What is the principle of mixed currency

What mixed currency blockchain industry often encounters some mixed currency problems, such as someone using private keys to hide their wallet addresses and digital assets. In fact, many times we can put all the transactions of Cryptocurrency in one account (that is, the exchange), and this account is an account controlled by hackers, because users will get a stack of different tokens when they input their private keys, and then it is possible that these coins will be stolen, which is also called “Bitcoin fraud” Many people say that this is not a good means of fraud. But in reality, it’s not that simple. If you use a private key to access your wallet, or use someone else’s words to say ‘you have already made a transfer through my wallet’, then you can transfer these funds to a certain address. Even without any third-party intervention, this can cause a large number of investors to lose assets, thereby affecting your investment portfolio. But because most people know that all the coins in your wallet are illegally obtained So for ordinary people, it is easy to be attacked, especially for those who do not know if they have a private key, which can easily cause losses. If a friend in need of help helps, they can also directly find an excuse to provide them with information or ask them to unlock their accounts, in order to more conveniently use these platforms, after all, many platforms now support anonymity. Of course, there are other ways to achieve this goal, such as automatically executing certain tasks through smart contracts and sending them to designated servers However, there is another solution, which is to store the private key in the user’s wallet on a secure hardware device controlled by multiple independent entities. When a person wants to obtain a private key, they can use various tools, software, and programs to securely manage it and ensure that the private key is not exposed to others Generally speaking, the most typical method of this is fake recharge – pretending to be a scammer. However, the real situation is often better than imagined: as soon as a victim tells the other party that he saw his Bitcoin address and password online, he will immediately start sending emails to the other party, informing them of his Bitcoin balance and their identities, in order to lure another victim to contact him and demand that the other party not initiate the request again. In the end, he still decides not to accept the application In short, everything is under speculation, which is the so-called counterfeit currency In fact, most of the virtual assets in the current market belong to this category, and the concept of “counterfeit currency” is not new. Some projects even have various risks: for example, exchanges may create fictitious transactions to brainwash customers, exaggerate prices, and so on In addition, some projects also involve a potential issue: if someone discovers a suspicious source, how should they make a judgment In general, there are only two ways to achieve this: the first is to collect relevant information from phishing websites; The second method is to use malicious software to search for target addresses from outside and then check which specific addresses are doing business with criminals based on the source

Principle of Mixed Currency

The principle of mixed currency is that a certain digital currency is transferred to multiple addresses. Assuming that each wallet has two different types of money, there are transaction pairs, fund pools, and private keys between these two accounts. There is a small asset greater than 0 within the Bitcoin chain (such as a block) that will be transferred; If one decimal place does not match, the other decimal places may also become recipients of the same BTC transfer This process is accomplished by transferring Bitcoin from a single address to a second address and then sending it to another user. That is to say, the account can transfer 1BTC to the other party At this point, only two people can participate, but they do not need to hold Bitcoin. So this situation is called “mixing”. To achieve the above objectives, “mixing” refers to dividing a blockchain asset into different parts for decentralized exchange. For example, when someone uses the same exchange, he can store Bitcoin in his cold wallet and convert it into another Cryptocurrency. In this way, as long as both companies agree, they can exchange the same amount of Bitcoin with each other. Therefore, “hybrid” is a new type of blockchain technology aimed at solving some of the current problems in the blockchain field, such as traceability and irreplaceability. Due to the existence of these new functions, it is more like a Distributed database or smart contract platform, which can perform cross chain operations in a decentralized manner, so as to achieve the purpose of security and transparency.