What is data coin (data coin in Chinese)
Data coin is a data asset provided by a distributed data storage platform. It al
Data coin is a data asset provided by a distributed data storage platform. It allows data holders to gain a certain monetary value without the need to purchase related hardware devices, achieving decentralized transactions. There are currently a large number of digital cryptocurrencies developed and in circulation on the market, such as Bitcoin, Litecoin, and Ethereum, but none of them can fully replace these currencies in terms of application scenarios. Therefore, we call it data coin, which is a virtual currency (excluding legal tender) linked to fiat currency. When a person owns enough digital assets, they can issue their own tokens to pay bills or carry out transfers. This means that if someone wants to use the tokens they hold for transactions, they need to pay a certain amount of fund fees, thus generating income on the network.
Data coin in Chinese
Data coin is a distributed data storage protocol that combines the data structure of digital assets with traditional databases.
Specifically, it can be used for recording and transmitting files, smart contracts, block headers, or state transitioners that contain information. This blockchain technology is known as the “ledgers on the Internet”, but no centralized entity owns this data set. However, in some existing applications on the market, data is still available. Therefore, data is a decentralized computing network and a means of storing value.
In addition, data tokens also have their unique functions. They can be used to verify user agreement on specific events and the validity of transaction amounts. For example, data will be confirmed through on-chain addresses. There are also other functionalities such as identity management, like cryptocurrency wallets.
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