What is the currency of Ink Chain? (What is printing money called?)

What is the currency of Ink Chain? In China, there are two ways to conduct cryptocurrency transactions. One is to issue tokens through blockchain technology, which requires the use of public key cryptography algorithms. The other is to use private keys and mnemonic words as tools for verification information in overseas transactions (such as Ethereum). However, due to the decentralized nature of digital assets, they cannot be traced, confirmed, or transferred, and such applications generally change the relationship between users and businesses to some extent before using private keys to send data to others, thus ensuring user privacy.

Currently, many digital tokens in the market are issued by projects, such as Ripple and Litecoin, which have already laid out globally. However, most projects’ success mainly depends on the development of sufficient applications.

Therefore, for companies that want to engage in the blockchain field, in addition to considering their own technological strength, the most important thing is the amount of funds, especially if they want to implement blockchain business.

What is printing money called?

Recently, the People’s Bank of China held a general meeting of the Digital Currency Research Institute. At the meeting, it was announced that pilot projects for the application of digital yuan would be launched, and the research and development of new technologies such as blockchain in the field of cross-border settlement would be initiated.

According to the report “Research on China’s Legal Digital Currency” released by the central bank, China has completed nearly 100 projects related to the design and manufacturing of virtual reality (XR) terminal chips based on the Internet, big data, and artificial intelligence. The total number of patents exceeds 400. These include the independent development of a “supercomputer” software and hardware integrated system, which supports 5G communication networks and other new generation communication tools; the establishment of a globally unified data circulation infrastructure through blockchain technology, enabling peer-to-peer transactions and providing stable and efficient support services for the economy; and the gradually widespread adoption of smart contract technology based on data rights confirmation and sharing. (Sina Finance)