Common names for pi coins: Pi Network, Pi coins. Pi is created by a PhD team from Stanford University. A virtual currency that can be “mined” on your mobile phone. Compared with mining Bitcoin, which requires enough mining machines, the method of mining Picoin is very simple. You can mine for free if you need Picoin. Mainstream "mining" projects require a lot of computing power and the design of complex algorithms to achieve the purpose of encryption security, which is difficult to achieve by "mining" using mobile phones. Investors should be wary of virtual currency project parties using the "Ponzi model" to promote sales, and be wary of the risks of being "smashed", "cut off", or even falling into illegal fund-raising traps or having their privacy violated.
1. Digital currency
1. The abbreviation of digital currency is DIGICCY, which is the abbreviation of "Digital Currency" in English. It refers to the digitization of currency and is an electronic currency. form of alternative currency. Both digital gold coins and cryptocurrency are digital currencies, which cannot be completely equated with virtual currencies in the virtual world, because they are often used for real transactions of goods and services, and are not limited to virtual spaces such as online games. Digitization does not mean scanning, just like digital signature. Digital signature does not mean scanning your signature into a digital image, or a signature obtained with a touch pad, nor is it your signature. Digital currency is often mistaken for virtual currency, which refers to non-real currency.
2. Issuing digital currency can reduce the high cost of issuance and circulation of traditional banknotes; improve the convenience and transparency of economic transactions; reduce money laundering, tax evasion and other illegal and criminal activities; improve the central bank’s control over money supply and currency control of circulation; better support economic and social development and help fully realize inclusive finance; it also helps build new financial infrastructure, further improve the payment system, improve payment and settlement efficiency, and promote economic quality and efficiency upgrades.
2. Virtual currency
Virtual currency refers to non-real currency. Well-known virtual currencies include Baidu Coin of Baidu Company, Q Coin of Tencent Company, Q Points, Point Coupons of Shanda Company, micro-coins launched by Sina (used for micro-games, Sina reading, etc.), Chivalrous Yuanbao (used for Chivalrous Way games) ), Pattern Silver (used in Bixue Qingtian game), the popular digital currencies in 2013 include Bitcoin, Litecoin, Infinity Coin, Quark Coin, Zeta Coin, Barbeque Coin, Penny Coin (external network), invisible gold bars, Red coins, prime coins. There are hundreds of digital currencies issued around the world. The legends of "Bit Gold, Lite Silver, Infinite Copper, and Penny Aluminum" are popular in the industry.
3. Online virtual currencies can be roughly divided into
The first category is the familiar game currency. In the era of stand-alone games, the protagonist accumulated currency by defeating enemies and winning money in gambling halls. He used these to buy herbs and equipment, but they could only be used in his own game console. At that time, there was no "market" among players. Since the Internet established portals and communities and realized the networking of games, virtual currency has had a "financial market" where players can trade game coins.
The second category is special currency issued by portal websites or instant messaging tool service providers, which is used to purchase services on this website. The most widely used one is Tencent’s Q coin, which can be used to purchase value-added services such as memberships and QQ shows.
The third type of virtual currency on the Internet, such as Bitcoin (BTC), Litecoin (LTC), etc. Bitcoin is an electronic currency generated by open source P2P software. Some people also refer to Bitcoin as Translated as "bit gold", it is an online virtual currency. It is mainly used for Internet financial investment, and can also be used directly in daily life as a new currency.