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Considering that some of our target customers are residing in mainland China, this article provides a reminder of the mainland China (“domestic”) regulations that may be involved in the project, which should be read carefully by our mainland Chinese customers.
This post explains the distribution method of DW20 and CLY in detail.
Cryptocurrency has developed to this day and has passed its initial stage, but what can you find if you type the words “blockchain problems” on Google? We found that the reflective articles were few and far between. Blockchain has been iterating for 12 years. It may be one-sided to say that it has stayed still, but it has not made much progress. In the field of blockchain, whether in application or technology, there are minor improvements to the blockchain, but there is not a single project that can compete with Bitcoin. It is time to summarize, reflect, and elevate our understanding to theory.
Congratulations on reading to the end. The Decryption White Paper series is a companion to the Enter the White Paper series. Enter the White Paper is a detailed explanation of the essential concepts of the Two white papers. The chainless white paper is written as a reference book, and the directory identification is very detailed. There is a lot of content in the two white papers that need to be implemented step by step. The original version is in Chinese. If there is any ambiguity in the English version, the Chinese version shall prevail.
The design of the centralized ledger of the chainless system is precisely the same as that of the Bitcoin ledger. Transactions are completed in one ledger. Due to the different coin issuance modes, competing for accounting rights like Bitcoin is unnecessary. Inheriting the ideological value of Bitcoin, abandoning the current blockchain general ledger structure, while inheriting the excellent technology of web2, the chain of ideas is invisible, using the ideas of Bitcoin to transform the existing centralized system and create a new general ledger method, used to solve the pain points of blockchain such as transaction speed and transaction costs, a financial system compliant with Web3.0 was born.
The design of DW20 Decentralized Standard currency incorporates the issuance principles and methods of the US dollar, Bitcoin, fiat-backed stablecoins, algorithmic stablecoins, and collateralized stablecoins. It absorbs their advantages and improves upon their shortcomings. Currently, stablecoins issued in the cryptocurrency field do not possess the conditions to become a standard currency, but DW20 has the potential to become a standard currency.
Ms. He Bing is my good friend; she graduated from the Graduate School of the People’s Bank of China (now merged into Tsinghua University to become Tsinghua PBC School of Finance) and once owned and operated her own securities company in China. Currently living in the United States. Her specialty is foreign exchange trading. The analysis part is my interpretation of Mr. He’s article. Quite a question and answer.
Miles is in charge of wallet and application development. He has been immersed in the field of cryptocurrency for many, many years. His version does not have a lot of financial narrative, which is especially suitable for friends with insufficient financial background, and it is easy to get started immediately. What he wrote is very much like an instruction manual. They understood my idea and implemented a chainless system using modular blockchain tools.