Crypto

After a sudden surge to 31k, Bitcoin quickly retreated overnight, briefly dropping below 30k and currently maintaining consolidation near that level. This scene reminded Jiao Chain of our defensive counterattacks against Vietnam in the 1970s and 1980s. We would strike with full force and swiftly retreat, engaging in a decade-long border war to exhaust and defeat the enemy. This approach avoided getting deeply entrenched in a war quagmire while effectively undermining the enemy’s arrogance. By strategically retreating, occupying advantageous positions, and engaging in attritional warfare, we achieved our strategic objectives at minimal cost. ...

The most primitive storage need of humans, similar to squirrels storing pine cones for winter, is an instinctual response to future problems. This instinctual behavior does not require humans to possess such advanced thinking systems in their brains. Squirrels and many other animals can also anticipate the future. ...

Ever since Ethereum transitioned from PoW to PoS, the discussion and collision regarding the security of PoS and PoW have become a focal point. As early as November 6, 2020, Vitalik Buterin wrote a blog post titled “Why Proof of Stake” , where he conducted some calculations. His calculations indicated that, given equal security costs, PoS is safer than PoW. ...

Starting from June 1st, the guidelines for virtual asset trading platform operators and the anti-money laundering guidelines (referred to as the “Guidelines”) issued by the Hong Kong Securities and Futures Commission (SFC) have officially come into effect. The SFC has begun accepting applications for licenses from virtual asset trading platform operators and allows retail investors to use licensed virtual asset trading platforms. ...

Generally speaking, internet privacy primarily concerns the invisibility of users’ data information, such as their identities, behaviors, and activities. In the era of the internet, all our information and actions are presented in a digital form. However, once any system storing digital information is connected to the network, it becomes a potential target for hackers. This is especially critical when it comes to sensitive information related to finance and personal health. The privacy and security of data become even more important. ...

Recently, the similarities and differences between Bitcoin and Ethereum regarding the issue of price self-limitation have also been discussed. Some further thoughts and analysis are recorded below for readers’ discussion and criticism. The issue of self-limitation is actually somewhat subtle. Ethereum also draws on Bitcoin’s method of dynamically adjusting transaction fees (miner fees) in its calculations. For Bitcoin, the miner fee = vBytes (transaction size in bytes) * fee/vBytes (fee rate denominated in BTC); for Ethereum, the gas fee = gas (amount of computational resources consumed by instructions) * gas price (denominated in ETH). Therefore, on the surface, there doesn’t seem to be a problem with whether the fee rate or gas price is denominated in BTC, ETH, or USD. From the perspective of supply and demand economics, if the pricing currency relative to fiat currency is such that the expected fee income for miners (converted to fiat currency value) is just their cost (denominated in fiat currency) plus a reasonable profit, they can lower the fee rate (fee/vBytes or gas price) to maintain stability of the product of vBytes * fee/vBytes or gas * gas price relative to fiat currency. ...

There are often stories that people love to tell: Two classmates, A and B, graduated together. A joined a strict and regulated software company, while B joined an unknown internet company. Several years later, A honed their skills in standardized coding and project management, while B’s company successfully went public, resulting in a skyrocketing value of their stock options and granting them financial freedom. ...

The discussion in this article is not about using blockchain as a voting technology to fulfill certain voting requirements in the external world, such as conducting elections for a state governor in the United States on the blockchain or creating prediction markets where people can vote on whether the US will default on its debt or reach an agreement at the last moment to avoid default. These examples merely utilize blockchain to facilitate voting on external matters. The focus of this article is on the issue of decentralized organizations conducting on-chain voting themselves, which may involve a blockchain-based DAO voting on governance proposals or even governing the blockchain itself. ...

With the rise of ChatGPT and OpenAI, another cryptocurrency-related project founded by Sam Altman called Worldcoin has also caught people’s attention. What does Worldcoin aim to do? It aims to use blockchain technology to implement Universal Basic Income (UBI), which means unconditionally giving free money to everyone, enough to cover their basic living expenses. This way, the problem of poverty can be solved in one fell swoop. People will no longer worry about their basic needs and can dedicate their time to more meaningful work. ...

Earlier this month, Tether, the leading stablecoin issuer by market capitalization, released its first-quarter reserve and profit data. It’s not just impressive; it’s exceptionally impressive. Let’s take a look at a few highlights: ...