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Proof of Stake (PoS): Determine bookkeeping rights based on coin holdings/duration, no need for computing power

In the virtual currency world, Proof of Stake (PoS) emerged as a “sustainable alternative” to the energy-heavy Proof of Work (PoW). Unlike PoW, which relies on computing power competition for bookkeeping rights, PoS distributes these rights based on how many virtual coins a node holds and how long it locks them up (called “staking”). This design eliminates the need […]

Consensus Mechanism: Rules of the Blockchain to Ensure Consistency (and Its Connection to Virtual Currencies)

In the decentralized world of blockchain, there is no central authority like a bank to verify transactions or synchronize data. This is where the consensus mechanism comes in—it is the “rulebook” that all nodes (computers) in the blockchain network follow to reach a unified view of data, ensuring every transaction is valid, irreversible, and consistent across the […]

Blockchain: A public and immutable online ledger, transparent and anti-fraud

When we talk about virtual currencies like Bitcoin (BTC) or Ethereum (ETH), the technology behind their security and trustworthiness is blockchain—a decentralized online ledger that’s public, immutable, transparent, and inherently anti-fraud. Unlike traditional ledgers (controlled by banks or companies), blockchain operates on a network of thousands of computers (nodes), ensuring no single entity can manipulate […]

Digital Collection: The domestic version of NFT, subject to regulation

In China, digital collections have emerged as the “regulated domestic version of NFTs,” combining the technical logic of non-fungible tokens with strict compliance requirements to avoid the financial risks of overseas NFTs. Unlike unregulated overseas NFTs that may involve virtual currency trading or speculative 炒作,domestic digital collections focus on cultural dissemination, brand empowerment, and asset […]

Metaverse: A virtual world where cryptocurrency / NFT serve as the economic core

The metaverse—an interconnected network of 3D virtual worlds—isn’t just a space for socializing or gaming; it’s a fully functional digital economy, and cryptocurrency and NFTs (Non-Fungible Tokens) are its backbone. Unlike traditional virtual platforms where in-game assets are controlled by companies, the metaverse uses blockchain technology to let users truly own, trade, and monetize their […]

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