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Why does blockchain need to issue coins (Why blockchain is a scam)

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Why does blockchain need to issue coins? Today, I will discuss this topic.Bitcoi

Why does blockchain need to issue coins (Why blockchain is a scam)

Why does blockchain need to issue coins? Today, I will discuss this topic.

Bitcoin has been around for decades. However, due to various reasons and low understanding and acceptance by many people, it is always considered to be wrong. In our opinion, this is a misunderstanding. If something has a high price (or an excessively high price), it is meaningless because value should not be owned or used by anyone. Once there is currency, there is no longer a need to rely on someone for transactions. Before you can use one asset for another, you must have a wallet address (or an account) and be able to send funds to others.

This is called issuing tokens. The purpose of issuing coins is to increase circulation, reduce transaction costs, increase transparency, and provide better services to society. The main goal of issuing coins is to involve more people and earn more profits. However, because of this, many people don’t care about issuing tokens. They hope to be rewarded through their own efforts.

Therefore, for ordinary users, many things that are often difficult to accomplish, such as creating accounts or making transfers, are difficult to achieve. Issuing tokens is mainly used to solve these problems, not to make money. Although some applications still cannot meet daily needs well, they can be used to create new activities. In addition, some entrepreneurs are looking for a way to promote the development of the ecosystem. For example, the Ethereum community plans to launch ERC-20 standard tokens to support the development of applications based on the protocol, while other projects intend to introduce them into the DeFi field.

The reason blockchain produces tokens is that it is distributed. The quantity of digital currency is not generated simply by algorithms, but is ensured by consensus mechanism to guarantee the security and stability of the network. Encryption technology and cryptography have common characteristics. In computer science, mathematicians have proven that everyone can write a new data structure in a single public key. In cryptography, all nodes are remembered by the same person, so it does not affect their relationship: how much data is mastered will determine who controls which information. Which method is more secure and better? These complex questions can be well answered by smart contracts: each block in the blockchain is unique, and all transactions are recorded and transferred between public ledgers. Each payment has a unique identifier.

Why blockchain is a scam

Why is blockchain a scam?

In 2017, people first learned about Bitcoin and cryptocurrencies. However, when they truly understood it, they realized the meaning behind this name. At that time, people began to question its concept: I really don’t know what blockchain technology is or how to use it. Later, we gradually realized that this was a mistake, but now this technology has developed into something very complex. However, this novel technology can actually make some people suspicious – that is, these deceptive technologies are just disguises. (CryptoSlate)

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