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Golden Observation丨Why does encryption technology represent higher productivity?



Golden Finance Blockchain, May 8th In today's increasingly fierce market competition, encryption technology is becoming more productive and more trustworthy for investors. It is a better way to process transactions. Encryption technology not only means that it can improve productivity and efficiency, but also can make people no longer rely on so-called "trusted institutions".

Compared to gold, Bitcoin is easier to store, trade and create without delivery issues. In addition, Bitcoin can also transfer value locally and globally, while gold is more troublesome. Today, Ethereum smart contracts for Decentralized Finance (DeFi) are an available alternative to verifying, buying, selling, and delivering digital goods, and the transaction processing is faster and cheaper. This allows Ethereum to quickly become a viable currency and transaction mechanism for all digital things.

Maggie, Vice President of Golden Hashrate Cloud Operations: Lowering the Entry Barriers for Filecoin Miners and Focusing on Cloud Hashrate Mining: Live Report, August 3rd, Hosted by, Organized by CapitalN Node Consulting, Co-hosted by Golden Hashrate Cloud , the gold medal sponsor of Shenzhen Xianhe System Technology Co., Ltd., the silver medal sponsor of Anti-Entropy Technology, and Jinse Finance as the co-hosting media of Star Hover Guide · Chasing the Central Plains · IPFS Technology and Application Research Forum was held in Zhengzhou.

Maggie, Vice President of Golden Hashrate Cloud Operations, gave a speech on "Filecoin Mining from an Investment Perspective". Maggie said that the main network of Filecoin has not yet been launched, and there are currently three ways to invest in Filecoin, including purchasing mining machines, purchasing cloud computing power, and futures trading in the secondary market. As a Filecoin computing power sales platform, Golden Computing Power Cloud has in-depth cooperation with top mining machine manufacturers in the industry to achieve one-click purchase and lower the entry threshold for Filecoin mining. [2020/8/3]

When the DeFi market experienced explosive growth last year, the price of Ethereum did not seem to have increased much, while Bitcoin still dominated the cryptocurrency market. If this trend does not change, the total value locked in the DeFi contract may have slowed down in recent months. But just in the last few days in the cryptocurrency market, Ethereum (ETH) has emerged as a new force, and it has performed even better for other cryptocurrencies.

Jinse Finance mining data broadcast | BSV’s network computing power rose by 4.97% today: Jinse Finance reported that according to the data of the spider mining pool:

The computing power of the BTC network is 124.056EH/s, the mining difficulty is 15.78T, the current block height is 639003, and the theoretical income is 0.00000816/T/day.

The computing power of the ETH network is 194.024TH/s, the mining difficulty is 2429.35T, the current block height is 10448018, and the theoretical income is 0.00803882/100MH/day.

The computing power of BSV is 2.323EH/s, the mining difficulty is 0.31T, the current block height is 643445, and the theoretical income is 0.00038736/T/day.

The computing power of the BCH network is 2.770EH/s, the mining difficulty is 0.40T, the current block height is 643632, and the theoretical income is 0.00032488/T/day. [2020/7/13]

Just after the bitcoin and ethereum markets experienced a certain degree of liquidity shock in early April, the microstructure of these two markets has been more or less affected, and the market depth has increased compared to the average level a few weeks ago. The drop, both in total trade volume and on every major spot cryptocurrency exchange. As always, the microstructural performance of the cryptocurrency market is instructive and allows us to further understand the medium-term risks and make a better balance.

Golden Morning News | Overview of important overnight news on February 9: 21:00-7:00 Keywords: BTC-e, TronWallet, Ukraine, Germany

1. The Russian embassy sent a note of protest to the French Ministry of Foreign Affairs regarding the incident involving the founder of the cryptocurrency exchange BTC-e, Winnik;

2. TronWallet embeds Swap, a new exchange mechanism for exchanging tokens;

3. The Declaration of the Ministry of Virtual Assets of Ukraine stated that mining does not require government supervision or intervention. Consensus rules are sufficient to regulate activities on the chain;

4. 40 licensed banks in Germany have applied to provide cryptocurrency custody and services;

5. In the field of encryption, the United States may lag behind countries that have carried out innovative reforms earlier;

6. Bloomberg: The novel coronavirus outbreak has begun to affect the cryptocurrency industry;

7. The U.S. Federal Highway Administration encourages the use of blockchain to innovate highways;

8. BTC is now at $9,918, an intraday increase of 0.91%, and mainstream currencies generally rose. [2020/2/9]

The latest data analysis shows that the liquidity shocks in the Ethereum and Bitcoin spot markets mainly originated from the derivatives market, and led to the emergence of large-scale liquidations. There is reason to believe that the fundamental balance of liquidity is the same for Ethereum and Bitcoin: hedge funds and other speculative investors lend to smaller institutional and retail participants via cash/futures-based positions. However, if you analyze CME Group's futures positions by investor type, you will find that the analysis results are consistent with the conclusion that Ethereum liquidity can recover more quickly, because leveraged funds are mainly short positions, while retail investors and small and medium-sized institutional investors choose long.

Jinse Finance live report on Secbit Guo Yu: Apply the experience on ETH to EOS: At the 2018 EOS Developer Conference, Secbit Guo Yu gave a speech. He said that blockchain security is very complicated, including Public key; Wallet; Mining -node; Consensys Protocol; Smart Contract; Mechanism Design six aspects. Compared with EOS, Ethereum ERC20 has many security loopholes. The hacking of BEC before is a typical example. The BEC contract code is only 142 lines, but there are still bugs. EOS will be safer and more logical than Ethereum. [2018/6/10]

Bitcoin and Ethereum market depth just keeps getting better

After the bitcoin and ethereum derivatives markets began to deleverage, ethereum spot price recovery was better and more resilient than bitcoin, market depth appeared to recover faster, and some exchanges Liquidity conditions are even better than at the beginning of the month. What is the reason?

Jinse Finance Live Report Naseba Managing Director: With the rise of the blockchain, the sports industry is facing great opportunities: Jinse Finance live report, at the 2018 FINWISE Tokyo Fun Wisdom Summit, "How the Wave of Financial Technology Leads the Development of Global Enterprises" as an example Nic Watson, managing director of Naseba, said: I have helped experts bring intellectual property to the Middle East. They have good technology, but they need to be commercialized, and they don’t know how to promote their business to other companies. Some people are brands themselves, some companies have billions in assets and can avoid middlemen, and there are also a lot of money transfers in the enterprise. In the current sports industry, fans’ love for stars has not yet been converted into value. Fans and stars will post on Twitter and Facebook. These social networking sites also make a lot of money because of this. Therefore, when the blockchain rises, The sports industry faces great opportunities. [2018/5/21]

The first thing to understand is that the overall size of each futures market and the relative change in net liquidations are consistent: for Bitcoin, compared to the ex-ante level, open interest fell by 26%, and net liquidations fell For Ethereum, compared to the ex-ante level, the liquidation position decreased by less than 4%, and the net liquidation decreased by 17%. In addition, the open interest of Ethereum futures on some cryptocurrency exchanges is already higher than the level before the liquidity shock earlier this month, but the open interest of Bitcoin futures is still falling across the board. This shows that the Ethereum futures market is better able to find the liquidation demand side, thereby mitigating the impact on spot prices and restoring liquidity more quickly.

Secondly, the "bases" of the two public chains, Ethereum and Bitcoin, are also different, and the clearing mechanism is also different. Compared to Bitcoin, the Ethereum network focuses more on "transactions". This is because Ethereum provides support for DeFi and other transaction types, and the number of these transaction activities is also increasing. The result is that ETH tokens are more liquid than BTC is more liquid. In this case, Ethereum was less affected by the reduction in futures open interest, and performed even better than those crypto tokens that are often in circulation.

In addition, Bitcoin seems to be more susceptible to futures trading, such as a week ago, the total net long liquidation of Bitcoin accounted for 23% of the ex-ante open interest (ex-ante open interest), followed by Ethereum, net long Total long liquidations accounted for 17% of ex-ante open interest. The high-frequency cash/futures basis price shows that the Ethereum market has not been greatly affected, although the net liquidation amount is almost the same, and the open position data also finds that it is easier to find market demand for Ethereum futures trading. Against this backdrop, the dramatic recovery of Ethereum’s market depth is all the more compelling.

Most importantly, there are fundamental differences in the narratives of the two cryptocurrencies, Ethereum and Bitcoin. Bitcoin is more of an encrypted commodity, competing with gold as a store of value; Ethereum, the backbone of the crypto-native economy, is seen more as a medium of exchange. Therefore, in a sense, the potential value of Ethereum is greater, and it should be able to outperform Bitcoin in the long run, and there will be more room for development.

At the height of the pressure, the cash/futures prices of the two mainstream cryptocurrencies, Bitcoin and Ethereum, have fallen sharply, and the current price level of the ETH/BTC trading pair is still lower than the peak in 2017/2018, about the same It is about 30% below the "peak price", but this decline obviously has a much smaller impact on ETH.

Moreover, the current transaction volume on the Ethereum blockchain is getting higher and higher, and the significantly higher part of the ETH token transaction volume can be considered to be highly liquid, which further weakens the influence of futures liquidation on ETH . In addition, price differentials for like-for-like contracts across major cryptocurrency exchanges have also decreased, with some degree of convergence maintained for most of the past week, suggesting fewer arbitrage opportunities and, in turn, after the initial market price shock , the overall market performance of Ethereum is also better (the recovery of Ethereum network computing power is also better).

There is now at least evidence that ETH liquidity is more resilient, less dependent on the transfer risk and "storage" risk of the derivatives market, and better able to respond to changes in market demand. That said, Ethereum’s valuation is less reliant on the need for leverage than Bitcoin’s. With further breakthroughs in blockchain technology and the continued growth of DeFi and other components of the Ethereum eco-economy, Ethereum should have more room for development compared to Bitcoin.


In short, Ethereum smart contracts are an automated, trustless, and near-real-time transaction processing solution that provides people with better financial tools for depositing, saving, and trading than banks. For the same transaction, the bank relies more on manual work, and at the same time needs a fixed location to provide services to customers, which will increase transaction costs and bring more friction.

Not only that, Ethereum smart contracts can also provide rewards to altcoin holders. Since token holders earn income simply by providing more productive services, it is easy for altcoins to gain more users. At the same time, altcoins have very low barriers to entry and are very competitive. Although participants will encounter some risks, the rewards can always attract more people, which is also a better solution.

Just like meme coins like Dogecoin (DOGE), we know that the annual inflation rate of Dogecoin is set at 5%, and about 5 billion tokens are issued every year. Although inflation may be the "flaw" of Dogecoin, it will There are problems with skyrocketing interest rates or declining or stagnant purchasing power in the market, but as soon as they gain utility, like when you can pay with Dogecoin, Dogecoin becomes functional like any other. At the same time, as long as more companies adopt Dogecoin to provide products and services, then Dogecoin can become a usable currency, because its purchase value may be better than US dollars in the bank.

So, when users are willing to use these tokens in actual use cases, the utility of these tokens will continue to grow, and people will be able to extract some value from them.

As more and more applications are added to the encrypted network, the scale of the network is bound to grow rapidly, encryption technology and functions will become more and more powerful, encrypted assets will become more and more valuable, and the success of the encryption industry will surely It's a matter of course.

Part of this article comes from Yahoo Finance


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