#About this page
Here will explain "Virtual Currency"
At first
What is a virtual Currency
Structure of block chain
Anyone can see it
If tampering ...
Generate virtual currency
51% problem
Other concerns
Summary
Our opinion
Here will explain "Virtual Currency"
At first What is a virtual Currency Structure of block chain Anyone can see it If tampering ... Generate virtual currency 51% problem Other concerns Summary Our opinion#At first
I believe that bit coins (Virtual Currency) are topics we've heard once. Many different media are paying attention to the movement. On this page I'd like to talk about the security of Virtual Currency. Let's start with people who have already started Virtual Currency, those who will start from now, or those who do not start stubbornly will also share the security of Virtual Currency that is easy to get into with eyes telling stories and spillage! !
#What is a virtual Currency
For the time being I would like to explain briefly about Virtual Currency. (* We will not talk about charts at all.) Virtual currency is the Encrypted currency in which certain countries do not guarantee value. By the way, bit coin is one of the virtual currency brands. I will skip the guarantee of value. The important thing in this page is that.
#Structure of block chain
Virtual Currency I know a bit familiar with Virtual Currency, I use the Encryption format called Block Chain. The block chain stores transaction information and is saved on the computer of the user using bit coin.This format that everyone distributes and manages is called P2P (Peer-to-Peer) method.
Since it does not have a specific management agency, it is expected to be able to operate financial services at a low cost, being resistant to system failure.In addition, it is also a feature of the block chain that anyone can start using it if you think to use it.
#Structure of block chain
From here it is a bit difficult but I would like you to understand the mechanism of the block chain. Block chains are formed by creating units of data called blocks and concatenating them. The block is hash functioned, and by building the consistency by finding the number of the hash value and nonce value of the immediately preceding block, we will connect and connect the block.
A hash function is a function that generates an irregular character string (hash value) of a certain number of characters from the original data. The fact that blocks are newly added to the chain is called "approval".
#Anyone can see it.
Any transaction history recorded in the block chain can be confirmed by anyone. However, since Encryption by hash function can not read plain text (original sentence) from ciphertext, it can not check "content".
#If tampering ...
Let's suppose that the block chain has been tampered with. How do you think that you can notice and tamper with it? please think about it. Tampering of the block chain can be understood by checking consistency with the hash value of the previous block. The hash function changes tremendously just by slightly changing the plaintext. After seeing this, I will return the block again.
#Generate virtual currency
By checking consistency and making "approval", you can add new blocks, but this work will tremendously enormous calculations. This approval work is called mining, and a mechanism to prove that fraud has not been done is called proof of works. If you do this successfully, Virtual Currency will be paid, and a new Virtual Currency will be issued at this time.
#51% problem
Have you ever heard about 51% problem or 51% attack or such story? This is because a majority of the computing power of the mining block chains is dominated by a malicious person It refers to the possibility. Mining is to do transactions approval and confirmation work, regardless of a certain sandbox game, taking consistency with past transaction history data. Incorrect dealings may be made if mining is dominated by malicious people. It is when a bad person has 51% of the mining's computing power to switch over the control of this mining. By the way, this is written on the terms of use of some exchanges (ex: Bitbox).
#Other concerns
Because Virtual Currency is invisible, will it become a source of funds for organized crime groups and antisocial forces, and will fundraising be done? Although there is an opinion that, Each of these exchanges is cracking down on these.
#Summary
Virtual currency is protected by block chains.
Block chains are based on a hash function and are consistent with the preceding and succeeding blocks.
A block chain may be broken if it receives 51% attack of mining 's computing power.
Virtual currency is protected by block chains. Block chains are based on a hash function and are consistent with the preceding and succeeding blocks. A block chain may be broken if it receives 51% attack of mining 's computing power.#Our opinion
I think that it is a good system because block chains can be constructed without much management cost, but I thought that there is no versatility. The strength of the block chain will not rise unless it is not something you want to mining. So I wondered if there are uses other than Virtual Currency ....
