What is special coins ⽐
⽐ Laid credits by the concepts and technologies as over a series of digital money system constructed ⽣ state basis. Narrow "⽐ special coin" system represents the unit of currency, using to store and transfer
value. Use ⼾ mainly through the Internet ⽹ Use ⽐ Laid token system, although other Open networks also can use. ⽐ special currency agreement is implemented as a variety of open source software, the software
can Operation with laptops, smart cellular phones and other devices, so Use ⼾ ⽅ conveniently pick START ⽐ special currency system.
⽐ special coins can do all things traditional currency can do, such as the sale of goods, or to Face organization remittances, loans. Using ⼾ can ⾥ trading ⽐ special coins in special ⻔ exchange or
exchange other currencies. In the sense given to the next higher, ⽐ special currency is the currency of the Internet ⽹ perfect form. Because it has a fast, safe, no matter if borders characteristics.
Unlike traditional currency, ⽐ special currency is entirely virtual. It not only failed entity, in essence, there is no ⼀ kinds of virtual goods on behalf of ⽐ special coins. ⽐ Patent credits implicit in the transceiver currency
transfer recording. Using ⼾ as long as the key to prove its right to control, Use keys to unlock, you can send ⽐ special coins. These keys are usually stored in the computer's digital wallet
⾥. Using the key is to have special coins ⽐ the only ⼀ conditions, which makes control rests in each of the Face in the watch.
⽐ Japanese currency is ⼀ a distributed system of peer Open networks. Therefore, there is no "central" server, there is no central agency issued ⾏. ⽐ special coins through the "mining" associate the resulting production, mining it
is to verify ⽐ special currency transactions while participating in a race to solve mathematical problems ⼀. Any participant (⽐ such as transport ⾏ ⼀ complete protocol stack Face) can do mine ⼯, he Using
their computer calculation care has been taken to verify and record the transaction. Face average every 10 minutes to verify the past 10 minutes made associate the resulting deal, he will receive the new currency as ⼯ in return. This
qualitative, the central mining hair ⾏ currency and perform while clearing functions distributed into ⾏, Using competitive global operator care has to replace the need for a central mechanism made ⾏.
⽐ Laid token system comprises a protocol regulating mining difficulty. Mining - success is writing ⼀ blocks traded in ⽐ special coins Open networks - the difficulty is dynamically adjusted to ensure that no matter
how many mines ⼯ (how much CPU) mining, with an average every 10 minutes only ⼀ mines ⼯ success.
⽐ special currency agreement also provides that every four years the exploitation of the new currency by half, while limiting the total amount of final mining ⽐ special coins to 2,100 ten thousand. Thus, the flow amount of credits ⽐ Laid comes in handy
very close ⼀ curve, and will ⽐ Patent 2,100 ten thousand credits in 2140. Since the production rate ⽐ special coins decreasing over time, from ⻓ term, ⽐ special kind of currency is ⼀
deflation currency. In addition, not by "printing" new ⽐ special coins to achieve "inflation."
Special currency development history ⽐
In 2008, ⼀ bit pseudonym Satoshi people in them, in ⼀ article titled: On "⽐ currency ⼀ a special point of submenus now ⾦ electrical system" therefore especially in the file first proposed ⽐ special coins. Nakamoto
binding a plurality of digital money previous invention, as a HashCash and B-money, to create a fully ⼀ center weighted submenus of electrical current ⾦ system does not rely on security or currency
are settled transaction verification security central authority. The key innovation is the benefit Using a distributed computing system (referred to as "⼯ as the amount of proof" algorithm) every 10 minutes into the ⾏ ⼀ times full
⽹ "selection" enables to Center Weighted Open networks synchronization of transactions. This can be elegant solution to the problem of double ⽀ pay that ⼀ ⼀ single monetary unit can use the two.
Previously, the problem is twofold ⽀ pay ⼀ weakness digital currency and clears all transactions handled by ⼀ central clearing institutions.
⽐ when running a special currency Open networks are on the file, ⽐ special coins Open networks automatically, launched in 2009 after being revised from many other programmers according to Nakamoto published articles ⼀ involved. Distributed
computing, to provide a doubling ⻓ security and toughness ⽐ special coins, now more than a joint deal with the world's top supercomputer capable of eyesight. According ⽐ special currency against the dollar,
the total market valuation ⽐ special coins for $ 50 to approximately 100 million. From the point of view destination time before full ⽹, ⽐ special treatment from the largest currency trading amounted to $ 150 million, the deal is timely processing and transfer
accounts, the watch did not pay any renewals.
Nakamoto withdraw from public view in the Month of April 2011, the task of ⽐ special currency code development and network construction ⽹ left to the members of the community thriving. Who ⽽ "Nakamoto" What is that
when ⾄ this date is still a mystery. However ⽽, especially when running a ⽐ currency system, not dependent on the Nakamoto, nor on any other Face - ⽐ special currency system relies completely
transparent mathematical principles. The present invention is groundbreaking chest upwards, it has spread to distributed computing, economics and econometrics.
Mining block of transaction records
Open networks are associate the resulting ⼀ transactions until a whole ⽐ special coins zoomed books - when only one part of the chain of the block will only be validated. On average every 10 minutes, will automatically to the next higher ore ⼯
all transactions made since the blocks into a kind occurred ⽣ causes a new block. New deals continue to flow ⼾ wallet and to apply it clicks into ⽐ special coins from Using Open networks. When a node on ⽐ special coins Open networks to see
when these transactions, they will first put each node automatically maintained ⼀ temporary unproven trading pool. When the mine ⼯ causes a new building blocks, these transactions will be
from this transaction pool out into this new block, then ⼀ solve a difficult problem comes in handy (also known as ⼯ amount of proof) by attempting to prove this new block of
legitimacy.
These transactions are added to the new block to the priority rules and other ⼀ some using high transaction costs into ⾏ sort. Mine ⼯ ⼀ Once Upon receipt causes a new block from the Open networks, knowing
knowledge to problem-solving competition on this block has been lost, and began digging under ⼯ causes a new block will work on ⻢. It will immediately while you set remains in some transactions and this new block of digital
fingerprint on the record the next ⼀ from start to build a new block, and began to make it ⼯ calculate the amount of proof. Each mine will ⼯ Contains either a special deal on his block, the new ⽣
into ⽐ special coins (each block is currently 25 ⽐ special coins) to pay as a reward ⽀ ⽐ address his special coins Your Own . If he found that the effective solution of the new block, he will
get this reward, because the new blocks are added to the total clicks into block chain, he added reward of this transaction will become consumable. Jing involved in mine pools set up
his software, so that the address will return to the mine pool address when building a new block. Then according to ⼯ for the amount of the contribution of each wheel ⼀ automatically resulting remuneration given to Jing and its
ore ⼯ he was involved in mining of mineral pool.
