Internal challenges: First of all, digital currency challenges at the conceptual level. One is that digital currency currently lacks a standardized definition. What is a digital currency? I am afraid there is no unified concept yet. When foreign countries discuss digital currency or central bank issuance of digital currency with Token paradigm, it is usually given the concept of encrypted currency. In an article by the Australian Taxation Office, cryptocurrency is defined as a digital asset, through the generation of additional units of encryption technology and verification of transactions on the blockchain, here the two concepts of encryption and blockchain are emphasized. The Swiss regulatory agency FINMA divides tokens into three categories in the ICO regulatory guidelines: payment, function and asset. Payment token refers to the current or future means of payment for obtaining goods/services, or means of currency/value transfer. Token refers to the purpose of providing digital access to applications or services based on blockchain infrastructure, and asset tokens are claims or equity to the issuer. Second, the definition of legal digital currency is not very clear. What exactly is a legal digital currency? Is the currency electronic and digitization led by the central bank called legal digital currency? Or is it that only the digitization of the Token paradigm can algorithmically determine digital currency? Or is it possible that in the future private sector issuing cryptocurrencies with wide-ranging influence, which is authorized by the state to assume part of the legal tender function, can also be regarded as legal digital currency? We cannot conclude here, thiThe best miners in Ethereums is another difficult problem in the definition of digital currency itself. The third issue is that stablecoins may not be stable. Stable coins emphasize that they are associated with asset pools and have stable value. The Swiss Financial Market Supervisory Authority (FINMA) divides stablecoins into four categories related to currencies, commodities, real estate and securities. But the question is can it be stable? In reality, under great external shocks, the currency stability mechanism usually faces huge challenges, and when the situation is serious, a currency crisis will break out.
Giant whales are very wealthy investors, and their transactions can push up or down the price of Bitcoin. Glassnode defines the Bitcoin Whale as an entity that holds at least 1,000 bitcoins (currently valued at US$19 million). Glassnode believes that these entities include individuals and organizations that hold wallets.
TrueFi was developed by TrueToken, a company that is the stable currency TUSD, and includes services for mortgage and credit loans. Credit loans have higher handling fees. The loan application will be handed over to the holders of the TrueFi platform token TRU to vote to decide whether to lend. In other words, unlike Aave, TellerFinane, Aegis, etc., TrueFi adopts a DAO method to decide whether to lend or not through a crowd's decision. It adopts a collective intelligence algorithm instead of a pure data algorithm. In addition to the voting results after the pledge of TRU holders, the risk parameters of the platform's fund pool will also affect the final loan.
Long-term holders of MVRV can offset a positive factor that SOPR triggered selling in the short to medium term. Analysts at Glassnode explained that the MVRV is far away from the danger zone, which previously marked the partial top. For example, when Bitcoin hit a record high in December 2017, the long-term holder MVRV exceeded 20. In contrast, this indicator is currently about 3.
Polkadot is also a network structure that supports cross-chain transactions. Its goal is to reconstruct the blockchain architecture, separate the standardization and effectiveness of the blockchain consensus, and fundamentally solve the scalability and scalability of the blockchain system. problem. Polkadot is different from Cosmos in that the Cosmos network is a homogeneous system that must be given to Tendermint, while Polkadot is expected to be built into a heterogeneous multi-chain system. Polkadot is made up of a relay chain and several parallel chains. At the same time, the network nodes are divided into four roles according to the functions of the nodes in the network, namely: collector, fisherman, nominator, and verifier. Among them, the verifier is responsible for the main work of network maintenance, and other roles assist and supervise the work of the verifier. The specific mutual relationship is shown in Figure 2. The four roles work together to maintain the network, which can realize safe and effective cross-chain transactions.
Libra's gains and losses: Zou Chuanwei pointed The best miners in Ethereumout that the most successful part of Libra is to make the financial industry realize that it is feasible and worth trying to use the loosely coupled design of accounts based on blockchain and other technologies for financial infrastructure; and The biggest failure of Libra is that the design of its currency basket requires multi-party supervision and connection with multiple infrastructures. In particular, the rebalancing of the currency basket will be a very big challenge. In addition, we noticed that 98% of Facebook’s current revenue comes from advertising. Compared with Tencent, which has a payment system, value-added services, financial technology and corporate services, and online advertising account for 52%, 27%, 19%. We believe that Libra is one of Facebook's measures to broaden its business segments and find new growth points. It actively declares the company's innovation capabilities to the outside world. Libra is also successful in this regard.
In the 71-page prosecution file published by the SEC, the name of Jed McCaleb (JedMcCaleb) was not mentioned. In the past few years, the co-founder who received 9.5 billion XRP has already reported The market has sold billions of XRP, and his other identity is the co-founder of Stellar.
Qian Yinggang, a partner of Jingheng Law Firm, told Zinc Link that the STO model is mainly divided into the securitization of equity assets and the issuance of tokens. Compliance can also be understood from two aspects, a domestic STO, The other is overseas operations and there is room for legalization. That is to say, through the overseas structure, in the issuing destination country in accordance with the regulatory system of the country (region) to carry out token financing.