market value? From the current point of view, there is nothing.\n \nYes, in the short term, there are no assets that support the ADA market capital, except for the amount of locks officially promised and the volume of transactions contributed by those who buy and sell ADA.\n \nIn the long run, the vision of the ADA public chain supports a market value of $3 billion, or more precisely, the assets that are mortgaged on the ADA public chain.\n \n**What is the ADA public chain?**\n \nThe public chain behind the ADA is called Cardano, founded by former Ethereum co-founder Charles. The biggest selling point of the ADA is \"academic\".\n \n ![公链是什么.jpg](https://cdn.steemitimages.com/DQmWT4AHLu36UXiPRn3SMtwooPo99MrRuymSNYvP8xTQV4H/%E5%85%AC%E9%93%BE%E6%98%AF%E4%BB%80%E4%B9%88.jpg)\n \n Cardano technology updates are based on academic papers. The paper itself is subject to peer review and is posted on the International Cryptography Association website. \n \n The Cardano Consensus Mechanism Ouroboros claims to be the only academically certified mechanism based on the POS Consensus in the form of “The Conflict Resolution Terminal”.\n \nThe miner needs to generate a random number locally, then calculate the hash value, and then broadcast the hash value and the random number to the whole network.\n\nAfter other miners receive hashes and random numbers, they do a comparison locally to see if someone cheated or missed a value.\n \nAfter that, the whole network random number will be XORed and the accounting node will be selected. The more people who hold the ADA, the more likely they are to be elected.\n \nThe problem is that \"academic\" is just giving you a reason to believe, and the vision of becoming an international clearing currency is where ADA values lie.\n \n**What is the value of money?**\n \nMoney comes from debt.\n \nIn the period of barter exchange, the store issues currency in order to make it easier for customers to exchange goods, and the total amount of money and the value of goods are one-to-one correspondence.\n \nDuring the floating exchange rate period, the currency was issued based on national debt. When people hold money, they have the right to exchange products or services.\n \nThe source of monetary value is attached to the assets above the currency. It can be seen from the development of the US dollar and the Russian Ruble.\n \nAfter the Second World War, the \"baby boom\" in the United States gave rise to consumer demand. Boeing, IBM and other companies developed rapidly, and the assets attached to the US dollar increased significantly.\n \nIn contrast, the Soviet technical strength does not lag behind the United States, but the quality assets attached to the ruble are rare. For example, can you name the names of several Soviet companies?\n \nTherefore, after the collapse of the Bretton Senate system, the US dollar became the world currency.\n \nThe development of the US dollar and the Russian Ruble has some implications for today's blockchain industry.\n \nThe essence of digital currency is money. The quality of the issuing company itself cannot fundamentally improve the value of money.\n \nThe value of money depends on whether the assets attached to it are of good quality.\n \nIt is like real estate developers who have exhausted all kinds of high-tech and built the best office buildings in the world. Investors also recognize the technology used by developers, so they are rushing to buy value.\n \nWhen the building officially opened, it was found that although the design sense, experience and technology of the building are the best in the world, there is no company to settle in, or there are sporadic small startups coming in, but it is not enough to make the price of real estate soar.\n  ![卡尔达诺生态 英文.png](https://cdn.steemitimages.com/DQmWmYCSaZK7FqdSh2YNCoDkMhEKCwq4xN2sg6Ewa3QZ1zL/%E5%8D%A1%E5%B0%94%E8%BE%BE%E8%AF%BA%E7%94%9F%E6%80%81%20%E8%8B%B1%E6%96%87.png)\n\n **Emurgo layout is slow, dragging ADA**\n \nLooking at the ADA again, the international settlement currency was a good vision. What promoted this vision was not the IOHK where Charles was, but Emurgo.\n \nNot long ago, Li De, the head of the original Emurgo China operation, broke the news after leaving the company. Emurgo CEO Ken not only did not have the ability, but also sold the ADA office.\n \nThe news caused an uproar in the Cardano community, but fortunately, everyone still believes in Charles's technical ability. And the ADA's currency price was not affected by this incident.\n \nHowever, under the premise that the public network of the public chain has not yet been launched, everyone can still expect the ADA with the trust of the technical staff. What if the main online line?\n \nTechnology is the foundation of the vision, and Emurgo is what drives the vision. The building was built even better, and the lack of capacity of the sales staff did not help.\n \nObviously, whether it is Ken's personal twitter or Emurgo's official website, we have not seen any valuable cooperation, which is probably the most disappointing thing for investors.\n \nIf the ADA wants to maintain the price of the currency after the main online line, those who lack the ability in Emurgo to occupy the position can be considered to be cleaned.\n ![合作信息.jpg](https://cdn.steemitimages.com/DQmNgDSqR53REacPSZ32hyTypUj3JCg4eJd1FMk57jmEtLv/%E5%90%88%E4%BD%9C%E4%BF%A1%E6%81%AF.jpg)\n \nThe cooperation information displayed on Emurgo's official website is still in June.\n\n**Copy the following link to register for the HuobiPro account:\nhttps://www.huobi.br.com/zh-cn/topic/invited/?invite_code=qazb3**",
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      "body": "**Foreword**\nThe blockchain originated in Bitcoin and was developed in Ethereum. Want to have a systematic understanding of the blockchain, it is best to know the principles of Bitcoin and Ethereum, which is why I wrote from Bitcoin and Ethereum.\n\nFor the blockchain project, the consensus mechanism is its fundamental value. The consensus is the basis of the application of the blockchain, which refers to how the participants collaborate in this system. Therefore, this article hopes to summarize the consensus mechanism of Bitcoin and Ethereum to help you better understand the value of the blockchain.\n\n**Text**\n\nWhat can the blockchain do?\n\nAfter the birth of Bitcoin, people found that the consensus mechanism can provide a new way of collaboration.\n\nFor example, game developers can plug the blockchain software development kit (SDK) into the trading part of the game. This part of the data will follow the blockchain's own transaction data and be packaged and confirmed by the miners.\n\nThis approach saves gamers the cost of storage and computing. For the players, their transaction history cannot be tampered with by anyone, so there is no mistake.\n\nFor another example, Company A purchased a value of 100,000 US dollars from Company B. The two parties signed a contract, and Company C made a certificate as a guarantee, and agreed to pay after one month. The contract information was packaged by the miners into the blockchain and could not be tampered with.\n\nCompany B delivers the goods, and Company C confirms the qualification. Both parties sign the same in the payment account to make the contract in the blockchain effective. After 1 month, the company A account will automatically pay to company B without manual intervention.\n\nIn fact, the blockchain project “hyperledger” is actively working on the second example. At present, more than 200 companies have participated in this project, including ABN Amro, BNP Paribas, Huawei, Samsung, and IBM.\n\nIt can be seen that when the miners package to confirm not only the transaction records, but the broader data, the use of the blockchain will also expand, and its functions are similar to common applications such as cloud computing and Alipay.\n\nBecause the blockchain has the characteristics of being unable to tamper with and automating the execution of contracts, the cost of communication, trust, and execution is greatly reduced, and it is favored by enterprises in some scenarios.\n\nBut at this stage, if the blockchain technology wants to be applied on a large scale, it still needs to solve many problems, especially efficiency and sustainability.\n\nTherefore, compared to Bitcoin, Ethereum is more concerned with usability.\n\nTherefore, they are trying to convert the consensus mechanism from Proof of Work (POW) to Proof Of Stake (POS).\n\nBased on POS, it develops the unique Casper consensus mechanism of Ethereum, and improves transaction processing speed, focusing on efficiency and sustainability issues.\n\nThe plan will be implemented in two phases, the first phase called Casper FFG and the second phase called Casper CBC.\n![以太坊生态 英文.png](https://cdn.steemitimages.com/DQmP31hRLrzEauyn1t51pVbm53WLSpJDxfh3v9WJPhmV2vw/%E4%BB%A5%E5%A4%AA%E5%9D%8A%E7%94%9F%E6%80%81%20%E8%8B%B1%E6%96%87.png)\n\n**Proof of interest mechanism POS**\n\nIn essence, Ethereum is also a kind of “money”, and its production process also comes from miners' bookkeeping rewards.\n\nHowever, in addition to recording transaction information, the Ethereum miners also record some data in the game and financial fields. This carrier is called a “smart contract”.\n\nTherefore, before solving the efficiency and sustainability issues, Ethereum also needs to achieve consistent results and cannot be falsified.\n\nSo how does the equity proof consensus mechanism work?\n\nWhen a transfer occurs between users, the Ethereum node client will receive the message.\n\nAt the same time, all participants (nodes, or certifiers) will review the information according to the code and automatically package it into \"blocks\". The client then votes on these \"blocks\".\n\nThe \"block\" with the highest ticket wins, forms a \"chain\", and synchronizes to the Ethereum node of the whole network. At this time, the transfer information is determined to be valid.\n\nSupporters who win the \"block\" will receive an Ethereum award and start a new round of voting.\n\nAmong them, the voting weight is determined by the amount of Ethereum in the client. The more the Ethereum currency held by the client, the higher the voting weight and the greater the probability of obtaining the reward.\n\nThis process is called Proof Of Stake (POS).\n\nIn POS, the \"block\" with the highest ticket is usually unique, and the result will be broadcasted to the whole network, which ensures the consistency of the entire network transaction record.\n\nMore importantly, in the process of generating the blockchain by the POS mechanism, it is not necessary to use the machine to calculate the \"hash problem\", so that the number of transactions that can be processed per second is greatly increased, and the electricity, land rent, etc. required by the machine are saved. cost.\n\n**Ethereum's equity certificate Casper**\n\nIn May of this year, the first code version of the FFG phase was officially released, aiming to transform the Ethereum workload proof into Proof Of Stake (POS).\n\nIn the Casper FFG phase, one out of every 50 blocks in Ethereum is generated by the POS.\n\nIn the future Casper CBC, the Ethereum consensus mechanism will be fully converted to POS, and on this basis, two aspects of the upgrade: the margin system, Sharding.\n\nThe margin system was established to enhance security. Casper stipulates that nodes need to submit Ethereum as a margin. Once they want to cheat, such as voting for all \"blocks\" or trying to attack the network, their margins will all be forfeited.\n\nSharding is to further increase the speed at which the system handles transactions. Sharding refers to grouping nodes first, then fragmenting the complete transaction data, randomly putting them into different groups for verification, and finally packing the results into \"blocks\" to form a \"chain\".\n\nSharding is like writing a book. First of all, the system will \"write the subject\", that is, the transaction information within a certain period of time, sort out the \"chapter directory\"; then, randomly assign the writing tasks of different chapters to different groups. After you have finished writing it, you will combine it into a \"book.\"\n\nIn theory, the nodes participating in the verification are infinitely numerous, and the grouping will be infinitely large. Therefore, the transaction speed of Ethereum is infinitely fast.\n\nFrom the current progress, Ethereum is expected to complete the Casper CBC online before the end of next year.\n\nAt the same time, the Ethereum network will be completed with the launch of functions such as the Plasma, account abstraction and stateless clients.![V神个人以太坊地址.png](https://cdn.steemitimages.com/DQmSu4BsQ33YzkPUotNwR5AGTGBhNab8awitNRYmt8NTVf6/V%E7%A5%9E%E4%B8%AA%E4%BA%BA%E4%BB%A5%E5%A4%AA%E5%9D%8A%E5%9C%B0%E5%9D%80.png)\n\nVitalik Buterin Personal Ethereum Address\n\n**Vitalik Buterin's \"Pride\"**\n\nWhat does the Casper Consensus mean for Ethereum? From the remarks of its founder Vitalik Buterin (founder of Ethereum), conclusions can be drawn.\n\nIn his personal tweet, the top content is to remind everyone to guard against the fraud of the Ethereum.\n\nIn addition, he also said that digital currency may return to zero at any time, and that the project party that advises to make money should not show off wealth.\n\nIn an interview with \"Wang Feng Shi Wen\", Vitalik said that Ethereum is no longer so dependent on Bitcoin, and he also believes that the exchange should go to hell.\n\nIn summary, Vitalik means that I hope that Ethereum can live independently, without being affected by other factors such as bitcoin and currency. Casper is the beginning of all this.\n\nPOS not only makes Ethereum different from Bitcoin in its fundamental consensus mechanism, but more importantly, it is efficient, which makes Ethereum, a digital asset, have the possibility of anchoring the application of the real industry. It is embedded in the real economy.\n\nWhen Ethereum has physical assets and liabilities as an endorsement, it has no essential difference from legal tender.\n\nThe POS makes it necessary to buy a lot of Ethereum coins and lock them before they want to participate in the bookkeeping. Objectively, the lockout will bring the price of the Ethereum to a new height.\n\nIf the Ethereum price exceeds Bitcoin, or will completely get rid of the \"shadow\" of Bitcoin, its price is not affected by the rise and fall of Bitcoin.\n\nCurrently, the details of Casper CBC are still under discussion and the entire network is expected to be deployed in 2019. Vitalik, who has experienced The DAO hacking incident, is significantly more cautious than before.\n\nHe created the prosperity of the coin circle. This is his \"pride\". He does not want his \"proud\" to die easily.\n\n**Copy the following link to register for the HuobiPro account:**\nhttps://www.huobi.br.com/zh-cn/topic/invited/?invite_code=qazb3\n\n**Reference materials:**\n\n1.https://ethfans.org/ajian1984/articles/Ethereum-Sharding-Concept-20171203-Shenzhen\n \n2.ethereum/sharding\nhttps://github.com/ethereum/sharding/blob/develop/docs/doc.md\n \n3.Bitcoin: A Peer-to-PeerElectronic Cash System\nhttps://bitcoincore.org/bitcoin.pdf\n \n4.Next-Generation Smart Contractand Decentralized Application Platform\nhttps://github.com/ethereum/wiki/wiki/White-Paper\n \n5.Ethereum Casper 101\nhttps://medium.com/@jonchoi/ethereum-casper-101-7a851a4f1eb0",
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      "body": "**Foreword**\nThe blockchain originated in Bitcoin and was developed in Ethereum. Want to have a systematic understanding of the blockchain, it is best to know the principles of Bitcoin and Ethereum, which is why I wrote from Bitcoin and Ethereum.\n\nFor the blockchain project, the consensus mechanism is its fundamental value. The consensus is the basis of the application of the blockchain, which refers to how the participants collaborate in this system. Therefore, this article hopes to summarize the consensus mechanism of Bitcoin and Ethereum to help you better understand the value of the blockchain.\n\n**Text**\nMany people first encounter bitcoin and see something that is surrounded by greed and deception, full of violent and scandals.\n\nBut when someone tries to blow up the bubble and explore the source, they will be impressed by the \"consensus\" built by Bitcoin. It feels like walking into a fully automated factory, and every node that handles things works according to established rules.\n\nBroadly speaking, consensus is a social collaboration method that can be applied in different fields to improve efficiency. It is the most essential difference between bitcoin and bubble events such as “Tulip Bubble” and “The Mississippi Bubble”.\n\nOn the other hand, the bitcoin consensus is not perfect. Since Nakamoto's intention is to create a \"money\", so he chose Consistency and Partition tolerance, weakened Availability, in principle CAP (referring in a distributed system, Consistency, Availability, Partition tolerance, the three can not be at the same time under the framework, so that Bitcoin consensus encountered a problem when expanding the application.\n![pow1英文.png](https://cdn.steemitimages.com/DQmfKXwAJzn1HUvacyPVjSfqP8osoZQjjNssx6wgkPvNJJZ/pow1%E8%8B%B1%E6%96%87.png)\n\nBased on this, some people try to study different consensus mechanisms to make up for the lack of application of Bitcoin.\n\nThe Ethereum community is one of the most famous people who are trying to introduce the proof of interest POS into Ethereum and name the plan Casper.\n\nThis article will revolve around the Bitcoin workload proof POW and the Ethereum Equity Proof Program Casper.\n\n**Bitcoin workload proof POW**\nAt first, Nakamoto wanted to create a currency that was agreed upon in advance, and once released, no one could control it. This will prevent someone from taking advantage of the self-interest, by controlling the circulation of money, and disguising the interests of the people in disguise.\n\nIn order to achieve the goal. First, Nakamoto has set the total amount of bitcoin at 21 million, and uses a dynamic function to specify a certain amount every 10 minutes. These 21 million coins will be fully circulated in 2140.\n\nSecond, Bitcoin transaction records are not controlled by any data center, but use peer-to-peer technology (P2P) to allow users to transfer funds directly, just as if they were using WeChat to transfer files.\n\nIn order to maintain the normal operation of the system, Satoshi Nakamoto rewards the newly generated bitcoin and transfer fee to the bookkeeping participant (miner, also known as the node). The working people are rewarded so that someone willingly work for the system.\n\nIn order not to make mistakes, Nakamoto needs to adopt a set of operating rules to make the system meet the following principles:\n\n1. The results are consistent. The transaction records of the entire network recorded by each node are consistent.\n2. Cannot be changed. No one can change the transaction history.\n3. Effective. The currency system works efficiently.\n4. Sustainable. The currency system can continue to run.\n\nThe rule to ensure the normal operation of the system is the consensus mechanism.\n\nHow does the Bitcoin consensus mechanism work?\n\nWhen User A transfers to User B, the Bitcoin client of the node (including AB itself) will receive this information.\n\nAt the same time, all participants will use the computing device (mining machine) to calculate a “hash problem” every 10 minutes within the client. The time and difficulty of this puzzle is controlled by dynamic functions to ensure a 10-minute interval.\n\nThis process is called proof of work (POW).\n\nThe node that first calculates the correct result will review whether the transaction information is true according to the code, and package the transfer information including the AB user for a certain period of time, package it together to confirm (packaged into \"block\"), and the current \"block\" \", connect to the previous \"block\", generate a \"blockchain\", and synchronize (broadcast) to all bitcoin nodes across the network.\n\nAt this time, the transfer transaction of A to B is judged to be valid.![pow2 英文.png](https://cdn.steemitimages.com/DQmVRLr3Kwqr8awAMbWrLkk6PMUbcyfkiNveTs9ZHp9k9DK/pow2%20%E8%8B%B1%E6%96%87.png)\n\n\nThe billing node receives the newly generated bitcoin and transfer fees as a reward and begins a new round of hash puzzle calculations.\n\nIn addition, the results of the bookkeeping are based on the “longest chain”. If two participants complete the workload proof at the same time and pack the blocks, they will start the “race”. Whoever is the first to create a new block will prevail.\n\nThe Workload Proof Mechanism (POW) makes each node participating in the accounting unique. The calculation result will be broadcasted to the whole network and subject to the longest chain. This ensures that the transaction records of the whole network node are consistent.\n\nIn addition, at the time of billing, the node also checks the \"unexpended balance\" (UTXO) of all addresses associated with the transaction. For example, if you check if A has an unspent balance, you need to check if A has received an earlier transfer, and so on, until “creation transaction”.\n\nIn theory, as long as the “creation transaction” remains unchanged, the current unspent balance for each person is determined.\n\nThe creation transaction remains the same, coupled with the distributed storage of transaction records, making it impossible for anyone to change the transaction history.![pow3 英文.png](https://cdn.steemitimages.com/DQmPo9z63ieuQAoGWZwA9WGSNHDfVnS6hs27Pry2mwiWxNt/pow3%20%E8%8B%B1%E6%96%87.png)\n\n\n\n**Energy consumption and \"the tragedy of the commons\"**\n\nIn fact, Bitcoin sacrifices usability to ensure system consistency and raises a number of issues.\n\nFirst of all, bitcoin is not efficient.\n\nOn the one hand, subject to size restrictions, each \"block\" contains 4000 transaction data, converted by 10 minutes of generation time, equivalent to 6.67 transactions per second, and even the number of unconfirmed transactions in Bitcoin has reached 12,134. pen\nThis is unqualified for the currency.\n\nOn the other hand, the workload proof mechanism consumes a lot of unnecessary resources. Each time it is packaged into blocks, all nodes calculate the hash problem separately, and the node that is finally eligible for accounting is unique. The work done by the rest of the nodes is a waste.\n\nIn addition, in order to obtain the billing rights with greater probability, people have invented special mining machines to improve their computing power. The mining machine consumes a lot of electricity in the process of calculating the hash problem. According to statistics, the current global power consumption of Bitcoin mines exceeds 159 countries in the world such as the Czech Republic.\n\nSecond, bitcoin may not be sustainable, and a unique distribution mechanism may put Bitcoin in \"the tragedy of the commons\"\n\nDue to Nakamoto's regulations, the new bitcoin reward is halved for every 210,000 blocks produced. By 2140, when Bitcoin was all dug out, the miners rewarded only the user transfer fee.\n\nAt the same time, don't forget that the size of the \"block\" is limited, so the amount of the fee is fixed.\n\nTherefore, at some point in the future, when the bitcoin rewards obtained by the miners' bills are equal to the cost of mining machinery hardware and electric rent, a large number of miners will withdraw from the bitcoin system, and the computing power will be concentrated in the hands of a few people.\n\nThey can use the calculated power to extend the new \"longest chain\" in the previous block, thereby invalidating the other chain and retrieving the coins they have already paid. This will cause a devastating blow to the Bitcoin system.\n![pow4 英文 .png](https://cdn.steemitimages.com/DQmbPXEF45GnCArBtwYs6gba3oSj54RJgAHW2DKtJTqmXnM/pow4%20%E8%8B%B1%E6%96%87%20.png)\n\n\nIn fact, the Bitcoin community has recognized the existence of problems. In recent years, they have discussed expanding the capacity of \"blocks\" or introducing solutions such as quarantine witnesses and lightning networks to increase the number of transactions per second (TPS). They even discussed whether to increase the total amount of issuance. But there has never been an agreement.\n\nThe good news is that although bitcoin payments are not as convenient as legal currency, countries such as the United States, Japan, Germany, Canada, Belarus, and Switzerland have accepted bitcoin payments and have recognized their legal status within a certain legal scope.\nSome countries have also set up Bitcoin ATM machines.\n\nIn essence, as a currency, Bitcoin is moving towards its original intention. In contrast, the problems that Ethereum needs to solve are much more complicated.\n\nCopy the following link to register for the HuobiPro account:\nhttps://www.huobi.br.com/zh-cn/topic/invited/?invite_code=qazb3\n\n\n**Reference materials:**\nEthereum Casper 101\nhttps://medium.com/@jonchoi/ethereum-casper-101-7a851a4f1eb0\n\nA Proof of Stake Design Philosophy\nhttps://medium.com/@VitalikButerin/a-proof-of-stake-design-philosophy-506585978d51\n\nProof of Stake FAQs\nhttps://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQs\n\nCasper Proof of Stake compendium\nhttps://github.com/ethereum/wiki/wiki/Casper-Proof-of-Stake-compendium\n\nProof of Stake: How I Learned to Love Weak Subjectivity\nhttps://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/\n\nCritique of Buterin’s “A Proof of Stake Design Philosophy”\nhttps://medium.com/@tuurdemeester/critique-of-buterins-a-proof-of-stake-design-philosophy-49fc9ebb36c6\n\nCryptocurrencies without Proof of Work\nhttps://arxiv.org/pdf/1406.5694.pdf\n\ncasper_basics.pdf\nhttps://github.com/ethereum/research/blob/master/papers/casper-basics/casper_basics.pdf\n\nThe Triangle of Harm\nhttps://vitalik.ca/general/2017/07/16/triangle_of_harm.html\n\nCasper Proof of Stake compendium\nhttps://github.com/ethereum/wiki/wiki/Casper-Proof-of-Stake-compendium",
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      "body": "The best way to understand Bitcoin is to go back to its starting point——the white paper.\n\nThe white paper clearly describes the reasons why Nakamoto has invented Bitcoin, the problems encountered and the solutions that can help us build a complete knowledge system.\n\nThe Bitcoin white paper was originally called \"Bitcoin: A Peer-to-Peer Electronic Cash System\",. Nakamoto told us very straightforwardly that Bitcoin is essentially \"money.\"\n\nSo, when someone tells you how to use the blockchain to save the Internet, how to use the \"Token economy\" to change the world, keep in mind that the essence of the token is \"money\", and the currency is issued a kind of \"money.\" Since it is \"money\", we must follow the development logic and laws of \"money.\"\n\nSo, what is the value of the \"money\" of Bitcoin?\n\nIn the first sentence of the abstract, Nakamoto tells us that the “money” he created can be transferred directly between users without the participation of financial institutions. It is called peer-to-peer (P2P technology). A breakdown will reveal that no financial institution means that the “money” has no issuer, the transaction process is not regulated, and everyone has no account.\n\nSo, where does the money come from in the Bitcoin system? Who is the issuer? No account, how to spend money? Who record the balance? How is security guaranteed? How does the entire system work?\n\nNext, as the picture shows，Nakamoto talked about the point-to-point e-cash, the problems he encountered, and how he planned to solve the problem. ![比特币流程图.png](https://cdn.steemitimages.com/DQmSQ6ttcxJe6vPkSmJk8x5LdxPmsMewBaAbyh8ZcjFH6q4/%E6%AF%94%E7%89%B9%E5%B8%81%E6%B5%81%E7%A8%8B%E5%9B%BE.png)\n\nDouble-spending is the biggest problem, which means spending the same amount of money multiple times. Since the system is peer-to-peer, that is, the user directly deals with the user, there is no authority like a bank to book the account. For example, A can bind his e-wallet to two accounts, use the same money to make payments to merchants B and C, and only one in B and C can actually receive the money.\n\nHow to solve the problem? Nakamoto used several important concepts: Digital signatures, Hash, Proof-of-work (POW), Timestamps, and Chain, and outlined how these concepts solve the double payment problem in the abstract. \n\nWhen User A transfers money to User B, A needs to attach his own digital signature and B's payment address to the bill, and use the hash algorithm for encryption. This message will be sent to the Bitcoin network. \n\nAt the same time, Bitcoin network participants (Node) need to use a computer in the client (early Bitcoin can use the computer to mine, now need to use a special mining machine) to calculate a \"difficult problem\" every 10 minutes, to complete the workload prove. ![比特币 英文.png](https://cdn.steemitimages.com/DQmVRLr3Kwqr8awAMbWrLkk6PMUbcyfkiNveTs9ZHp9k9DK/%E6%AF%94%E7%89%B9%E5%B8%81%20%E8%8B%B1%E6%96%87.png)\n\nParticipants who are the first to calculate the correct result are eligible to record the transfer information within a certain period of time, including the AB user, and receive the newly generated bitcoin and transfer fee as a reward. \n\nParticipants who are eligible to book will review the transaction information according to the rules and will check the “unexpended balance” (UTXO) of all addresses associated with the transaction. \n\nFor example, if you want to judge whether A has an unspent balance, you need to check A's earlier transfer record, and so on, until \"The foundation block\". In theory, as long as the “The foundation block” is unchanged, the current transaction that everyone is not spending will be locked, thus avoiding the harm of double payment.\n\nThe transfer information in the current time period will be packaged into a block, covered with a \"time stamp\", and connected to the previous block, connected as a chain (Chain). These blockchains containing existing transfer information will be synchronized to all participants. The result is based on the \"longest chain\".\n\nOnce the results are synchronized to all participants, they cannot be changed. Because it is impossible to change the books of all people, unless the cheater can produce a longer chain and make the previous chain invalid, this requires at least 51% of the total network power, so even Nakamoto can not change the \"The foundation\" Block\".\n\nThis means that if two participants complete the proof of work at the same time and pack the blocks, they will start a “race”. The person who first creates a new block has the right to keep accounts.\n\nIn this process, there is no authority like a bank or Alipay to record transaction information. Only the participants who have completed the proof of work are responsible for recording and synchronizing to all participants. This is called distributed and decentralized.\n\nBitcoin is not issued by any institution, but is distributed by participants in the form of rewards during the bookkeeping process. If all 21 million bitcoins are issued, the participant's reward will only be charged.\n\nPOW (Proof-of-Work) is a kind of \"consensus mechanism\". It is a rule to maintain the automatic operation of the bitcoin system. The specific code implementation process is much more complicated.\n\nSome people may think Bitcoin is difficult to understand. In fact, just keep in mind that no matter how complicated the blockchain technology and nouns are, the purpose is to create decentralized and automated collaboration methods, but the implementation methods are different and have their own advantages and disadvantages.\n\nIn the following sections, Nakamoto describes the technical principles of these concepts, including how to use SPV technology to reduce distributed storage space and the cost of using computing power.\n\nMany people may say: Oh, distributed, decentralized, pretty good, then? What is the value? Or, straightforward, why is Bitcoin so expensive? Will it rise in the future?\n\nHow is Bitcoin priced?\n\nWhat really makes bitcoin worthy is the anonymity and mining machine.\n\nThe amount of money issued by the state is based on the total value of current social goods. If the total value of social goods is $1000, and the currency is just issued at $1,000, then $1 purchase power; if the total value of social goods is $1,000 and the currency is issued at $2,000, then the original $1 purchaseable item now costs $2, which is Inflation 50%\n\nGenerally speaking, the currency of the new hairstyle is subject to the risk of selling due to limited credit. When people get the money, they will be quickly converted into daily necessities. When the new China was first established, the purchase of materials had to be limited by the “food stamps” to prevent the RMB from being sold. The same is true for Bitcoin. Eight years ago, someone had \"can't wait\" to buy pizza with 10,000 bitcoins.\n\nBut gradually, the anonymity of Bitcoin has become a black market for “Silk Road” and its monetary value anchors the total value of black market goods in a certain sense. On the other hand, the mining machine appeared, causing the computer to no longer dig out bitcoin. Ordinary people can only use the currency to exchange bitcoin, which will give birth to the secondary market. When the two effects are superimposed, there are people who spend money to buy bitcoin, carry out black market transactions, or transfer assets, making bitcoin prices start to rise.\n\nRising prices have attracted a lot of hot money, creating today's high currency prices. In the short term, Bitcoin prices will continue to fluctuate as traditional investment institutions enter. Therefore, in fact, the news is good or bad, sometimes it is just an excuse for the money from the banker. The impact of the inflow and outflow of funds is the real reason for the rise and fall of the currency.\n\nIn March 2020, a halving of bitcoin production may bring the price of the currency to a small peak. But in the long run, the impact of the altcoin competition and the global trade war will cause the price of the currency to fall back within a reasonable range.\n\nSocial collaboration boundary enlargement\n\nBroadly speaking, Bitcoin derives a blockchain that magnifies the boundaries of social collaboration.\n\nAt present, the most mainstream consensus mechanism, the workload proof POW, the equity certificate POS and the share authorization certificate DPOS represent the way of obtaining rights in actual social life: obtaining qualification certificates through class hours and exams, obtaining dividends through shareholding, and voting by voting Spokesperson.\n\nIn other words, the blockchain provides a paradigm that proves an interest and automatically receives a reward through a smart contract. We can imagine the following scene: On the street, pick up the broom with the gyroscope and clean the garbage in a certain area. After the camera confirms, you can automatically get the token reward. In the future, blockchain will be integrated with offline life through the Internet of Things, and smart contracts are the foundation.\n\nWe don't need to be affiliated with the company, we can also complete the assistance content and get the reward. Of course, this kind of collaboration does not completely replace the corporate system, but it offers more possibilities for ordinary people's lives. According to the current classification of blockchain tokens, the change in collaboration has penetrated into the fields of finance, international exchange, fair anti-counterfeiting, content copyright, medical care, virtual payment, data storage, Internet of Things, and games. In the next article, we will analyze these areas separately.\n\nSocial wealth redistribution\n\nIn fact, the digital currency is not far from life, and perhaps it can help us change some situations.\n\nIn theory, there is no issuer for digital currency, and the price of the currency is affected by the inflow and outflow of market funds. If the trade of AB is settled in digital currency, the economic level will be directly translated into the purchasing power of the currency in the country.\n\nThe traditional exchange rate is theoretically determined by the ratio of commodity value between the two countries. Take the mobile phone market as an example. If country A sells $10 and country B sells $100, the exchange rate of country A currency (A currency) to country B currency (B currency) is 1:10. With the core technology of B and the rising level of productivity, mobile phones are no longer a rarity, and prices have fallen to $20. At the same time, the price of mobile phones in country A is stable. Now, the actual exchange rate should be 1:2.\n\nHowever, the relatively backward A country still maintains the exchange rate at 1:10 in order to ensure a trade surplus. The mobile phone price of country B is $20. According to the exchange rate of 1:10, it is only equivalent to $2 in country A, while the mobile phone in country A is still $10. Therefore, the mobile phone of country B quickly occupied the market of country A.\n\nThe A currency earned by the mobile phone trader of Country B cannot be used directly in Country B. Therefore, the Bank of B will exchange the printed B currency for the A currency in the hands of the merchant. In essence, the issuance of B currency is affected by foreign exchange reserves. However, Bank B did not destroy the exchanged A currency, but used it for investment, which is equivalent to the excess currency. The wealth of country B has increased, but the people have not benefited.\n\nFor country A, the influx of foreign goods has affected the domestic manufacturing industry, resulting in an increase in unemployment rate. Therefore, country A imposes tariffs and starts a trade war, but the actual losses are borne by the people of both countries.\n\nDigital currency will change this situation. This is also why digital currencies are often hindered in the development of fast-growing trade surplus countries. When a country accepts multiple legal currency payments, the public will have more currency choices to avoid the risk of depreciation. For example, converting the legal currency into the dollar-locked TEDA (USDT), the state cannot easily harvest the poor's money, which will make the social wealth Redistribution will enter a new cycle.\n\nOn the other hand, if the state issues an official digital currency, the rules of issue need to be explained in the white paper. If there is a super-issuance in the future, the miners who participate in the bookkeeping will know that the market will make corresponding buying or selling actions, and reflect the current monetary value directly on the currency price. Every action of the bank needs to be explained.\n\nTo summarise, the Bitcoin system is an unsupervised automated “pipeline” established by Nakamoto. Participants work according to the “consensus mechanism”, sorting user transactions, checking unspent balances, and letting the system run automatically. To prevent participants from cheating.\n\nHowever, the system is not perfect, and there are advantages and disadvantages. Today, people have developed two different directions based on the \"good and bad\" of Bitcoin.\n\nOn the one hand, according to its advantages, the development of “smart contracts” will extend the scope of participants' collaboration from bookkeeping to other fields, such as ETH and ADA. On the other hand, according to its disadvantages, improvements in transmission efficiency and experience, such as LET, XMR, etc. As a result, Bitcoin has also become the vane of the market's ups and downs. Block chain era kicked off.\n\nCopy the following link to register for the HuobiPro account:\nhttps://www.huobi.br.com/zh-cn/topic/invited/?invite_code=qazb3",
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      "body": "Airdrop refers to the process of digital currency issuers giving their tokens to users for free.\nUsers can exchange these freely obtained tokens into currency such as Bitcoin and withdraw them. To do this, just do the following:\n\nMetamask or IMtoken wallet\nExchange account number (registered address:https://www.huobi.br.com/zh-cn/topic/invited/?invite_code=qazb3）\n\nAt the beginning of this year, the ONT (ontology coin) issuer once gave each user an airdrop of 1,000 ONTs. At the opening, the price of a single ONT once reached $64.72, which means that 1000 ONTs were worth $64,720. It is said that someone has registered multiple accounts and obtained ONT airdrops many times, so they bought Porsche.![1 ONT空投.png](https://cdn.steemitimages.com/DQmZGsPHmPR3RqH5ipcXuW1jE4T4NCHs5v4HUrPLMyvGyZh/1%20ONT%E7%A9%BA%E6%8A%95.png)\n\nOf course, behind the ONT, there are many capitals such as \tZhenFund, Sequoia Capital, Matrix Partners China, and the miracle created is difficult to replicate. But for ordinary people, when you have time, you can earn some money. It’s okay to be happy.\n\n1.Register wallet\nIn order to get the tokens given by the project, you must have your own Ethereum wallet. Let's take Metamask as an example.\nFirst, download \"Google Chrome\", open Google Chrome, and click the \"Apply\" button in the top left corner.\n![3. 应用.png](https://cdn.steemitimages.com/DQmTfMzXTjPnUL5NyReXYxfwD6EUx2Dx2oL5QcLvFbE8KND/3.%20%E5%BA%94%E7%94%A8.png)\n\nIn the search bar, type \"metamask\" and click on the right side to add a plugin.\n![4 扩展.png](https://cdn.steemitimages.com/DQmPLYpQ3GzqZmJTgTf9o19uktGhPCazXfoxPNyDDFLC7F4/4%20%E6%89%A9%E5%B1%95.png)\n\nAfter that, we will find a little fox logo on the right side, this is your Ethereum wallet.\n![4 小狐狸标识.png](https://cdn.steemitimages.com/DQmNeJGb5RhXDCQ5SNfhobqw3mr8357aBRY2qui78d48e7K/4%20%E5%B0%8F%E7%8B%90%E7%8B%B8%E6%A0%87%E8%AF%86.png)\nClick on \"Fox\", there will be a few large paragraphs of English, turn down to the end, \"Accpet\" will light up, click, and then go to the following page. Set the password and remember to click on \"CREATE\".\n\n![5 钱包CREATE.png](https://cdn.steemitimages.com/DQmWPbR6qhLQhuAzqMz97T5GAPJHpxhofNUntehS48KwrEa/5%20%E9%92%B1%E5%8C%85CREATE.png)\n\nThe following page is very, very critical. Remember, be sure to keep the following 12 words in mind, that is, mnemonics, and don't tell others, because in the future, you need to use 12 words to reply to the wallet data.\n![6 zhujichi.png](https://cdn.steemitimages.com/DQmQmLjsknx6bd8aNsibkzsXNkc8hSMQ7d3NF8PehBJL7Lo/6%20zhujichi.png)\nCopy the mnemonic onto the paper, or save it to a file, click on the first button, and your Ethereum wallet will be generated.\n![7 以太坊钱包.png](https://cdn.steemitimages.com/DQmcveZiAJAecCzkoDt9GoX3poGzbAUqASEmJhy5Q4e55pn/7%20%E4%BB%A5%E5%A4%AA%E5%9D%8A%E9%92%B1%E5%8C%85.png)\n\nClick on the red area to copy your wallet address into an easy-to-read notepad. This is your payment address.\n![复制地址.png](https://cdn.steemitimages.com/DQmWDVjpyKEhequp5a18vnFv4wQV7tmTmPtVePFMiNgAmjg/%E5%A4%8D%E5%88%B6%E5%9C%B0%E5%9D%80.png)\n\n2.Login to the airdrop website\nGo to the website airdrops.io or worthyairdrops.com/, which displays the various currencies that are being presented.\nThen, we randomly select a currency, enter the page, fill in as required, and the project party's airdrop is over, you can receive the currency in the Ethereum wallet.\n![8 示例.png](https://cdn.steemitimages.com/DQmTCovNqb9aok5aXGzTBweZA9oujVjzw6CS2hGGUWxKK3V/8%20%E7%A4%BA%E4%BE%8B.png)\n\n3.OTC\" (Over-the-CounterMarket) \nCopy the link below to register your FirePro account\nhttps://www.huobi.br.com/zh-cn/topic/invited/?invite_code=qazb3\n\nIn the \"Balance\" - \"Dposit & Withdraw,find ETH, click on \"Deposit\", you will get the Ethereum address in Huobi Pro.\n![火币英文.png](https://cdn.steemitimages.com/DQmcpwJUdmGbjghu62BKa8ET1aMyrRcD8DYUX5BskrxR3zQ/%E7%81%AB%E5%B8%81%E8%8B%B1%E6%96%87.png)\n\nThen click on the little fox, click on \"SEND\", fill in the first column with your Ethereum address in Firecoin Pro, in the second column, fill in the amount you want to transfer, click \"NEXT\", and then confirm. after a while, the coins you get for free will go to the account of Huobi Pro, and then you can exchange them into Bitcoin through\"OTC\" (Over-the-CounterMarket) or withdraw them through \"EXCHANGE\"\n![提现.png](https://cdn.steemitimages.com/DQmXuuqhwTBnxefBeCVs6UWLwX8ySaR3HdhbW36SrqKWEzd/%E6%8F%90%E7%8E%B0.png)\n\nFinally, pay attention to a few things:\n1.Remember the mnemonic, otherwise the money will not be found.\n\n2.When registering your Ethereum wallet address with the token party, do not directly fill in the Ethereum address in the exchange such as huobi. Otherwise, you will donate to the exchange. Be sure to fill in the address in your Metamask.\n\n3.Some credits will not be issued for some reason. If this happens, remember to have a statement in the Telegram group @Customer service.\n\n4.Some of the candies cannot be traded on Huobi Pro. You can search for the coin name on the website (www.feixiaohao.com) to see which exchanges it have logged in to.",
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