Chainfeeds Introduction:
This article mainly analyzes the technical characteristics of digital currencies represented by Bitcoin, and deeply explores its role, influence and value in the macro economy. It also further analyzes the underlying operating logic of the Web3 world and provides theoretical support for it.
Source:
https://mp.weixin.qq.com/s/MxCY9PwT4z1NYd5dJk9YUA
Article author:
VC Popcorn
Viewpoint:
VC Popcorn: As a medium of transaction, a storage and calculation unit of value, currency carries the trust and commitment between all parties inside and outside the society. However, the demand for the role of currency in economic activities is constant, but the form of currency is iterative with the development of science and technology and society. From the earliest shells and metals to today's paper money, the forms are different, but they are constantly evolving to meet human needs. Currency is not only a medium for economic activities, but also a reliable technology that enables the realization of commitments between economies. With the complexity of social and economic activities, monetary technology is also constantly developing. Bitcoin, which appeared in 2008, made a thorough rebellion against the centralized economic phenomenon and order. Its birth was due to dissatisfaction with the traditional financial system, that is, dissatisfaction with the financial system controlled by the central government, and it was a social response to the global financial crisis. Its core proposal is to establish a decentralized economic system and abandon intermediaries such as central banks. This is not only a response to the financial crisis, but also a technical commitment to overcome the obstacles to the development of digital currency. The blockchain technology created with Bitcoin also suffered a lot of doubts from the technology circle in its early days. After withstanding countless hacker attacks, its security was truly recognized by the technology circle. Hackers discovered that blockchain technology can really complete peer-to-peer transactions across the ocean without any intermediary or permission, and in the process, the transaction results cannot be tampered with. This is also the first time that a currency technology itself provides enough trust, rather than relying on centralized power, or in other words, this technology has realized trustless and permissionless P2P transactions for the first time. So blockchain technology has built a new currency species, digital currency. Digital currency is the latest stage in the history of currency development. Cryptocurrency represents its technological attributes, and Currency represents its monetary attributes. Its technological attributes are perfectly reflected as a payment tool. It solves many problems that traditional banking cannot solve. It can achieve fast and direct cross-border transfers through its global distributed ledger system, greatly reducing transaction costs and time, without the need for intermediaries and approvals. However, most currency technologies must be supported by centralized economic power parties to develop. For the first time, blockchain technology has achieved prosperity without the permission of vested interests, directly attacking the traditional economic interest order. Within digital currencies, countless Altcoin are also attacking the inherent economic structure of digital currencies (Bitcoin, Ethereum), trying to compete for the throne through continuous technological iteration. Therefore, although the endless stream of ICO coins do not generate cash flow in the short term, investors seem to see the huge value they will bring to transaction efficiency in the future.
Content Sources 
