(1) What are some professional terms in the currency circle?
26 common terms in the blockchain industry explained
Blockchain is a new application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. is a shared distributed ledger in which transactions are permanently recorded through additional blocks.
In the Bitcoin network, data is permanently recorded in the form of files, which we call blocks. A block is a set of records of some or all of the latest Bitcoin transactions that have not been recorded by other previous blocks.
3. Node – Node
A copy of the ledger operated by the participants of the blockchain network.
Decentralization is a phenomenon or structure that must appear or exist in a system with many nodes or in a group with many individuals. The influence between nodes will form a nonlinear causal relationship through the network.
5. Consensus mechanism
The consensus mechanism is to complete the verification and confirmation of the transaction in a very short time through the voting of special nodes; for a transaction, if the interests are irrelevant If several nodes can reach a consensus, we can think that the whole network can also reach a consensus on this.
6. Pow – Proof of Work
Proofof Work means how much currency you get, depending on the amount of work you contribute to mining, the better the computer performance, the more money you get There will be more mines.
7. PoS – Proof of Stake
Proofof Stake, a system for distributing interest based on the amount and time of currency you hold. In the POS mode, your “mining” The profit is proportional to your coin age, and has nothing to do with the computing power of your computer.
8. Smart contracts
Smart contracts are computer protocols designed to spread, verify or execute contracts in an information-based manner. Smart contracts allow for trusted transactions without third parties that are traceable and irreversible.
A timestamp refers to a string or encoded information used to identify the recorded time and date. The international standard is ISO 8601.
10. Turing completeness
Turing completeness refers to the ability of a machine to perform computations that any other programmable computer can perform.
11. Dapp – Decentralized Application
It is an open-source application that runs automatically and stores its data on the blockchain in the form of cryptocurrency tokens. Form incentives and operate with protocols that show proof of value.
12. DAO – Decentralized Autonomous Organization
It can be considered as a company that operates without any human intervention, and gives all forms of control to a set of Broken business rules.
13. PrivateKey – Private Key
A private key is a string of data that allows you to access a token in a particular wallet. As cryptocurrencies, they are hidden from all but the owner of the address.
14. PublicKey – public key
is paired with the private key. The public key can calculate the address of the coin, so it can be used as a certificate for owning the coin address.
A computing device or software that attempts to create blocks and add them to the blockchain. In a blockchain network, when a new valid block is created, the system generally automatically gives the block creator (miner) a certain amount of tokens as a reward.
16. Mining Pool
It is a fully automatic mining platform, which enables miners to contribute their respective computing power to mine together to create blocks and obtain block rewards. And distribute profits according to the proportion of computing power contribution (that is, the mining machine accesses the mining pool – provides computing power – obtains income).
17. Public chain
A completely open blockchain refers to a blockchain that can be read by anyone, can be sent by anyone, and the transaction can be effectively confirmed. Everyone in the world can participate in system maintenance, and anyone can read and write data through transactions or mining.
18. Private chain
The write permission is only for a blockchain of a certain organization or a specific few objects. Read permissions can be open to the outside world, or restricted to any degree.
19. Consortium chain
The consensus mechanism is a blockchain jointly controlled by a number of designated institutions.
pegged sidechains technology (pegged sidechains), which will realize the transfer of bitcoin and other digital assets between multiple blockchains, which This means that users can access the new cryptocurrency system while using their existing assets.
21. Cross-chain technology
Cross-chain technology can be understood as a bridge connecting various blockchains, and its main application is to realize atomic transactions, asset conversion, regional Information exchange within the blockchain, or solving Oracle problems, etc.
22. Hard fork
The blockchain has a permanent divergence. After the release of the new consensus rules, some nodes that have not been upgraded cannot be verified.��Blocks produced by nodes that have been upgraded, usually a hard fork will occur.
23. Soft fork
When the new consensus rules are released, nodes that have not been upgraded will produce illegal blocks because they do not know the new consensus rules, which will generate Temporary fork.
24, Hash——Hash value
Generally translated as “hash”, there are also direct transliteration as “hash”. Simply put, it is a function that compresses a message of any length into a message digest of a fixed length.
25. Main chain
The term main chain originates from the main network (as opposed to the test network), which is an officially launched, independent blockchain network.
Those who don’t know the “jargon” of the currency circle, come and learn:
1. What is fiat currency?
Fiat currency is legal tender, issued by the state and the government, and only guaranteed by government credit, such as RMB, U.S. dollar and so on.
2. What is token?
token, usually translated into token. Token is one of the important concepts in the blockchain. Its more widely known name is “token”, but in the eyes of professional “chain circle” people, its more accurate translation is “token”, which represents the district. A proof of stake on the blockchain, not a currency.
Three elements of Token
One is the digital proof of rights and interests. The certificate must be a proof of rights and interests in digital form, representing a right, an inherent and intrinsic value;
Second, encrypted currency, the authenticity of the certificate, tamper-proof, privacy protection and other capabilities are guaranteed by cryptography;
The third is to be able to flow in a network, thereby Verification can be done anytime, anywhere.
3. What is Jiancang?
Opening a position in the currency circle is also called opening a position, which means that a trader newly buys or sells a certain amount of digital currency.
4. What is Stud?
Coin circle stud means putting all the principal in.
5. What is an airdrop?
Airdrops are a very popular cryptocurrency marketing method. In order to allow potential investors and cryptocurrency enthusiasts to obtain token-related information, the token team conducts frequent airdrops.
6. What is lock-up?
Locking generally refers to investors opening new positions opposite to their original positions after buying and selling contracts, when the market moves in the opposite direction to their own operations, also known as pair locks, order locks, or even U.S. It’s called Double Flying Butterfly.
7. What is candy?
The candy in the currency circle is the digital currency that is distributed to users for free at the ICO of various digital currencies.
8. What is a break?
Breaking refers to falling below, and hair refers to the issue price of digital currency. A currency break is when a certain digital currency falls below the issued price.
9. What is private placement?
Private placement in the currency circle is a way to invest in cryptocurrency projects, and it is also the best way for cryptocurrency project founders to raise funds for the operation of the platform.
10. How do you see the K-line chart?
Candlestick Charts, also known as candle charts, Japanese lines, yin and yang lines, stick lines, red and black lines, etc., are commonly referred to as “K lines”. It is plotted with the open, high, low and close prices for each analysis period.
11. What is hedging?
General hedging is to carry out two trades related to the market at the same time, in opposite directions, equal in quantity, and offsetting profits and losses. In the futures contract market, buy the same amount of positions in different directions, and when the direction is determined, close the positions in the opposite direction, and keep the positive direction for profit.
12. What is the position?
Position is a market agreement that promises to buy and sell the initial position of the contract. The person who buys the contract is a long position and is in a position that hopes to rise; the seller of a contract is a short position and is in a position that hopes to fall.
13. What are the benefits?
Positive: Refers to the news that the currency has received mainstream media attention, or that there is a breakthrough in the application of a certain technology, which is conducive to stimulating the price increase, which is called a good news.
14. What is bad?
Bad: news that prompts a fall in currency prices, such as bitcoin technical problems, central bank suppression, etc.
15. What is the rebound?
The price adjustment phenomenon in which the currency price rebounds due to the rapid fall in the downward trend. The rise is less than the fall.
16. What is leverage?
Leveraged trading, as the name suggests, is to use a small amount of capital to invest several times the original amount, in the hope of obtaining several times the rate of return or loss relative to the fluctuation of the investment target.
(ii) What is the currency circle?
The currency circle is the natural circle formed by digital currency players. Digital currency is virtual currency.
(iii) What does fud mean in the currency circle
FUD means “Fear, uncertainty and doubt”, which means that investors are afraid of unknown prospects and negative news the meaning of.
㈣ What is the 3.12 event in the currency circle
According to the data of coinmarketcap.com,
March 2020On the 12th, the transaction volume of the entire Bitcoin network reached 8.44 million;
On March 13, 2020, the transaction volume of the entire Bitcoin network reached 14.91 million;
As of March 20, 2020, in the past 9 days, the total transaction volume of the entire Bitcoin network has reached 77.5 million!
Some people may doubt the authenticity of this data, but in the statistics of the encrypted network, it is in China From March 12th to March 13th, only one, the 24-hour network-wide transaction volume exceeded 230 billion yuan (over 30 billion US dollars, based on the average price of 6,000 US dollars per bitcoin, the transaction volume also reached 230 billion yuan). 5 million bitcoins).
As we all know, there are only 21 million bitcoins in total, and 18 million have been mined by miners. Among them, at least about 11 million bitcoins have never been used for transactions, and 4 million have almost been lost, and a total of 4 million bitcoins used for transactions are dead…
The Xueshuo Innovation Block Chain Technology Workstation under Lianqiao Education Online is the only approved “Blockchain Technology Major” pilot workstation of the “Smart Learning Workshop 2020-Xueshuo Innovation Workstation” carried out by the School Planning, Construction and Development Center of the Ministry of Education of China. The professional station is based on providing students with diversified growth paths, promotes the reform of the combination of professional degree research, production, study and research, and builds an applied and compound talent training system.
(v) What is the currency circle?
The currency circle is about the issuance, trading, speculation and all related activities of digital currency (virtual currency), and also There are participating individual users or institutions. The common digital currencies are Bitcoin, Litecoin, etc. Here, Bitcoin is the most heard by people, and many people participate in Bitcoin trading in peacetime. Bitcoin was proposed by Satoshi Nakamoto in 2008, the total number is only 21 million, and its issuance does not depend on any institution. As bitcoins continue to be mined, the difficulty of generating bitcoins will increase in the future, and the cost of obtaining bitcoins may be higher than the price of bitcoins themselves.
The content of this article comes from: China Law Publishing House “Financial Code of the People’s Republic of China: Application Edition”
(vi) Circulation of the top ten currencies in the currency circle
The first place, Bitcoin, has a total of 21 million pieces.
Bitcoin is currently the most widely used digital currency. It is called digital gold by investors. It was born on January 3, 2009. It is a peer-to-peer (P2P) digital cryptocurrency with a total of 2100 million. The Bitcoin network releases a certain amount of coins every 10 minutes and is expected to reach its limit in 2140.
Second place, Ethereum. Ethereum is the token of Ethereum, which acts as a medium (GAS) for paying transaction fees and computing service fees on Ethereum. Similar to BTC, this cryptocurrency can be used to trade with other cryptocurrencies or other fiat currencies, and is one of the most valuable cryptocurrencies besides Bitcoin. It was issued on July 24, 2014, and the total amount of the initial issuance was about 72 million ETH during the crowdfunding.
㈦ Three Laws of the Currency Circle
The first law:
Do not operate frequently, develop a good habit of regular investment strategy, otherwise you do No amount of money is in vain. Many people are afraid of stepping empty when they have no coins. They are afraid that they will be held at a high position when they have coins in their hands. Some people who have held coins for a long time will cut their flesh and leave the market because of a small episode, and they will rise as soon as they are cut. Now, this is a typical death before dawn, so be sure to do a good job of making a fixed investment strategy————determine the loss and determine the profit.
The second law:
You should be aware of the risks after hearing the good news. Generally, the corresponding currency will start a market a few days before the good news. If you happen to hold the currency, you should consider the cashing of profits. The attitude must be Resolutely! There can be no hesitation. Don’t expect to get out of the trade at a profit from the highs.
The 3rd Law:
When you hear bad news, you can aim for a wave of bullish coins. Of course, the premise is that there is a certain deterrent of bad news, and after it has been fermented for a period of time, you can wait for the bad sound to gradually become smaller. Step by step.
The so-called currency circle is the circle naturally formed by digital currency players. The currency circle is not large, but the number of people is not small, and it is basically a niche among the crowd, but it is finally a circle, there are not many people who make money, and all kinds of ways to make money are quickly copied over, ico, speculation coins, mining, etc.
There are many ways to make money in the currency circle, the most important ones are speculating coins, ICO crowdfunding, and moving bricks. The legal currency in the currency circle is legal currency, which is issued by the country and the government, and only government credit is guaranteed, such as RMB, US dollar and so on.
1. Currency circle token
token, usually translated into a certificate. Token is one of the important concepts in the blockchain. Its more widely known name is “token”, but in the eyes of professional “chain circle” people, its more accurate translation is “token”, which represents the district. A proof of stake on the blockchain, not a currency.
Three of TokensElements:
One is digital proof of rights and interests, the certificate must be a certificate of rights and interests in digital form, representing a right, a kind of inherent and inherent value;
The second is encryption, the authenticity of the certificate, The ability to prevent tampering, protect privacy, etc. is guaranteed by cryptography;
The third is to be able to flow in a network, so that it can be verified anytime, anywhere.
2. Opening a position in the currency circle
Opening a position in the currency circle is also called opening a position, which means that a trader newly buys or sells a certain amount of digital currency.
3. Stud in the currency circle
The stud in the currency circle refers to investing all the principal.
4. Currency circle airdrop
Airdrop is a very popular cryptocurrency marketing method. In order to allow potential investors and cryptocurrency enthusiasts to obtain token-related information, the token team conducts frequent airdrops.
㈧ Who is JK in the currency circle
Jk in the currency circle is JK Rowling.
JK Rowling’s Twitter subscription has 14 million+, and all the currency circles are climaxing because JK talks about Bitcoin.
It allows 14 million+ users to see Bitcoin, which is a huge amount of traffic.
㈨ BT110 heard that it is very popular in the currency circle recently, what are they doing?
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