Totoro TOC Blockchain Academy - The Value of Smart Contracts and Digital Currency

Totoro TOC Blockchain Academy Guide: Following the previous article, this article explains the difference between smart contracts and Bitcoin, the role of digital currency, and a little bit about digital currency investment.

Smart contract

I later met a smart contract. I was in contact with Bitcoin at the same time. I was exposed to Ethereum. Ether is very interesting. I used to be a software front end, a mobile client, a web page, etc. I was sensitive to the interface and user interface. I contacted a software. Appearance is very reliable software, you can buy Bitcoin in this software, you can also buy a digital fire coin called ETH, I just touched Ethereum.

I was thinking about the difference between Ethereum and Bitcoin. After studying it for a long time, I discovered smart contracts. In fact, it is still dealing with money, based on an application. For example, when a certain amount of money arrives in an account, the owner of the account, the smart contract begins to execute, just like a robot. When the robot receives the money, it can automatically react. It can automatically lock up the money it receives and prevent others from taking it. Only when certain conditions permit it can be lifted. Assigning this money to someone is an automated operation of money. You can write a program to control the behavior of money. For this automated operation, it can only be based on digital currency. As long as you have a private key, you have absolute control of the digital currency. This intelligence can be achieved and Ethereum can achieve this function.

In addition to the free flow of money and smart contracts, three people can jointly manage a bank account. Only when these three people allow it, the money can be taken away. How does this thing work in the real world? In the real world, you need to sign a contract with the bank's staff and say that the money is put there, and then if one of the three people comes to raise the money, tell the bank's staff not to let him take it away. Equivalent to the role of the bank's staff as a smart contract, you can use it to achieve this function.

The first time I saw a smart contract, I think it was very good. It is necessary to exist. With digital currency, money can be programmatically controlled. There should be a lot of smart contracts. As a result, I discovered that at the earliest time, when it was less than 2016, there were already a lot of smart contracts, and very few people used it in the early days. But you find that a lot of people are already developing this stuff, which means that this thing is reliable. After I contacted Ethereum, I discovered that there are various applications, indicating that there are great potentials for the application of smart contracts. I started with a knowledge of blockchain technology from nothing. What is the main difference? Just like to think about problems and write questions. Why is this thing valuable? Or what exactly does this thing look like, and what does its working principle look like? Like to think about the problem, as long as the question is right, the answer will always be!

This is what I want to tell everyone. From the early days of people who didn't know anything, to now they have some knowledge. Many people in the digital currency circle also know a lot of people. Then they began to write public numbers. In June 2016, when we started researching and accepting digital currency, we opened a public number in April 2017. We began to find that there is no good Chinese content. We wrote educational articles from the very beginning to teach everyone what it was like. .

Actually, when I write the public number, I also like tossing about and finding something for myself. One is to record my thoughts, because sometimes the idea of ​​your previous month is not the same as the idea of ​​the next month, so you need to put it in time. His own thoughts are recorded by means of articles, and they are also an explanation of himself. There are not many fans in their realization. There are thousands of fans, but it is a mentality to play while playing.

Later, I went to see Japan. I have no other advantages. I like to experience a variety of products. When I was in junior high school, I liked to research anti-virus software and installed all the anti-virus software on the market. I do not know why I like anti-virus software so much. I have made my computer extremely slow. The digital currency is actually the same. Many digital currencies I will use by myself. When we go to learn something, we have to use it for myself. Several transactions were made and some transactions were quickly confirmed. Some transactions could not be confirmed within three days. Whatever happened, they began to study. It turned out that because the fees were too low, the miners did not go package the transaction.

Sometimes when I find my wallet, the same one bitcoin has so many wallets. Unlike Alipay, I use Alipay to send money to Alipay users. It is hard to imagine that the money in Alipay can be used by another application. Of course, the bank is fine, but bitcoin is a magical thing. There is no virtual electronic product. There is no official software. Later, it was discovered that the research turned out to be an open agreement. As long as everyone follows this agreement, it follows the format of the transaction. The format of the signature is that all clients can communicate with each other. These things are used, not what I came up with, nor are I able to see a few articles I read. They are all used by me. Therefore, it is also an important method to use myself.

For example, for some of the digital currency such as Ethereum, you deploy a simple smart contract yourself. Of course, you need to have some programming skills to play it yourself. To start making money, you will find that you will participate in smart contracts. The build. Understanding is a little deeper than before participation. Smart contracts can do amazing things. When the money is melted in, you can enter it. If the money doesn't go in, it will automatically return to you. These things are smart and they will automatically complete things. Through constant use, constant experience, and constant experimentation. I think we can get a lot of knowledge, including some mining knowledge and so on. There is also a small goal this year to do more advanced courses. For example, to do some bitcoin transactions, the signature principle of smart contracts, and some BAT techniques to explain in depth, as an advanced course, this year it may be necessary to try to make it.

The role of digital currency

To share some learning methods with everyone, I think this is more critical. The existence of digital currency is necessary. Its existence will have a better development of the world and will have some positive and positive effects on mankind. It can give the people of the countries where the government has lost another option.

What is its core value? It offers people the possibility of another option. You don’t feel like these countries in China, the United States, Japan, and the governments of these countries are doing very well. In terms of currency, although the government wants to increase the number of new generations, it can increase the number of generations, but a reliable government will not say that printing money will be appropriate. It will be appropriate. To maintain the supply of this currency, maintain a stable and ensure that purchasing power is stable. For these things, we are actually God's favor. To tell the truth, ordinary people born in these countries will not worry that the money in their hands will become more than half of the first day, and the money will not be more. Too worried, some countries are really too outrageous. I talked to many people in Argentina. After they got off work, they got paid. The first thing was to spend all the money and buy a car to buy all kinds of life. Supplies, that is not to take wages in the hands, why? Because the price is one price per day, the money in your hand is worthless if you take it one day at a time. What do you say that the group of people do? They can take the dollar and take gold before. Not realistic. If you have it, first of all, the government will not allow you to own gold. The government can collect it, and it is not convenient for the entity to hold it. With digital currency, people have one more option. I can take digital currency and take Bitcoin. The price of coins will rise or fall by 20% or 30% a day, which is also better than the 100% depreciation of the currency of the country.

I don't know if everyone knows in the country. I've come into contact with some domestic people. He may not pay attention to this point. It will only have a variety of speculations. It has its value. Everything about digital currency-related innovations, such as smart contracts, solving some digital currency governance problems, and solving some digital currency trading abilities, such as Lightning Network, are all reasonable and worth spending. Time to study. If you are interested in related topics, spend more time and learn more.

Views on investment digital currency

I don’t mean not to let everyone make money, but everyone thinks about it. If you want to make money, everyone wants to make money. But you have to think about a problem. This money is not something that everyone can earn. The person who can make a lot of money has his excellency. Where is your excellency? If others do what they do every day, what you do every day, others pay attention to some of the stocks daily, you also pay attention to some of the currency news, you do the same thing as others, and your time is the same as others. You have no reason to make more money than others, to know where your strengths are. For example, if you are sensitive to the market, each time the price fluctuations really understand the special criteria, whenever the price reaches a certain low point, others will begin to sell. If you dare to buy, you are bold enough, then this money is earned should be If you find that you are not such a person, you should spend your time where it should be. Time is the most precious. The value of your time in making your time can be improved. After personal values ​​have been raised, objective economic income or personal wealth is a side-effect, so I personally do not pay special attention to some speculations, but I personally prefer investment.

Investment is not something that the average person can do. Some people posted a message saying that the people who were investing in Bitcoin were not working properly and were idle. He just managed to make a fortune by Bitcoin. When I worked diligently one day, I didn’t make a fortune. I feel like I’m relying on digital currency. Those who make a fortune are all people who are not in the business, but they are not. As a long-term value investor, you are determined when others are skeptical. When you are frustrated, you are persistent and you can achieve this is not the average person. In fact, I just managed to do this, so my personal investment is getting some good returns. But this is based on people who are different from others. It doesn't mean which currency you look at on which exchange every day. You can be financially free. It is impossible. First and foremost, you must improve your core competitiveness.

Chinchilla TOC Blockchain College Zheng Weiming: This article is compiled in Moore's founder Qian Haitao's point of view analysis, if any similarity, it is a coincidence.