MasterCard, a credit card giant, has announced a virtual test environment for central banks to evaluate the use cases of central bank digital currency (CBDC). The platform can simulate tdigital currency group (dcg)he environment in which banks, financial service providers and consumers use CBDC for issuing, distributing and trading. Central banks, commercial banks, technology and consulting firms were invited to work with MasterCard to assess the interoperability of CBDC technology design, validation use cases, and payment standards between consumers and businesses.
At the same time, it also defines a set of abci callback interfaces to interact with the application layer. The application logic can be written in any language you are familiar with. For example, the transaction is sent to the client through the transaction validity check of the client. The effective transaction enters the tendermint memory pool. It is proposed that the node select the transaction from the memory pool to enter the candidate new block, and the new block agreed by POS will be broadcast to the whole network. All nodes receiving the new block will play the transaction to the application through the abci interface. The application logic will change its internal state correspondingly in the process of executing the transaction. Finally, the state hash will be returned to tendermint in the form of apphash and included in the new block header. When a new round of block selection begins, a verifier will select it by polling and so on, and submit a candidate new block as the proposed node. This new block contains transactions that have been confirmed to be valid with the application. After the block is broadcast to the network, all verifiers pre vote. Because of the timeout mechanism, tendermint protocol is a weak synchronization protocol. After the prevote vote exceeds two-thirds, the system reaches the so-called Polka state, and then precommit the block. Once the precommit exceeds two-thirds, the new block is submitted to commit to generate the height of the new block and enter the next round of proposals. The feature of tendermint consensus algorithm is Byzantine fault tolerance. It can accommodate up to one-third of the verifiers in the whole network to make mistakes, including unintentional mistakes or intentional evils. When voting, two thirds does not mean two-thirds of the number of verified persons, but two-thirds of the rights and interests. In addition, it has real-time finality, which is the biggest difference from POW; when it generates new block height, this block is final, and it will not be overturned in the future, so it will bring higher performance than Ethereum and bitcoin. It integrates application logic and consensus logic, communicates through abci interface, and can write applications in any language. What this application does is actually state machine control. It abstracts the consensus engine, which can be used as a public chain or a private chain. Tendermint's algorithm emphasizes consistency,
According to blue whale finance and economics, Li Lihui, former president of the Bank of China and head of the blockchain research group of China Internet Finance Association, legal digital currency has four main advantagdigital currency group (dcg)es. Firstly, legal digital currency has the advantages of replacing cash and saving the cost of cash circulation. It can be the sixth version of RMB; secondly, it can strengthen the public attribute of the payment system and promote inclusive payment Financing can make more people use this payment system; third, it can ensure the reliability of financial transactions; fourth, it can accurately adjust the money supply and strengthen the supply of currency market circulation. At the same time, legal digital currency also has three potential risks: one is that it will weaken the initial credit ability and profitability of commercial banks; the second problem is that it is more likely to trigger systemic financial risks; and the third problem is that because of digital currency, there are three potential risks,
If Alice wants to send CBDC token anonymously to Bob, then Alice must hold the same number of anonymous credentials. Anonymous transactions will skip the scrutiny of anti money laundering agencies and all transactions will be reviewed by intermediaries. The ECB said the anonymous voucher is not transferable and has a time limit and is issued in batches by the anti money laundering agency. As a technical tool, it aims to limit the number of cbdcs that can be transferred anonymously, which means that the CBDC can be restricted by anonymous transmission function without recording the number of cbdcs spent by users, thus protecting the privacy of users.
BNP Paribas, cacib, caissedes D é P ô ts, as well as token and the blockchainxdev, the blockchain startups, announced that they would jointly explore the potential use and impact of creating an inter-bank digital currency for the distributed ledger Technology (DLT) platform, and are committed to digitizing financial assets for the EU in compliance with applicable regulations To make a contribution. The project will initially explore how to use Ethereum and tezos technologies to settle financial transactions involving digital assets on the platform. In addition, the project will carry out a number of experiments to verify the technical interoperability of public or private blockchain. The project will be completed in 2021. The blockchain xdev is a subsidiary of the blockchain group. The blockchain group digital currency group (dcg)is a global umbrella organization of engineers and entrepreneurs dedicated to creating an ecosystem driven by blockchain.
Based on the capacity proof consensus protocol, the mass consensus engine constructs a consensus layer that does not need permission, is fair, energy-saving, safe and universal, so as to ensure the fundamental security of the public chain in the process of operation. Mass consensus engine is universal, which can provide consensus services for multiple public chains simultaneously. Nodes participating in consensus engine maintenance can run mass consensus protocol through storage space without permission. The process of mass consensus engine running is green and fair. It consumes only a small amount of computing resources, which means that everyone can participate. Mass view more, RVC, and so on, all of which gave the early miners more than expected returns. Although the scale effect of small mineral currency is weakened, the track effect of the whole digital currency field is relatively obvious this year. You can pay more attention to the hot track, and then look for mining currency in the track, such as the TRB of the DFI track, the SC of the storage track, etc. Cut into the mine through the track. In addition, we will also pay attention to some projects with strong operational strength, such as RVN's fork currency RVC.