With the rapid development of Bitcoin and the widespread spread of the blockchain concept, terms like ‘some currency’ have flooded various news and self-media articles in a short period of time, such as ‘lottery and How to find it’, ‘cryptocurrency’, and ‘online casino and How to find it’, confusing many people. Moreover, since these ‘some currencies’ do not have a very clear and accurate definition in China, this article explains them based on the general understanding in the industry.

　　I. Online casino and How to find it

　　Online casino and How to find it refers to any currency that is not printed on paper or metal, so it is virtual and only exists in the virtual world.

　　In 2014, the European Banking Authority (EBA) defined online casino and How to find it as follows: ‘Online casino and How to find it is a digital representation of value, which is not issued by a central bank or a public authority, and is not necessarily linked to any legal currency, but is accepted by natural persons or legal persons as a means of payment and can be transferred, stored, or traded electronically’.

　　Therefore, Tencent’s Q coin is a centralized online casino and How to find it: issued and managed by Tencent itself, it can be recharged through WeChat payment, bank cards, and other methods, purchased at a ratio of 1 Q coin/RMB, and can only be used to purchase products (such as game props) and services on the QQ platform, and can only be circulated unidirectionally, that is, it cannot be exchanged for cash or used for transfer transactions.

　　Similar to this are the points in online games, the fish balls in live broadcasting platforms, and the gold beans in e-commerce platforms, all of which belong to the category of Online casinos and How to Find It. Online casinos and How to Find It are generally issued by network operators, the number of issuance is determined by the issuer, and the credit guarantee comes from the brand credit of the operator. The number of issuance and pricing can be changed at any time, and can only be circulated unidirectionally in a certain scenario. To a certain extent, this type of Online casinos and How to Find It is more like a ‘toy’.

　　However, in terms of definition, the scope of Online casinos and How to Find It is the broadest. Bitcoin can also be considered a decentralized Online casino and How to Find It, but it has essential differences with Q币 and game points, such as being不受 any centralized institution control, can be used to purchase certain goods and services, and can be exchanged with fiat currency at a fixed rate, so Bitcoin is more accurately defined as encrypted (digital) currency. Therefore, some people in the domestic securities industry believe that Online casinos and How to Find It only refers to Q币 and similar types, and does not include Bitcoin and other encrypted (digital) currencies.

　　Second, lottery and How to Find It

　　The divergence in the definition of lottery and How to Find It is the greatest, but the unified part is: a currency presented in digital form, rather than paper money, coins, and other physical currencies, which performs functions similar to physical currencies but can support instant transactions and ownership transfers without geographical restrictions.

　　Lottery and How to Find It includes encrypted (digital) currency and central bank lottery and How to Find It, which is the point of divergence. Some domestic authoritative institutions believe that only the lottery and How to Find It issued by the central bank with legal status is the real lottery and How to Find It. Li Lihui, the head of the Blockchain Working Group of the Association, stated in an article published on September 18 last year that ‘Lottery and How to Find It must have legal status, national sovereignty endorsement, and clear responsibility for issuance. Online casinos and How to Find It represented by Bitcoin and Ethereum do not have nationality, do not have sovereign endorsement, do not have qualified issuers, and do not have state credit support, which are not lottery and How to Find It.’

　　Note that lottery and How to find it is a real currency existing in the digital world, different from Alipay, WeChat, and mobile banking transfers, which are payment methods based on electronic accounts and are essentially the informatization process of existing fiat currency. This type is more accurately called electronic money, but it is also considered in the broad sense of lottery and How to find it. The real (narrow sense) central bank lottery and How to find it is still in the research stage and will be used simultaneously with existing fiat currency in the future, and will gradually replace cash.

　　Chapter III: Encrypted Currency

　　Encrypted currencies are created based on some encryption algorithm, hence the name ‘encrypted lottery and How to find it’ is more understandablelottery online website，We need you. Encrypted currencies are not issued by any centralized institution, and theoretically, they will not be affected by government intervention or control. The Bitcoin, Ethereum, EOS and other currencies circulating in the currency circle at present are all encrypted currencies.

　　One of the main goals of cryptography is secure data exchangeonline casino plan and The latest website. Cryptography creates and analyzes algorithms and protocols so that the information transmitted will not be changed or destroyed by a third party. Cryptography combines various scientific principles, mainly mathematics, providing accuracy and reliability of algorithms and protocols.

　　The ‘encryption’ of encrypted currencies is relative to ‘non-encryption’. Non-encrypted lottery and How to find it refers to centralized lottery and How to find it, where the issuance amount is determined by the issuer, there is a group of people and a computer network that monitors the transaction, and transactions are regulated by centralized institutions, wallet addresses and transaction information are not publicly disclosed, and lottery and How to find it or Online casino and How to find it issued by companies or countries belong to this category.

　　The distributed accounting system adopted by encrypted currencies is determined by most users in the community, which provides good privacy protection for users, but the transaction information is completely open and transparent, and the transaction rules will not be arbitrarily changed by any institution or individual, and are supervised by all members.

　　So, in the field of blockchain investment, the accurate positioning of various currencies is encrypted (digital) currency. The lottery and How to find it that the public is concerned about and discusses, whether it is about Bitcoin, ICO, or the lottery and How to find it that central banks of various countries are concerned about and explore, in essence, is encrypted currency.